The following is a selection of apartments that were reported to have sold in central Tokyo during the month of January 2019:
Sold Price (Yen/sqm)
Park Court Akasaka Hinokicho The Tower (2018) 3-Bedroom
$2,785 /sq ft
A luxury high-rise apartment building adjoining Tokyo Midtown. When off-the-plan apartment sales began in late 2015, there were an average of 1.9 buyers per apartment. The building was designed by Kengo Kuma and features concierge, gym, roof deck, and various resident lounges and function rooms. This was a corner unit on a mid-floor. There are currently 10 sale listings in the 322-unit building, down from 13 listings as of October 2018. The average asking price is 3,345,000 Yen/sqm, while the average apartment size is just 59 sqm. The average resale price in 2018 was 3,354,000 Yen/sqm.
Ark Hills Sengokuyama Residence (2012) 1-Bedroom
$1,970 /sq ft
Ark Hills Sengokuyama is a 47-storey mixed-use development by Mori Building. The high-end residences are located on the lower half of the building and include concierge service and the Hills spa. Despite having 243 apartments, including Mori’s rental-only units, only 4 apartments are currently available for sale in this building, with an average asking price of 2,745,000 Yen/sqm. Three of these four apartments are rented to tenants with gross yields of 2.5 ~ 3.2%.Supply is extremely limited in this building with just 11 resale listings appearing on the market over the past 6 years. This apartment is only the third publicly reported sale in this building (other sales may go un-reported). It was a tenanted unit that sold to an investor. When sales began in 2012 (a time when Japan’s property market was at the bottom), 1-Bedroom units were priced from 1,685,000 Yen/sqm, which …continue reading