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.

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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.

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Will 2014 be a seller's market for Tokyo real estate?

The Tokyo apartment market is showing all the signs of shifting towards a seller’s market in 2014.

What defines a seller’s market will vary depending on who you talk to, but many suggest it is when there is 3 ~ 9 months of inventory remaining on the market. Other conditions include:

  • More buyers than properties for sale? Yes
  • Prices are rising? Yes
  • Inventory is falling? Yes
  • Discounts are shrinking? YesRead more

Mitsubishi's latest offering set to be Japan's most expensive apartments

Mitsubishi Jisho Residence announced that they will begin sales of apartments in The Parkhouse Grand Chidorigafuchi in early September.

With an average price of 2.4 million Yen/sqm, apartments in The Parkhouse will be the most expensive apartments to be released for sale across Japan since 2008. According to Mitusbishi Jisho's president, the pricing reflects the premium location of the building and was decided prior to the recent spate of good news about Tokyo's property market.

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Grosvenor to sell luxury apartments in The Westminster Roppongi (aka Roppongi Arents)

International property development group, Grosvenor, will be selling off individual apartments in a luxury residential building adjoining the Roppongi Hills complex.

The Westminster Roppongi (previously named Roppongi Arents) is a 14-storey apartment building that was completed in 2003 - the same time as Roppongi Hills. Apartments range in size from 88.45 to 288.77 sqm (951 ~ 3107 sqft) and have previously been rented for between 470,000 ~ 2,200,000 Yen per month.Read more

Second-hand apartment prices up 9% from June, 2009

Second-hand apartment prices are slowly recovering. As they are comparatively cheaper than brand new apartments, demand is returning and the viewpoint that this is no longer the bottom of the market is emerging.

Nagoya's 7 cities see the highest increase of 2.7%

Real estate information provider, Tokyo Kantei, reported that the average price of a 70sqm apartment in Tokyo's 23 Wards reached 42.97 million Yen in March, 2010. This is 9% higher than the bottom average price that was recorded in June, 2009.

From Autumn of 2009, Tokyo, Yokohama and Saitama have been showing signs of transitioning into a bullish market. Nagoya's 7 cities had the largest rate of growth of 2.7% compared to the previous month, with Osaka and Kobe seeing almost no change.

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