The most expensive apartments in Tokyo (2018 ranking)

The following is a ranking of the most expensive apartments in Tokyo provided by apartment information site Mansion Review (mansion-review.jp). It is not surprising to note that 9 of the top 10 buildings are located in Minato-ku, while 1 is located in Chiyoda’s Bancho neighborhood.

1: Toranomon Hills Residence ― 3,849,000 Yen/sqm (3,200 USD/sqft)

Developed by Mori Building and completed in 2014, Toranomon Hills is a 247m tall mixed-use high-rise located in the rapidly gentrifying Toranomon district in Minato-ku. The apartments are located on floors 37 ~ 46, with the Andaz hotel located above. Only 172 of the 70 apartments were available for sale, with the rest held by Mori as rental-only units. The above price may be a little on the low side for current market prices in this building. Based on the few listings that were available over the past year, expect to pay anywhere from 4,700,000 ~ 5,500,000 Yen/sqm (3,900 ~ 4,500 USD/sqft).

2: The Parkhouse Gran Chidorigafuchi ― 3,352,000 Yen/sqm (2,800 USD/sqft)

Famous for setting a nationwide price record when apartments went on sale in late 2013. All apartments released for sale were sold out within a day. When new, apartments were priced around 2,400,000 Yen/sqm. There have been only a handful of resales over the past 3 years with the most recent being in 2017 when an apartment was listed for 3,621,000 Yen/sqm.

3: Park Court Akasaka Hinokicho The Tower ― 3,301,000 Yen/sqm (2,700 USD/sqft)

A 44-storey high-rise that adjoins Tokyo Midtown. Sales began in late 2015 – 28 months before construction was completed. The building was oversubscribed with with almost 2 buyers for each apartment. Lucky buyers were selected via a lottery-type system. A number of investors bought units off-the-plan, resulting in a large number of apartments appearing for resale this year. Demand has remained strong with these apartments snapped up at high resale prices. The average resale price to date in 2018 has been around 3,350,000 Yen/sqm.

4: The Parkhouse Gran Minami Aoyama ― 3,135,000 Yen/sqm (2,600 USD/sqft)

Another of Mitsubishi’s ‘The Parkhouse Gran’ series of luxury developments. This one is in the fashionable and sought-after Omotesando neighborhood. Sales began in mid-2015 and all apartments sold on the first day of sales with an average of 9.6 buyers per apartment. The average price when new was 2,300,000 Yen/sqm. Current asking prices in 2018 are around 3,490,000 Yen/sqm (2,900 USD/sqft).

5: Park Mansion Mita Tsunamachi The Forest ― 2,908,000 Yen/sqm (2,400 USD/sqft)

‘Park Mansion’ is Mitsui Fudosan’s most luxurious condominium brand. The building had sold out by December 2014, 14 months before construction was completed. When new, apartments had an average price of 2,110,000 Yen/sqm, with some apartments priced over 4,000,000 Yen/sqm. Expect to pay anywhere from 3,000,000 ~ 3,770,000 Yen/sqm (2,500 ~ 3,100 USD/sqft) for a resale in the current market.

6: Park Court Aoyama The Tower ― 2,838,000 Yen/sqm (2,350 USD/sqft)

The curved glass facade on this building sets it apart from any other residential tower in Tokyo. Off-the-plan sales began in October 2016 with apartments priced around 2,800,000 Yen/sqm. Residents have private access to their own rooftop pool, lounge, movie theatre and gym. Current resale listings range from 2,500,000 ~ 6,200,000 Yen/sqm (2,050 ~ 5,100 USD/sqft).

7: Proud Shirokanedai ― 2,674,000 Yen/sqm (2,200 USD/sqft)

8: Premist Minami Aoyama ― 2,666,000 Yen/sqm (2,200 USD/sqft)

9: Foretseine Akasaka Hinokizaka ― 2,596,000 Yen/sqm (2,150 USD/sqft)

10: Roppongi Grand Tower Residence ― 2,575,000 Yen/sqm (2,100 USD/sqft)

Source: Money Gendai, December 8, 2018.