The following is a selection of apartments that were reported to have sold in central Tokyo during the month of January 2023:

Building Sold Price
(Yen/sqm)
(USD/sq.ft) Days Listed Discount
 
Ark Hills Sengokuyama Residence (2012)
1-Bedroom
¥4,018,000
/sqm
$2,845
/sq ft
54 0%

Ark Hills Sengokuyama is a 47-story mixed-use development by Mori Building. The high-end residences are located on the lower floors of the building and include concierge service and the Hills spa. Despite having 243 apartments, including Mori’s rental-only units, there is currently only 1 sale listing with an asking price of 4,100,000 Yen/sqm. This apartment was on a mid floor. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date. It sold for 70% more than an identical apartment a few floors down sold for in 2016 and 13% more than a similar apartment on the same floor was listed for last year. 

The average list price in this building in 2022 was 3,980,000 Yen/sqm, up 13.7% from 2021 (3,500,000 Yen/sqm), and up 53.1% from 2020 (2,600,000 Yen/sqm). 

 
Grand Hills Ebisu (2019)
3-Bedroom
¥3,043,000
/sqm
$2,155
/sq ft
32 2.4%

Grand Hills Ebisu was originally named City Tower Ebisu, and is a 23-story, 310-unit high-rise in Ebisu. There are currently 14 sale listings with an average list price of 2,840,000 Yen/sqm. Apartments over 100 sqm in size have an average price of 3,835,000 Yen/sqm, and apartments under 80 sqm in size have an average price of 2,500,000 Yen/sqm. 

This was a relatively large apartment on a high floor. It sold for approximately 15% more than a similarly-sized apartment a few floors up sold for in early 2020.

 
Hirakawacho Mori Tower Residence (2009)
1-Bedroom
¥2,909,000
/sqm
$2,060
/sq ft
39 0.9%

Hirakawacho Mori Tower is a 24-story mixed-use office and residential building developed by Mori Building in 2009. Lower floors contain office, while upper floors contain luxurious residences. When new, apartments were priced between 1,100,000 ~ 1,800,000 Yen/sqm, while penthouse units were priced at around 3,000,000 Yen/sqm. There are currently 2 sale listings in the 122-unit building with an average price of 3,600,000 Yen/sqm. This apartment sold for 29% more than it previously sold for just six months prior and has been the most expensive reported resale in this building on a price-per-square-meter basis to date. 

 
Park Court Akasaka The Tower (2009)
2-Bedroom
¥2,572,000
/sqm
$1,820
/sq ft
142 1.3%

Park Court Akasaka The Tower is a 43-story, 518-unit luxury high-rise in Akasaka. The current average asking price in this building is around 2,790,000 Yen/sqm, with 8 listings as of January 2023. The average resale price in 2022 was 2,560,000 Yen/sqm, up 28.6% from 2021 (1,990,000 Yen/sqm), and up 47.1% from 2020 (1,740,000 Yen/sqm). This apartment sold for 92% more than it previously sold for in 2014 and 38% more than an identical apartment a few floors up sold for in 2020.

 
Belle Maison Ikedayama (1977)
2-Bedroom
¥1,836,000
/sqm
$1,300
/sq ft
51 0%

This is a vintage low-rise apartment building near Gotanda Station. This apartment sold for 76% more than it was previously listed for in 2018, and had been given a contemporary renovation by a famous architectural practice. 

 

About the data:

  • The data is based on information supplied to REINS by agents.
  • This information is voluntarily provided, and not all transactions are recorded.
  • Japan Property Central cannot guarantee the accuracy of the information provided.
  • The discount, for example, is based on the last advertised listing price at the time of sale, rather than the original list price.
  • Some listings are constantly updated, so the days listed between listing on REINS and final sale may not be accurate. The days listed are also based on the day that the agent registered the property as being sold, which is sometimes done on the day of the contract signing, settlement or even later if the agent forgets to update the listing.
  • Not every sale is reported above.
  • Price per square meter or per square foot is calculated based on the apartment’s internal floor area and does not include balconies, car parks or common areas.
  • Exchange rate is at the time of publishing the article and is subject to change (1 USD: 131.08 Yen).

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