The following is a selection of apartments that were sold in central Tokyo during the month of January 2017:
|(USD/sq ft)||Days Listed||Discount|
|Toranomon Towers Residence (2006)|
|A 41-storey high-rise located in the Toranomon district.|
This was a corner unit on a high floor. It sold in a short period of time at full ask. This has been the 3rd most expensive sale in this building on a price-per-square-meter basis since early 2008. It sold for approximately 52% more than an identical apartment a few floors down sold for in 2013.
The current asking price in this building ranges from 1,730,000 ~ 2,140,000 Yen/sqm.
|Waterras Tower Residence (2013)|
|A large-scale, mixed-use development with office, retail and luxury residences near Shin-Ochanomizu and Akihabara Stations.|
The average sale price in 2016 was around 1,975,000 Yen/sqm.
Despite having over 300 apartments in the 41-storey building, there was only 1 apartment available for sale as at February 2017.
|Open Residencia Ginza 2 Chome (2016)|
|A recently completed compact-style apartment building located near the Chuo Ward Office and 700 meters from the Ginza 4 Chome Intersection. The building is primarily suited towards investors. The current asking price for a small studio is around 1,900,000 Yen/sqm.|
|Park Court Akasaka The Tower (2009)|
|A luxury high-rise in Akasaka. The current average asking price in this building is around 1,800,000 Yen/sqm. Apartments on the 10th floor and lower have an average asking price of 1,740,000 Yen/sqm, while apartments on floors 20 and above have an average asking price of around 1,910,000 Yen/sqm (approx. 10% more than lower floors).|
The average sale price in 2016 was 1,575,000 Yen/sqm, down 7.5% from 2015 (1,703,000 Yen/sqm), but up 7.9% from 2014.
This was the 3rd most expensive sale on a price-per-square meter basis in this building over the past 12 months.
|Saion Sakurazaka (2009)|
A 26-storey high-rise located near the US Embassy in the Akasaka/Toranomon district.
The average price in this building when new was approximately 1,550,000 Yen/sqm. Current asking prices range from 1,570,000 ~ 1,955,000 Yen/sqm.
This was a corner unit on a low floor. In 2011, an identical apartment a few floors up sold for around 1,010,000 Yen/sqm, indicating a potential appreciation of approximately 60% over the past 5 years. Last year, a similarly sized apartment on the same floor sold for approximately 1,522,000 Yen/sqm, indicating a potential appreciation of around 6.5% over the past 12 months.
|Diana Garden Hiroo (2006)|
|A 10-storey condominium located a 1 minute walk from Hiroo Station. Despite having over 100 units, there are few resales in the building. This has been one of only two reported sales in this building over the past two years.|
Over the past 12 months, the average resale price has been around 1,685,000 Yen/sqm, up 38% from 2014 (1,225,000 Yen/sqm).
|Park Luxe Ebisu (2011)|
|A 14-storey apartment building located between Daikanyama and Ebisu Stations. This was a corner unit on the top floor. |
Four months ago a similarly sized unit upstairs sold for 1,581,000 Yen/sqm, while an identical unit on a higher floor sold for 1,667,000 Yen/sqm in mid-2016. In 2015, the unit downstairs sold for 1,495,000 Yen/sqm.The average sale price in 2016 was 1,685,000 Yen/sqm, up 4.3% from 2015.
Current asking prices in this building are between 1,450,000 ~ 1,850,000 Yen/sqm.
|Mid Garden Akasaka Hikawa (2013)|
|Located 450 meters from Tokyo Midtown. Current asking prices in this building range from 1,630,000 ~ 2,020,000 Yen/sqm.|
On a price-per-square-meter basis, this apartment sold for approximately 15% more than two other apartments on the same floor sold for 12 months ago.
The average sale price in 2016 was 1,345,000 Yen/sqm, down 15.8% from 2015.
|Hiroo Garden Hills (1985)|
|A popular large-scale vintage apartment complex near Hiroo Station that was developed during the 1980s.|
Average asking prices are currently around 1,500,000 Yen/sqm, with apartments in the exclusive South Hill at around 2,000,000 Yen/sqm. Although there are 1,181 apartments in the complex, only 7 were listed for sale in February 2017, representing 0.6% of the total.
The average re-sale price in 2016 has been 1,530,000 Yen/sqm for apartments excluding those in South Hill, up 10% from 2015 and up 36% from 2014.
This apartment sold for approximately 48% more than an identical apartment on a higher floor sold for in 2011, but 15% less than the average sale price in the mid-1990s.
|Domus Minamiazabu West (1985)|
|A low-rise vintage apartment building in the Hiroo / Azabu neighbourhood. This has been the highest reported sale in this building on a price-per-square-meter basis for the past 20 years.|
The apartment sold in a very short period of time with very little discount.
|The Parkhouse Harumi Towers Tiaro Residence (2016)|
|A recently completed 49-storey condominium tower forming part of a two-tower complex on a man-made island in Tokyo Bay. Together, the two towers contain 1,744 apartments.|
The current average asking price in this building is around 1,075,000 Yen/sqm, and there were 61 apartments listed for sale in this building in January, down from 73 listings in December.
The average sale price in 2016 was around 999,000 Yen/sqm.
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 are 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: 112.76 Yen).