Shioi Kosan, the private asset management company for fast-food bento maker Hotto Motto, has paid 25 billion Yen (approx. 230 million USD) to acquire the 8th floor of the Ginza Six retail and commercial building in Tokyo’s Ginza district. The sale price is more than double the price that the floor sold for 7 months prior.
Articles appearing in both the Nikkei Business Publication and the Business Journal have suggested that a block of land (with building) alongside Ginza’s main shopping street will be sold for a record price of up to 64 million Yen per square meter (approx. 570,000 USD/sqm or 53,000 USD/sq ft).
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Price when new: 39.9 ~ 129.9 million Yen (1,300,000 Yen/sqm)
Size range: 34.54 ~ 83.95 sqm (372 ~ 903 sq.ft)
Area: Minato, Chuo-ku
| ABOUT |
Sales started in mid-2017.
City Tower Ginza East is a 22-storey apartment building being developed by Sumitomo. It is located 110 meters from the Sumida River and 1,400 meters, or an 18 minute walk from the Ginza shopping street.
It is being built using the base isolation (menshin-kozo) method of earthquake-resistance construction which is the highest grade available and reduces the level of swaying in an earthquake.
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Price when new: 66 ~ 219 million Yen (approx. 1,300,000 Yen/sqm)
Size range: 58.05 ~ 100.42 sqm (625 ~ 1,081 sq.ft)
Area: Akashicho, Chuo-ku
| ABOUT |
Sales began in August 2017.
Proud Ginza Higashi Residence is located 1,100 meters, or a 14 minute walk from Ginza’s main shopping avenue and 500 meters from Sumida River. It is a 2 minute walk from Shintomicho Station on the Yurakucho Subway Line.
The 12-storey building includes 102 two and three-bedroom apartments, and 22 car spaces. The resident lounge interior has been designed by Hirsch Bedner Associates (HBA). This firm has also done interiors for Four Seasons, Shangri-La and the Grand Hyatt.
In August, railway operator Hankyu Corporation acquired a block of vacant land in Ginza for 13.5 billion Yen (approx. 132 million USD). The purchase price worked out to be approximately 43,700,000 Yen per square meter (40,000 USD/sq.ft), or around 4,500,000 Yen per buildable square meter (4,100 USD per buildable square foot) based on a potential 3,000 square meter building.
The 308.88 square meter (3,323 sq.ft) corner block of land is located alongside Namiki Dori Avenue. It was originally the site of the 10-storey Tokyo Chusha Building, which had a total floor area of 3,000 square meters (32,280 sq.ft). The building was demolished in 2015.
Price when new: 40.9 ~ 67.1 million Yen (1,635,000 Yen/sqm)
Size range: 25.11 ~ 40.97 sqm (270 ~ 441 sqft)
Area: Ginza, Chuo-ku
| ABOUT |
Open Residencia Ginza 2 Chome is a 10-storey compact-style residential building located 200 meters from the Chuo Ward Office. It is 700 meters from the Ginza 4 Chome Intersection, but the immediate area around this property is primarily a crowded and old district. It is also 110 meters from Wellith Ginza 2 Chome.
The following table shows the change in apartment prices along the Ginza Subway Line (Japan’s oldest subway line). This subway line runs from Shibuya to Asakusa and passes through several of the city’s prime residential and business districts, many of which have seen a boost in prices over the past few years.
The average price across all stations on the Ginza line was 1,000,000 Yen/sqm in 2015, up 19.8% from 2014. The average building age was 21.0 years, down from 23.6 years in 2014. The average apartment size was 56.35 sqm (606 sq.ft), down from 60.76 sqm in 2014.
All 28 apartments offered during the first round of sales in Mitsubishi Jisho Residence’s The Parkhouse Higashi Ginza sold out on the same day.
The 13-storey apartment building is located a 1 minute walk from Shintomicho Station and is 700 meters from Ginza’s Chuo Dori Street. Apartments range in size from 70 ~ 81 sqm (753 ~ 872 sqft) and are all 3-bedrooms. Prices ranged from 74 ~ 108 million Yen (640,000 ~ 920,000 USD), with an average price of around 1,240,000 Yen/sqm.
The sales office received 1,587 inquiries and had 276 groups visit the showroom. Each apartment received an average of 1.9 purchase applications, with the most popular apartment receiving 5 applications. The lucky buyers were selected via a lottery-type system.
Average price: 2,000,000 Yen/sqm
Size range: 40.07 ~ 80.21 sqm (431 ~ 863 sqft)
Location: Ginza, Chuo-ku
| ABOUT |
Wellith Ginza 2 Chome is located 600 meters from the famous Ginza 4 Chome Crossing (Mitsukoshi and Wako Department Stores) and 360 meters from Chuo Dori Avenue.
Construction was completed at the end of February 2015, and apartments were ready for delivery by early August 2015.
When new, apartments were priced from 62.3 ~ 209 million Yen+, with an average price of around 1,920,000 Yen/sqm. All new apartments had sold out by July 2015.
Average price: 1,500,000 Yen/sqm
Size range: 25.23 ~ 72.66 sqm (271 ~ 782 sqft)
Area: Ginza, Chuo-ku
| ABOUT |
Sales were scheduled to begin at the end of October 2014 but were delayed until February 2015. All apartments had sold out by April 2015. When new, apartments were priced from 31.88 ~ 93.88 million Yen with an average price of around 1,280,000 Yen/sqm.
Park Luxe Ginza mono is located within the Ginza address, but the surrounding neighbourhood is a little different from the boutique-lined stores in Ginza’s famed shopping area. The closest train station is Tsukijishijo Station near the Tsukiji fish market. The fish market is a prime tourist attraction but is scheduled for relocation to the man-made island of Toyosu in Tokyo Bay. The former market will then be demolished and redeveloped.
