Domestic sales in The Parkhouse Shibuya Nanpeidai are scheduled to start at the end of this month, with 35 units on offer.Pre-sales to overseas investors in Hong Kong started in 2017. The 10-storey condominium is located a 7 minute walk from Shibuya Station and 300 meters from Cerulean Tower. This is the first new condominium to go on sale in the Nanpeidai address in 11 years.
Apartments will be priced from 120 ~ 710 million Yen (approx. 1.06 ~ 6.2 million USD). With an average price of 2,570,000 Yen/sqm (approx. 2100 USD/sq.ft), this is the most expensive condominium to go on sale in this area to date. New condominium developments are rare in this address with only 4 projects since 1995.
The 100 apartments range from 1 to 3 Bedroom units with sizes ranging from 56.44 ~ 215.30 sqm (607 ~ 2,317 sq.ft). In total there are 23 different layouts catering to a wide variety of potential buyers including those in their 50s looking to purchase second-homes, younger singles as well as investors. The majority of apartments supplied will be in the 90 sqm (968 sq.ft) range. Resident facilities will include a lounge, concierge desk and valet. Residents may also be able to join the gym at the nearby Cerulean Tokyu Hotel.
The sales website has received over 1,100 inquiries since it was published on July 3, 2018. Half of the inquiries have come from residents of Shibuya and Minato wards, with another 10% from foreigners. The show room, which features the 215 sqm, 710 million Yen apartment as a model room, opened on October 6.
The building is due for completion in mid-November 2019 with apartments delivered to buyers from January 2020 onwards.
The Nikkei Shimbun, October 3, 2018.
R.E.Port, October 3, 2018.