Tokyo Apartment Sales in December 2022

The Parkhouse Gran Minamiaoyama is a luxury low-rise apartment building in the heart of Omotesando. Off-the-plan sales began in June 2015 and all apartments sold out on the first day of sales with an average of 9.6 buyers per apartment. The average price when new was around 2,300,000 Yen/sqm. There are currently just 3 sale listings in the 101-unit building with an average asking price of 3,900,000 Yen/sqm. All 3 of those apartments are leased to tenants with an average gross yield of 2.64%. The average resale price in 2022 was 3,275,000 Yen/sqm, up 4.6% from 2021 (3,130,000 Yen/sqm) and up 27% from 2020 (2,585,000 Yen/sqm). This apartment was sold tenanted with a gross yield of 3%. It sold for 43% more than an identical apartment one floor up was listed for in 2018 and has been the most expensive reported resale in this building on a price-per-square-meter basis to date.

Park Court Azabujuban The Tower is a 440 unit, 36-story high-rise in the Azabu Juban area with concierge, gym, guest suite and resident lounge. Current asking prices in this building are around 2,870,000 Yen/sqm, with apartments over 80 sqm averaging 3,770,000 Yen/sqm. The average sale price in 2022 was 2,900,000 Yen/sqm, up 33% from 2021 (2,180,000 Yen/sqm) and up 45% from 2020 (2,000,000 Yen/sqm).  Apartments over 80 sqm had an average sale price of 3,705,000 Yen/sqm in 2022. This was a spacious apartment on a high floor. It has been the most expensive reported sale in this building on a price-per-square-meter basis to date.

Roppongi Grand Tower was developed by Sumitomo primarily as a rental apartment building. A number of units were given to original landowners as part of the redevelopment, and those units may occasionally appear for resale. This was a compact apartment. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date. It sold for 9.6% more than a similarly-sized apartment a few floors down sold for just 3 months prior. 

Brillia Towers Meguro is a multi-tower high-rise office and residential complex located on the eastern side of Meguro Station. When new, apartments on floors 30 and above had an average price of 2,435,000 Yen/sqm, while lower floors were priced around 1,700,000 ~ 2,010,000 Yen/sqm. The building was completed in December 2017. As of December 2022 there were just 3 apartments listed for sale in the 940-unit building, and 1 of those was already under offer. The average asking price is currently 3,080,000 Yen/sqm. The average sale price in 2022 was 2,465,000 Yen/sqm, up 15.2% from 2021 (2,140,000 Yen/sqm) and up 18.2% from 2020 (2,085,000 Yen/sqm). This apartment sold for 23% more than an identical apartment a few floors up sold for in early 2021 and 43% more than a similarly-sized apartment on the same floor sold for in 2018. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date.

Shirokane The Sky is a 45-story, 1,247-unit high-rise apartment tower in central Tokyo. It was completed in December 2022. This was the largest condominium based on total unit count to have been developed within Tokyo’s Yamanote Line between January 1993 and 1999. Sales began in October 2019 and all units had been sold by October 2022. When new, the prices range from 1,640,000 ~ 3,725,000 Yen/sqm. Currently, the average asking price on the resale market is around 2,745,000 Yen/sqm, with apartments over 80 sqm listed for 3,100,000 Yen/sqm, and apartments under 80 sqm averaging 2,615,000 Yen/sqm. This apartment sold for approximately 30% more than a similar one would have been priced at when sold off-the-plan. 

The Roppongi Tokyo is a 39-story, 611-unit high-rise in the Roppongi neighbourhood with concierge, gym, guest suite and resident lounge. The current average asking price in this building is 3,250,000 Yen/sqm, with apartments over 80 sqm in size having an average ask of 3,430,000 Yen/sqm. The average sale price in 2022 was 2,515,000 Yen/sqm, up 10% from 2021 (2,290,000 Yen/sqm) and up 20% from 2020 (2,085,000 Yen/sqm). Apartments over 80 sqm had an average sale price of 2,720,000 Yen/sqm, up 18% from the average in 2021 (2,300,000 Yen/sqm). This was a tenanted apartment that sold with a gross yield of 3.3%. 

Eastern Homes Hiroo was designed by Archi Site Mobius Architects and Associates. It is a low-rise building with just 14 apartments. This was a spacious apartment with an updated interior on the 2nd floor. It sold for 12% more than what the neighboring apartment was listed for earlier in the year and has been the most expensive reported resale in this building on a price-per-square-meter basis to date. In the 2000s and early 2010s, apartments were selling for around 800,000 ~ 1,100,000 Yen/sqm.