Sales in the Tokyo Bay Triple Tower Project to start in April

Sumitomo has started advertising City Towers Tokyo Bay (previously called the Tokyo Bay Triple Tower Project) – a large-scale three-tower condominium with over 1,500 apartments under construction on the man-made Ariake island in Tokyo Bay.

Sales were scheduled to start in late April 2017 but have been delayed until late May. Apartments are priced from 34 ~ 150 million Yen and above. The 43 sqm one bedroom apartments are to be priced from 34 million Yen, 54 ~ 55 sqm two bedroom apartments to be priced from 44 million Yen, and 70 sqm three bedroom apartments to be priced from 59 million Yen.

The average price per square meter is around 1,000,000 Yen which is almost 40% higher than the average resale price of existing apartments in the area (722,000 Yen/sqm in 2017).

The 1,539 apartments in the 32 ~ 33 story buildings will range in size from 38 ~ 118 sqm (409 ~ 1,270 sq ft). Many of the apartments are 3-Bedroom units around the 70 sqm range, while 2-Bedroom units are around 55 sqm in size.  The penthouse floors will feature larger apartments sized between 95 ~ 118 sqm

Completion is scheduled for July 2019 with apartments ready for delivery to buyers from late February 2020.

Existing condominiums in the Ariake area include:

Brillia Mare Ariake Tower & Garden (2008)

  • 1,085 apartments
  • Price when new: 818,000 Yen/sqm
  • Re-sale prices:
    2017: 760,000 Yen/sqm
    2016: 777,000 Yen/sqm
    2015: 780,000 Yen/sqm
Brillia Ariake Sky Tower (2010)

  • 1,089 apartments
  • Price when new: 727,000 Yen/sqm
  • Re-sale prices:
    2017: 772,000 Yen/sqm
    2016: 787,000 Yen/sqm
    2015: 794,000 Yen/sqm
Brillia Ariake City Tower (2014)

  • 600 apartments
  • Price when new: 655,000 Yen/sqm
  • Re-sale prices:
    2017: 866,000 Yen/sqm
    2016: 850,000 Yen/sqm
    2015: 880,000 Yen/sqm
City Tower Ariake (2009)

  • 483 apartments
  • Price when new: 727,000 Yen/sqm
  • Re-sale prices:
    2017: 670,000 Yen/sqm
    2016: 755,000 Yen/sqm
    2015: 786,000 Yen/sqm
Galleria Grande (2006)

  • 413 apartments
  • Price when new: 582,000 Yen/sqm
  • Re-sale prices:
    2017: 605,000 Yen/sqm
    2016: 633,000 Yen/sqm
    2015: 668,000 Yen/sqm
Horizon Mare (2004)

  • 398 apartments
  • Price when new: 597,000 Yen/sqm
  • Re-sale prices:
    2017: 659,000 Yen/sqm
    2016: 668,000 Yen/sqm
    2015: 707,000 Yen/sqm

Re-sale prices for apartments in Ariake in 2017 are on average down 3% from 2016 and down 6% from 2015.

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