Residential yields and vacancy rates in Minato-ku - October 2014
According to real estate listing site Homes, the average gross yield on an apartment in Minato-ku in October was 5.0%, down 0.6 points from the previous month and down 0.8 points from last year. The average gross yield across Tokyo was 6.9%, down 0.1 points from the previous month and down 0.8 points from last year.
The vacancy rate remains unchanged at 9.9% in Minato-ku and 11.0% across Tokyo.
The average asking price of a secondhand apartment in Minato-ku was 797,243 Yen/sqm as of October 1, down 0.9% from the previous month but up 15.9% from last year. The average asking price for land was 1,278,181 Yen/sqm, down 0.07% from the previous month but up 22.4% from last year.Read more
Tokyo apartment sales in September 2014
The following is a selection of apartments that were sold in central Tokyo during the month of September 2014:Read more
Singapore developer buys Seiko Estate, plans to build luxury residences
Singapore-based City Developments (CDL) and an US investment firm have purchased the historic and expansive estate of Seiko founder Kintaro Hattori in Shirokane for approximately 30.5 billion Yen (279 million USD).
CDL plan to develop luxury condominiums on the 16,815 sqm site and also plan to conserve the historic residence of Mr. Hattori which was built in 1933.Read more
3-Bedroom apartment for sale in Roppongi Hills
Become part of the exclusive Roppongi Hills Tribe.
| Price: SOLD | Size: 121.93 sqm (1,312 sqft) |
*This apartment sold in early December 2014 and is no longer available. It was listed for 67 days and sold at a 0% discount*
A 3-Bedroom apartment on the 41st floor in Roppongi Hills Residence B was listed for sale yesterday. This is a rare corner apartment located on the north-west corner of the building. The estimated rent on this apartment is approximately 1,100,000 Yen/sqm*. It is currently occupied by the owner and inspections are available by advance appointment only.
At the moment this is the only apartment available for sale in Residence B. Since 2012, there have only been 6 apartments listed for sale in this building and only 3 of them were over 100 sqm in size. The most recent sale was a 3-Bedroom 150 sqm apartment on a lower floor which sold for approximately 371 million Yen (2,473,000 Yen/sqm) earlier this year.
While we have recently seen prices skyrocket in other high-rise buildings around central Tokyo, apartment prices in Roppongi Hills have remained at consistently high levels for the past 10 years.Read more
Secondhand apartment prices in August 2014 - Tokyo Kantei
According to Tokyo Kantei, the average asking price of a 70 sqm (753 sqft) second-hand apartment in Tokyo’s 23 wards was 41,930,000 Yen in August, up 0.5% from the previous month and up 3.9% from last year. The average apartment age was 22.4 years.
In central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 58,570,000 Yen, up 0.9% from the previous month and up 8.7% from last year. The average apartment age was 24.4 years.
The average price across greater Tokyo was 28,140,000 Yen, down 0.4% from the previous month but up 0.9% from last year. The average building age was 21.7 years.Read more
August rental data - Tokyo Kantei
According to Tokyo Kantei, the average monthly rent of a condominium apartment in greater Tokyo was 2,561 Yen/sqm in August, up 0.1% from the previous month and up 0.5% from last year. The average apartment size was 59.71 sqm and the average building age was 19.2 years.
The average rent in Tokyo’s 23-ku was 3,166 Yen/sqm, down 0.3% from the previous month but up 2.3% from last year. The average apartment size was 56.65 sqm and the average building age was 17.5 years.Read more