Instant sellout in The Tower Yokohama Kitanaka

All 730 apartments offered in the first round of sales for The Tower Yokohama Kitanaka have been sold. This was the highest number of apartments to have ever been released for sale in a building in Yokohama city in history. The 58-storey, 1,176-unit high-rise is also the largest building based on apartment-count to be built in the city since 1993.

Apartments were priced from 45 ~ 800 million Yen, with an average price of 1,200,000 Yen/sqm. The 212 sqm, 800 million Yen apartment has been the most expensive new apartment to have ever been sold in Yokohama.

Approximately 4,400 groups visited the sales office between late August and early December. A total of 2,100 purchase applications were made on the 730 apartments, with the most popular apartment receiving 38 applications. Lucky buyers were selected via a raffle-type system.

Almost 70% of the buyers were single or two-person households. 72% of buyers were residents of Yokohama or Tokyo. Half of the buyers were aged in their 40s and 50s.

The building will include retail on the lower floors, as well as serviced apartments on higher floors. Construction is scheduled for completion by late February 2020.

The second round of sales will begin in February 2018.

Source: Mitsui Fudosan Residential & Marubeni News Release, December 5, 2017.