Tokyo Apartment Sales in January 2023
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of January 2023:
Mita Garden Hills now on sale with a 4.5 billion Yen apartment on offer
Sales in the 1,002-unit Mita Garden Hills luxury apartment development in central Tokyo started last week with pricing looking to average around 4 million Yen/sqm (US$2,860/sq.ft).
Apartment asking prices climb 13.2% in 2022
The average asking price of a 70 sqm (753 sq.ft) second-hand apartment across the greater Tokyo region in 2022 climbed 13.2% to 47,160,000 Yen. This was the second year in a row to record double-digit growth.
Hotel Okura South Wing redevelopment to start in 2024
Construction of a 225-meter tall tower to replace the former Hotel Okura South Wing building in Roppongi will start in 2024, with completion scheduled for 2028.
New apartment prices in Sapporo hit highest level on record
The average price of a brand-new apartment in Sapporo reached its highest level on record in 2022. According to the Sapporo-based Housing Distribution Research Institute, the average price reached 47.82 million Yen, up 17% from 2021 and the highest price since record-keeping began in 1989.
Japan's luxury hotel market emerges from pandemic pause
The chances of picking up prime hotel or resort asset deals in Japan may be over as the industry swings back into full gear.
Major developer, Mitsui Fudosan, has reported that its revenue from hotel operations has recovered to around 90% of pre-pandemic levels. Demand from tourists from North America and Europe has been particularly strong, making up for the decline in business trips.
35-story tower for Kyobashi
Tokyo Tatemono is planning a 35-story, 180-meter-tall high-rise for Kyobashi. Construction will start in 2025 with completion tentatively scheduled for 2029. A city planning decision was granted on January 13.