Same-day sellout in Brillia Tower Yoyogi-Koen Classy
All apartments offered in the first round of sales in a new high-rise just west of Yoyogi Park have sold out on the first day. A total of 116 apartments were offered for sale in late May, and a further 15 were offered on June 11. A total of 210 applications were made on the 131 apartments, with the most popular apartment receiving 15 applications. The average price of an apartment sold was 120 million Yen (approx. 1.07 million USD). The building is now 67% sold.
Kyoto’s most expensive rental apartments to open in 2018
Kyoto’s most expensive rental apartment building is scheduled open in May 2018. The 5-storey La Tour Kyoto Higashiyama residence is being developed by Sumitomo Realty in the Higashiyama ward. It will be part of Sumitomo’s 'La Tour' brand of high-end rental apartments. The developer currently operates 20 La Tour buildings in central Tokyo, but this will be their first one outside of the capital.
12 Exclusive residences planned for Toranomon high-rise
A limited number of high-end penthouse condominiums are planned for the Tokyo World Gate development in central Tokyo’s Toranomon district.
The 12 luxuriously appointed residences will range in size from 150 ~ 400 sqm (1,614 ~ 4,304 sq ft). One of the residences will be a duplex-style apartment with ceiling heights of up to 6 meters. These exclusive residences are aimed at world-class business executives looking for one-of-a-kind sky homes in the heart of Tokyo.
Tokyo apartment sale prices increase for 57th month
According to REINS, 3,333 second-hand apartments were sold across greater Tokyo in June, up 11.7% from the previous month and up 8.6% from last year. The average sale price was 31,620,000 Yen, down 0.3% from the previous month but up 4.8% from last year. The average price per square meter was 496,100 Yen, up 0.2% from the previous month and up 3.8% from last year. This is the 54th month in a row to record a year-on-year increase in sale prices. The average building age was 21.07 years.
In the Tokyo metropolitan area 1,750 second-hand apartments were sold, up 14.2% from the previous month and up 10.5% from last year. The average sale price was 38,640,000 Yen, down 1.7% from the previous month but up 3.2% from last year. The average sale price per square meter was 650,600 Yen, down 1.5% from the previous month but up 1.3% from last year. This is the 57th month in a row to record a year-on-year increase in sale prices. The average building age was 20.00 years.
23-storey apartment tower planned for Roppongi Itchome
Real estate developer Mori Trust is planning a 23-storey, 80-meter tall apartment building for a site in Roppongi. Completion is scheduled for late May 2019.
The Roppongi Itchome Project is located on the same block as Ark Hills Sengokuyama Mori Tower and across the street from Park Court Roppongi Hilltop. The site was previously a training building for the Ministry of Agriculture, Forestry and Fisheries. Mori Trust acquired the site in early 2010 and demolished the former office building in 2011.
Sales start in 50-storey high-rise in Osaka
Off-the-plan sales in the 50-storey Branz Tower Umeda North condominium began over the weekend, with the most expensive unit in the building - a 145 square meter three-bedroom penthouse - priced at 270 million Yen (approx. 2.37 million USD). A total of 218 apartments were offered for sale in the first round, representing a third of the total units in the building. Sale prices ranged from 36 to 270 million Yen and sizes ranged from 42 ~ 145 sqm (452 ~ 1,560 sq ft).
The 653-unit building is due for completion in November 2019 with apartments delivered to buyers from February 2020 onwards.
How long does it take to for an apartment to sell in central Tokyo?
We find many clients miss out on some great purchases because they assume they will have plenty of time before a property sells. One of the biggest mistakes you can make when trying to enter a major market like Tokyo is to think that you are the only buyer out there. In reality, there are a lot of buyers circling the market, especially in central Tokyo. The vast majority are domestic buyers who know the market and are able to pounce quickly.