All apartments available for sale in The Parkhouse Grand Chidorigafuchi have already sold out. 22 apartments ranging from 160 ~ 542 million Yen (1.61 ~ 5.46 million USD) were offered for sale earlier this month.
A total of 112 purchase applications were made, with each apartment received an average of 5.09.A 1-Bedroom apartment priced at 169 million Yen received a total of 13 applications, while the most expensive apartment – a 3-bedroom priced at 542 million Yen – received 10 applications. The successful buyers were decided by a lottery type system.
75% of the buyers were over the age of 50.
With an average price of around 2.4 million Yen/sqm (24,000 USD/sqm or 2230 USD/sqft), this is the most expensive apartment building to be developed in Japan since 2008.
Although there are 73 apartments in the building, 51 will go to the original landholder – a construction and real estate company. These apartments may possibly be used as rental units when the building is completed in early 2015.
The 14-storey building overlooks the Chidorigafuchi moat and Imperial Palace grounds.
More details on the building can be found here.
Jutaku Shimpo, September 17, 2013.
The Sankei Shimbun, September 17, 2013.