Same-day sellout in Ueno high-rise

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All 248 apartments offered for sale in the first round of sales in a high-rise building that will overlook Ueno Park have received purchase applications. The apartment building, which is still three years away from completion, is now close to 70% sold.

Brillia Tower Ueno Ikenohata is a 36-storey apartment building located across the street from Tokyo’s Ueno Park. The 361-unit building is being developed by Tokyo Tatemono and is due for completion in June 2019.

The first round of sales was held over three stages with a total of 248 apartments on offer. All apartments offered at each round received purchase applications. Approximately 336 applications were submitted for the 187 apartments, with lucky buyers selected via a raffle. One of the more popular apartments received 9 purchase applications.

Apartments range in size from 41 ~ 127 sqm (441 ~ 1,366 sq.ft) and were priced from 55.88 ~ 288.88 million Yen. Average prices were around 1,400,000 ~ 1,500,000 Yen/sqm, which is about 40 ~ 50% higher than the average resale price on apartments less than 10 years old in the same area.

Apartments are small in size with two bedroom units starting from 58 sqm (624 sq.ft) and three bedroom units starting from 62 sqm (667 sq.ft).

The 35th and 36th floor apartments range in size from 90 ~ 127 sqm (968 ~ 1,366 sq.ft) and have an average price of around 1,950,000 Yen/sqm. Apartments with an eastern exposure which offers views over Ueno Park were priced around 2,130,000 Yen/sqm, which is 20% more than apartments without park views.

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Source: The Jutaku Shimbun, July 13, 2016.

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