Tokyo Apartment Sales in March 2020

The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2020:

Building Sold Price
(Yen/sqm)
(USD/sq.ft) Days Listed Discount
 
Toranomon Hills Residence (2014)
2-Bedroom
¥3,819,000
/sqm
$3,310
/sq ft
466 2.3%

Toranomon Hills is the current crown jewel for Mori Building’s mixed-use office/hotel/residential projects. The residences on floors 36~46 are without a doubt the some of the most luxurious apartments currently available in Japan. The current average asking price in this building is around 4,300,000 Yen/sqm. This has been the third most expensive reported resale in this building on a price-per-square-meter basis to date. It sold for approximately 13% more per square meter than a similarly-sized apartment sold for in late 2016.

 
The Residence Roppongi (2019)
2-Bedroom
¥2,593,000
/sqm
$2,245
/sq ft
9 8.3%

The Residence Roppongi is a 23-story, 73-unit apartment building developed by Mori Trust and completed in late 2019. When new, apartments had an average price of around 2,800,000 Yen/sqm. There are currently 3 resales listed for around 2,600,000 Yen/sqm. This was a corner unit on a low floor. It has been the first publicly reported resale in this building.

 
City Tower Azabujuban (2009)
3-Bedroom
¥2,242,000
/sqm
$1,945
/sq ft
87 2.1%

City Tower Azabujuban is located next-door to Park Court Azabu Juban The Tower. Current asking prices in this building range from 1,845,000 ~ 3,145,000 Yen/sqm, with an average of around 2,215,000 Yen/sqm. There are 15 sale listings in the 501-unit building. The average sale price to date in 2020 is around 2,020,000 Yen/sqm, up 3.6% from 2019 (1,950,000 Yen/sqm) and up 2.3% from 2018 (1,975,000 Yen/sqm). This apartment was on a high floor with views toward Tokyo Tower. It sold for 21% more than it previously traded for in 2015, and has been the second most expensive reported resale in this building on a price-per-square-meter basis to date.

 
Park Court Geo Nagatacho (2008)
2-Bedroom
¥2,081,000
/sqm
$1,800
/sq ft
9 2.7%

Park Court Geo Nagatacho is a 14-storey apartment building located in Japan’s political center and a 2 minute walk from Nagatacho Station. This was a spacious corner 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.

 
Wellith Tower Atago Toranomon (2014)
3-Bedroom
¥1,900,000
/sqm
$1,645
/sq ft
85 3.3%

Wellith Tower Atago Toranomon is a 22-story apartment building located 300 meters from Tokyo Tower. When new, apartments were priced at around 1,170,000 Yen/sqm. There were 5 sale listings in the 110-unit as of March 2020, with an average asking price of around 1,985,000 Yen/sqm. This has been the only publicly reported resale in this building over the past 6 months. It sold for approximately 6.5% less than an identical apartment a few floors up sold for in late 2017, but 23% more than its price when brand new.

 
Saion Sakurazaka (2009)
3-Bedroom
¥1,890,000
/sqm
$1,640
/sq ft
48 12.9%

Saion Sakurazaka is a 26-story high-rise located near the US Embassy in the Akasaka/Toranomon district. There is currently just 1 sale listing in the 87-unit building with an asking price of 1,739,000 Yen/sqm. This was a large corner unit on a mid floor. It sold for approximately 4.3% less than an identical apartment a few floors up sold for in 2018.

 
The Jingumae Residence (2013)
3-Bedroom
¥1,886,000
/sqm
$1,635
/sq ft
139 2.9%

The Jingumae Residence is a high-rise located a 9 minute walk from Omotesando Station and 650 meters from the Olympic Stadium site. There were just 5 sale listings in the 220-unit building as at the end of March 2020, with an average asking price of 1,890,000 Yen/sqm. This was a corner apartment on a high floor. It sold for 1.2% less than an identical apartment several floors down sold for in mid-2019.

 
Wellith Roppongi (2014)
1-Bedroom
¥1,484,000
/sqm
$1,285
/sq ft
44 0.5%

Wellith Roppongi is a 17-story building located just around the corner from Roppongi’s main bar/club street and a 10 minute walk to Roppongi Hills. When apartments were sold by the developer in 2013 ~ 2014, the average price was around 1,240,000 Yen/sqm. The average current asking price is around 1,470,000 Yen/sqm. The average resale price in 2019 was 1,495,000 Yen/sqm, showing no change from 2018. This was a tenanted apartment on a mid-floor. It sold for 3.3% more than an identical apartment downstairs sold for in mid-2019. The gross rental yield was around 4.6%.

 
The Parkhouse Nishiazabu Residence (2014)
Studio
¥1,476,000
/sqm
$1,280
/sq ft
92 1.4%

The Parkhouse Nishiazabu Residence is a 24-story high-rise located a 6 min walk from Hiroo Station and 12 min walk from Roppongi Station. When new, apartments had an average price of around 1,300,000 Yen/sqm. There are currently 16 sale listings with an average asking price of around 1,595,000 Yen/sqm. The average sale price to date in 2020 is around 1,535,000 Yen/sqm, down 15.9% from 2019 (1,825,000 Yen/sqm) and down 11.3% from 2017 (1,730,000 Yen/sqm). This was a compact apartment on a low floor. It sold for 9% more than an identical apartment a few floors up sold for in 2015.

 
Homat Concord (1977)
3-Bedroom
¥1,400,000
/sqm
$1,215
/sq ft
183 0.4%

Homat Concord is a vintage, low-rise apartment building located in Roppongi. There is currently 1 other sale listing in the building with an asking price of 1,865,000 Yen/sqm (currently under offer). This apartment sold for approximately 77% more on a price-per-square-meter basis than another apartment on the same floor sold for in 2014, and sold for about 17% less than its original list price in 2019.

Ichibancho Park Mansion (1973)
3-Bedroom
¥1,168,000
/sqm
$1,010
/sq ft
607 25.2%

Ichibancho Park Mansion is a vintage apartment building located across the street from the Imperial Palace moat. This was considered luxury living for its time. When new in the early 1970s, apartments were priced from around 18 ~ 70 million Yen. After almost two years on the market this apartment ended up selling for 32% less than its original list price in 2018.

Shinanomachi Heim (1978)
2-Bedroom
¥832,000
/sqm
$720
/sq ft
71 9.6%

Shinanomachi Heim is a vintage apartment building located north of the Akasaka Palace.   The average sale price in 2019 was 625,000 Yen/sqm, down 13.4% from 2018 (724,000 Yen/sqm) and down 9.2% from 2018 (688,000 Yen/sqm). In the early 1990s, apartments were selling for a high of around 1,000,000 ~ 1,100,000 Yen/sqm. This was a compact apartment with a large rooftop terrace. It has been the most expensive reported resale in this building on a price-per-square-meter basis in 25 years.

Stork Mansion Yoyogi (1983)
2-Bedroom
¥810,000
/sqm
$700
/sq ft
70 22.0%

Stork Mansion Yoyogi is a low-rise apartment building west of Yoyogi Park. This was a top-floor apartment with roof terrace. It has been the second most expensive reported resale in this building on a price-per-square-meter basis to date.

 

About the data:

  • The data is based on information supplied to REINS by agents.
  • This information is voluntarily provided, and not all transactions are recorded.
  • Japan Property Central cannot guarantee the accuracy of the information provided.
  • The discount, for example, is based on the last advertised listing price at the time of sale, rather than the original list price.
  • Some listings are constantly updated, so the days listed between listing on REINS and final sale may not be accurate. The days listed are also based on the day that the agent registered the property as being sold, which is sometimes done on the day of the contract signing, settlement or even later if the agent forgets to update the listing.
  • Not every sale is reported above.
  • Price per square meter or per square foot is calculated based on apartment’s internal floor area and does not include balconies, car parks or common areas.
  • Exchange rate is at the time of publishing the article and is subject to change (1 USD: 107.26 Yen).

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