Tokyo apartment values seem to continue mostly trending upwards as seen from the results of purchases in Central Tokyo in December 2017. A few of the transactions recorded the most expensive reported resale values. Some of the apartments were sold after being listed for just 4 days, but some sat on the market up to 561 days. Here, we compare some recent sales, price per square foot, and background information on the buildings.

City Tower Azabu Juban, $1,930/sq ft

A 2-Bedroom apartment sold in this building located next-door to Park Court Azabu Juban. The Tower currently has asking prices ranging from 1,870,000 ~ 2,285,000 Yen/sqm. Despite having 502 apartments in the building there were only 6 units available for sale as at the end of December 2017, representing just 1.2% of the total.

The average sale price in 2017 was 1,905,000 Yen/sqm, up 7.9% from 2016 (1,765,000 yen/sqm) and up 2.1% from 2015 (1,865,000 Yen/sqm).

This was a penthouse apartment with roof terrace. It has been the most expensive reported resale in this building to date on a price-per-square-meter basis.

Akasaka Tower Residence, $1,860/sq ft

A 3-bedroom apartment sold in this 45-storey luxury apartment building with concierge, rooftop deck and cafe, library, lounges and guest suites. 

Despite having 521 apartments in the building, only 5 were available for sale as at the end of December 2017, representing less than 1% of the total. 3 of the 5 were rented to tenants and only suitable for investors. 

The current asking price in this building is around 2,060,000 Yen/sqm. The average resale price in 2017 was 1,915,000 Yen/sqm, up 11.3% from 2016 (1,720,000 Yen/sqm) but down 7.0% from 2015 (2,060,000 Yen/sqm).

This was a spacious apartment on a high floor. It sold for approximately 63% more than a similar apartment one floor down sold for in 2012 and has been the 3rd most expensive reported resale in this building to date on a price-per-square-meter basis.

The Roppongi Tokyo, $1,725/sq ft

A 2-bedroom apartment sold in this 39-storey high rise in the Roppongi neighbourhood with concierge, gym, guest suite and resident lounge. Current asking prices in this building range from 1,900,000 ~ 3,000,000 Yen/sqm, with an average price of around 2,340,000 Yen/sqm. 

There have been 7 reported re-sales in this building in 2017 with an average sale price of around 1,975,000 Yen/sqm, down 6.0% from 2016 (2,100,000 Yen/sqm), and down 1.7% from 2015 (2,010,000 Yen/sqm). 

This was a 2-Bedroom on a mid-floor. It sold for approximately 43% more than a similar apartment on the same floor sold for in 2013.

Wellith Tower Atago Toranomon, $1,420/sq ft

A two-bedroom apartment sold in this 22-storey apartment building located 300 meters from Tokyo Tower. When new, apartments were priced at around 1,170,000 Yen/sqm. 

There were only 2 sale listings in the building as at December 2017, one of which is tenanted.  The average asking price is around 1,835,000 Yen/sqm. 

The average sale price in 2017 was around 1,745,000 Yen/sqm, an increase of 49% since new. This apartment sold for approximately 25% more than its price when brand new.

Premist Kojimachi, $1,230/sq ft

A two-bedroom apartment sold in this 16-storey apartment building located along the street from Sophia University’s Yotsuya Campus. When off-the-plan sales began in 2014, the average price for a new apartment was around 1,400,000 Yen/sqm. 

This apartment sold for approximately 7.1% more than its price when new. 

Of the 42 units in the building, there is currently just 1 available for sale with an asking price of 1,573,000 Yen/sqm.

Sales evidence sourced via Japan Property Central originally supplied to REINS by agents.

If you would like more information about the above sales evidence or other Tokyo sales, email or phone Zoe Ward from Japan Property Central via the contact details below. 

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