British property company, Grosvenor Group, announced that their first luxury residential development in Japan – Grosvenor Place Kamizono-Cho in Yoyogi Park – has reached 100% occupancy in July, 2011.
Nippon Steel City Produce and Mitsui are redeveloping the Harajuku Danchi apartments alongside Gaien Nishidori in Shibuya-ku’s Jingumae 3 Chome neighborhood.
The original 6 buildings were completed in 1957. The buildings were considered modern for their time and were a landmark for the area. Due to aging and deterioration, reconstruction plans were made and the apartments were vacated in 2010.
*Update: All 11 units that were initially offered for sale in May, 2010, sold within 9 days. As of late September, 2010, there are 4 unsold units remaining.
Located across the street from the Australian Embassy and the .
Hyugazaka is the name given to the slope between Mita 1 and 2 Chome.?In historical times, the Mita area was the location of Daimyo’s mansions (feudal rulers).
A new luxury apartment building is under construction in Roppongi, Tokyo.
The Roppongi Tokyo Club Residence has all the features of a hotel, such as concierge service, room service, catering, masseur, valet parking, porter and more. Just 5 minutes walk to Roppongi Hills and Tokyo Midtown.
The first stage of sales will begin on July 17th, 2010, with 92 units available for purchase. Over 600 people visited the showroom, with most interested buyers having a budget of around 150,000,000 JPY. Given the prime central Tokyo location, and its celebrity appeal, the developers are expecting the units to be sold out on the same day. In fact, all of the penthouse units received purchase applications in the first week of sales.
49,800,000 Yen 43,000,000 Yen
41.32 sqm (445 sqft) Studio Apartment
*No longer on the market*
A modern studio apartment in the center of Harajuku is currently for sale. The apartment layout creates the feeling of a 1-bedroom apartment. The apartment overlooks the greenery of Togo Shrine. There is a cafe on the 1st floor of the building, and hundreds more cafes in the surrouding Harajuku/Omotesando neighborhood.
Second-hand apartment prices are slowly recovering. As they are comparatively cheaper than brand new apartments, demand is returning and the viewpoint that this is no longer the bottom of the market is emerging.
Nagoya’s 7 cities see the highest increase of 2.7%
Real estate information provider, Tokyo Kantei, reported that the average price of a 70sqm apartment in Tokyo’s 23 Wards reached 42.97 million Yen in March, 2010. This is 9% higher than the bottom average price that was recorded in June, 2009.
From Autumn of 2009, Tokyo, Yokohama and Saitama have been showing signs of transitioning into a bullish market. Nagoya’s 7 cities had the largest rate of growth of 2.7% compared to the previous month, with Osaka and Kobe seeing almost no change.