The following is a selection of apartments that were reported to have sold in central Tokyo during the month of June 2019:
Akasaka Tower Residence $1,850 /sq ft
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 June 2019. The current asking price in this building is around 2,250,000 Yen/sqm. The average resale price to date in 2019 is around 2,155,000 Yen/sqm, up 1.7% from 2018 (2,119,000 Yen/sqm) and up 12.5% from 2017 (1,915,000 Yen/sqm). This was a corner apartment on a high floor. It sold tenanted with a gross yield of around 3.3%. It sold for 45% more than it previously traded for in 2012.
Park Court Nogizaka The Tower (2019) $2,550 /sq ft
Park Court Nogizaka The Tower is a 25-storey apartment building located near Nogizaka Station and Aoyama Cemetery. This was the redevelopment of an older, low-rise apartment building dating form 1978. When new, apartments had an average price of around 2,400,000 Yen/sqm. There are currently 10 resales in the 88-unit building with an average asking price of 2,475,000 Yen/sqm. This was a spacious corner apartment on a high floor. It has been the only reported resale in this building.
Ebisu Garden Terrace Ichibankan $1,690 / sq ft
A 32-Story apartment building that forms part of the Ebisu Garden Place complex (a large mixed-use development including office, restaurants and the Westin Hotel). Despite the age of the buildings, apartments in Ebisu Garden Terrace have been trading at high prices. There are currently just 2 sale listings in the 290-unit building, with asking prices ranging from 1,805,000 ~ 2,055,000 Yen/sqm. The average resale price to date in 2019 is around 1,840,000 Yen/sqm. Back in 2013 the average sale price was around 1,130,000 Yen/sqm. This was a corner apartment on a low floor. It sold for 51% more than a similar-sized apartment on the same floor sold for in 2012.
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.
Similar to this:
Central Tokyo apartment sales in May 2019
Central Tokyo apartment sales for December
Central Tokyo apartment sales November
