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.
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.