Tokyo Apartment Sales in December 2015

Tokyo apartment sales dec2015

The following is a selection of apartments that were sold in central Tokyo during the month of December 2015:

BuildingSold Price
(Yen/sqm)
(USD/sq ft)Days ListedDiscount
Ebisu Garden Terrace (1994)
3-Bedrooms
¥2,194,000
/sqm
$
/sq ft
132.4%

Despite the age of the buildings, apartments in Ebisu Garden Terrace have been trading at prices similar to much more recent construction in central Tokyo. This unit, located on a high floor, is now the highest reported sale per date on a price per square meter basis in this building for the past 21 years. The average sale price reached a low of 1,130,000 Yen/sqm in 2013, but sales in 2015 have been around 1,670,000 Yen/sqm, showing an appreciation of around 48% over the past two years, and 28% over the past 12 months. In 2007-2008, apartments were selling for an average of around 1,650,000 Yen/sqm. The residences form part of the Ebisu Garden Place complex which has restaurants, retail, office space and the Westin Hotel.

Grand Suite Toranomon (2007)
2-Bedrooms
¥1,652,000
/sqm
$
/sq ft
276.6%

Located across the street from Toranomon Hills (2014 completion). This was a corner unit on a high floor. A similar apartment on the same floor sold for 1,170,000 Yen/sqm in early 2014 indicating an increase in price of around 41% over the past two years.

Kita Aoyama Park Mansion (1983)
3-Bedrooms
¥1,152,000
/sqm
$
/sq ft
191.3%

A vintage building located near Omotesando and the Olympic Stadium. This was an unrenovated, but spacious apartment on the ground floor. It was priced reasonably for the current market and sold in a very short time at a minimal discount. Back in 1995, a similar apartment also on the ground floor sold for 1,188,000 Yen/sqm.

Domus Aoyama (1977)
2-Bedrooms
¥1,146,000
/sqm
$
/sq ft
220%

Another vintage apartment building in the Omotesando area. This unit was renovated and had two bathrooms. It sold in a very short time and with no discount. The average sale price in this building in 2015 was 1,109,000 Yen/sqm, up 66% from the bottom in 2012. This has been the highest sale per date on a price per square meter basis in this building since 1994 when the average re-sale price was 1,485,000 Yen/sqm. In the late 1990s and early 2000s, the average sale price in this building was around 917,000 Yen/sqm.

Proud Tower Chiyoda Fujimi (2009)
3-Bedrooms
¥1,740,000
/sqm
$
/sq ft
1232%

A high-rise condominium located close to Iidabashi Station. Despite being on a low floor, this has been the highest sale to date in this building on a price per square meter basis. The average sale price in 2015 has been around 1,611,000 Yen/sqm, up 23.6% from 2014 (1,303,000 Yen/sqm), and up 32.2% from 2013 (1,219,000 Yen/sqm).

The Tokyo Towers (2008)
3-Bedrooms
¥1,034,000
/sqm
$
/sq ft
600%

A large complex containing 2,799 units in two 58-storey towers on a man-made island in Tokyo Bay. This was a corner unit on a high floor. The same apartment was reported to have sold in mid-2014 for 1.5% more than the latest sale price, which could indicate either a reseller sold at a loss this time or the agency has mis-reported the transaction. Despite being a 7-year old building, the apartment sold at a price similar to brand new units in the nearby ‘Kachidoki The Tower’ project which is due for completion in late 2016. The average sale price in 2015 has been around 922,000 Yen/sqm, down 1.8% from 2014 (939,000 Yen/sqm), while the median sale price in 2015 was 73,450,000 Yen, down 13.1% from 2014. The average price per square meter is still up 16.8% from 2013 (789,000 Yen/sqm).

Olympic fever appears to have been short-lived. While apartments in central Tokyo’s prime locations have increased anywhere from 30 ~ 70% over the past two years, The Tokyo Towers, which is in the bayside area (an area that will host the Athlete’s Village and several other events), has seen prices rise at half the rate of central Tokyo, and prices have even fallen over the past 12 months.

Park Court Akasaka The Tower (2009)
2-Bedrooms
¥1,747,000
/sqm
$
/sq ft
583.6%

A luxury high-rise in Akasaka. The average sale price in 2015 has been 1,703,000 Yen/sqm, up 17.4% from 2014 (1,451,000 Yen/sqm) and up 33.9% from 2013 (1,272,000 Yen/sqm).

The same type of apartment on a lower floor sold for 1,138,000 Yen/sqm in 2012 when the market was at its bottom.

Shibaura Island Cape Tower (2006)
3-Bedrooms
¥881,000
/sqm
$
/sq ft
2672.1%

A 48-storey tri-star-shaped residential tower containing over 1,000 units. The average sale price in 2015 has been 985,000 Yen/sqm, up 8.2% from 2014 and up 18.1% from 2013. Resale prices reached a bottom of 793,000 Yen/sqm in 2011, but are currently at the highest level seen since the building was completed.

The Parkhouse Harumi Krono Residence (2013)
3-Bedrooms
¥912,000
/sqm
$
/sq ft
170.4%

The earlier of the two towers built on the man-made island of Harumi in Tokyo Bay. The average resale price in 2015 was 969,000 Yen/sqm, up 2.4% from 2014 (946,000 Yen/sqm). Back in 2012, apartments were priced at an average of 770,000 Yen/sqm, indicating an appreciation of 25.8% over the past three years. Most of the appreciation occurred between initial sale of the apartments off-the-plan back in 2012, and in 2014 when the building was just completed.

About the data:

  • The data is based on information supplied to REINS by agents.
  • This information is voluntarily provided, and not all transactions are recorded.
  • Show Foto cannot guarantee the accuracy of the information provided.
  • The discount, for example, is based on the last advertised listing price at the time of sale, rather than the original list price.
  • Some listings are constantly updated, so the days listed between listing on REINS and final sale may not be accurate. The days listed is also based on the day that the agent registered the property as being sold, which is sometimes done on the day of the contract signing, settlement or even later if the agent forgets to update the listing.
  • Not every sale is reported above.
  • Price per square meter or per square foot is calculated based on apartment’s internal floor area and does not include balconies, car parks or common areas.
  • Exchange rate is at the time of publishing the article and is subject to change (1 USD: 123 Yen).
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