TOKYO APARTMENT SALES IN MARCH 2022
Posted on April 8, 2022
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2022:
BUILDING SOLD PRICE
(YEN/SQM) (USD/SQ.FT) DAYS LISTED DISCOUNT
Park Court Aoyama The Tower (2017)
3-Bedroom ¥3,550,000
/sqm $2,660
/sq ft 120 1.0%
Park Court Aoyama The Tower is a luxury condo with an iconic curved exterior. Off-the-plan sales began in late 2016, with the building selling out just upon completion in December 2017. The average price when brand new was around 2,800,000 Yen/sqm. There were just 4 sale listings in the 163-unit building as of March 2022 with an average price of 3,865,000 Yen/sqm. This apartment was on a low floor. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date. The average sale price so far in 2022 is around 3,445,000 Yen/sqm, up 18.8% from 2021 and up 34.3% from 2020.
Park Court Roppongi Hilltop (2012)
1-Bedroom ¥3,246,000
/sqm $2,430
/sq ft 19 2.96%
Park Court Roppongi Hilltop is a 27-story, 270-unit high-rise located near Roppongi Itchome Station and Izumi Garden Tower. When new back in 2012, the average sale price was around 1,400,000 Yen/sqm. There are currently 3 sale listings in this building with an average price of 3,312,000 Yen/sqm. This was a compact apartment on a low floor. It sold for 18% more than it was previously listed for in 2021 and 37% more than it was listed for in 2019.
Akasaka Tower Residence Top of the Hill (2008)
1-Bedroom ¥3,050,000
/sqm $2,280
/sq ft 133 1.78%
Akasaka Tower Residence Top of the Hill is a 45-story luxury apartment building with concierge, rooftop deck and cafe, library, lounges and guest suites. Despite having 521 apartments in the building, only 3 were available for sale as of the end of March 2022. The current asking price in this building is around 3,240,000 Yen/sqm. The average sale price so far in 2022 is around 2,800,000 Yen/sqm, up 24.4% from 2021 (2,250,000 Yen/sqm). This was a corner apartment on a high floor. It sold for 90% more than an identical apartment a few floors up sold for in late 2008.
Proud Motoazabu (2010)
3-Bedroom ¥2,997,000
/sqm $2,245
/sq ft 16 4.88%
Proud Motoazabu is a 32-unit, 6-story luxury condo located atop the Motoazabu district in central Tokyo. When new, apartments ranged in price from 195 ~ 700 million Yen, with an average price of around 1,825,000 Yen/sqm. There is currently just 1 sale listing in the building with an asking price of around 3,183,000 Yen/sqm. This apartment was on a mid floor. It sold for 63% more than it was previously reported to have sold for in 2013.
The Court Jingu-Gaien (2020)
2-Bedroom ¥2,958,000
/sqm $2,215
/sq ft 11 0%
The Court Jingu-Gaien is a condominium located just south of the Olympic Stadium. It contains a mixture of 409 condo-style and landholder apartments over 23 floors. When new, apartments were priced from 2,200,000 ~ 4,300,000 Yen/sqm. There are currently just 5 apartments listed for resale as of March 2022 with an average asking price of 2,875,000 Yen/sqm. The average resale price to date in 2022 is around 2,935,000 Yen/sqm, up 15% from 2021 (2,550,000 Yen/sqm) and up 35% from 2020 (2,170,000 Yen/sqm).
Park House Nishiazabu (2000)
3-Bedroom ¥2,709,000
/sqm $2,030
/sq ft 1 0%
Park House Nishiazabu is a 7-story apartment building located a short walk from Roppongi Hills. The 51-unit building had an average price of around 1,450,000 Yen/sqm when it was brand new in 2000. This has been the most expensive reported sale in this building on a price-per-square-meter basis to date, exceeding a previous price record set in 2019.
Toranomon Towers Residence (2006)
2-Bedroom ¥2,413,000
/sqm $1,810
/sq ft 41 0.47%
Toranomon Towers Residence is a 41-story high-rise apartment building with 267 apartments. There are currently just 2 sale listings with an average price of 2,400,000 Yen/sqm. This was a renovated apartment on a low floor. It has been the most expensive reported resale in this building on a price-per-square-meter basis to date. It sold for 25% more than an identical apartment on a high floor sold for in early 2019 and 102% more than an identical apartment on a high floor sold for in 2012.
