The following is a selection of apartments that were reported to have sold in central Tokyo during the month of May 2019:
Akasaka Tower Residence $2,075 /sqm
A 45-storey luxury apartment building with concierge, rooftop deck and cafe, library, lounges and guest suites. Despite having 521 apartments in the building, only 12 were available for sale as at the end of May 2019. 8 of those 12 units are leased to tenants and suitable for investors only. The current asking price in this building is around 2,260,000 Yen/sqm. The average resale price to date in 2019 is around 2,190,000 Yen/sqm, up 3.4% from 2018 (2,119,000 Yen/sqm) and up 14.4% from 2017 (1,915,000 Yen/sqm). This was a corner apartment on a mid-floor. It sold for 77% more than an identical apartment a few floors down sold for in late 2008 and has been the second highest reported resale in this building on a price-per-square-meter basis to date.
City Tower Azabujuban $1,780 /sqm
City Tower Azabujuban is located next-door to Park Court Azabu Juban The Tower. Current asking prices in this building range from 1,775,000 ~ 3,160,000 Yen/sqm, with an average of around 2,111,000 Yen/sqm. There have been 9 reported resales in this building in the first 5 months of 2019, up from 7 sales for all of 2018. The average sale price to date in 2019 is around 1,944,000 Yen/sqm, down 1.6% from 2018 (1,975,000 Yen/sqm) but up 2.0% from 2017 (1,905,000 Yen/sqm). This apartment sold for 45% more than an identical apartment a few floors down sold for in 2014.
Bancho Parkhouse $1,665 /sqm
Bancho Parkhouse is a 17-storey apartment building located in the wealthy Bancho residential neighborhood on the western side of the Imperial Palace. There are currently no sale listings available. The average sale price to date in 2019 is around 1,863,000 Yen/sqm, up 14.3% from 2018 (1,630,000 Yen/sqm). This was a large apartment on a high floor. It has been the most expensive reported resale in this building on a price-per-square-meter-basis to date.
Minami Aoyama Terrace Tokiwamatsu Forest $1,260 /sqm
A large-scale complex of 196 apartments located a 10 minute walk from Omotesando Station. There was just 1 apartment listed for sale as at May 2019 with an asking price of 1,731,000 Yen/sqm. The average sale price in 2018 was 1,730,000 Yen/sqm, up 9.1% from 2017 (1,585,000 Yen/sqm) and up 21% from 2016 (1,430,000 Yen/sqm). This unit was on a low floor. It has been the only reported sale in 2019.
Sales evidence sourced via Japan Property Central originally supplied to REINS by agents.
If you would like more information about the above data including the disclaimer, more sales evidence or other Tokyo sales, email or phone Zoe Ward from Japan Property Central via the contact details below.
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