The updated price comparison of condominiums and offices in Asian countries.

Poste date: Thursday, April 23, 2015

The price of condominiums and offices in Japan is looking comparatively cheap in the international market.

According to a private research organization, the price of a newly-built condominium in Tokyo as of April 1, 2015 is less than half price of the same in Hong Kong when converted into Japanese Yen. Influenced by the weakening Yen, Japan market is looking quite attractive internationally, and this is resulting to an increase in inflow of overseas investment funds to Japan.

The Japan Real Estate Institute (Minato-ku, Tokyo) announced on May 28^th that as of April 1^st, the price index of newly-built condominiums in Hong Kong are equivalent to 234.9 when Tokyo is considered 100. This outcome shows an approximate 20% increase in difference between the two cities as compared to the figure recorded 6 months ago, on October 1^st, 2014. The luxurious condominiums in Tokyo are also cheaper than those in Shanghai, Taipei, and Singapore.

The number of investments from Hong Kong and Taiwan has increased by twenty times since 2010 based on a figure disclosed by a private company. They believe it is due to the weakening yen as well as expectations influenced by the 2020 Tokyo Olympic Games.

Source : Japan Real Estate Institute　　

Office rents in Tokyo are also looking quite affordable in the international market. The price index as of April 1^st for office rent in Hong Kong and London are equivalent to 185.2 and 151.5 respectively while the same in Tokyo is 100.

Office rents in Tokyo, London, New York, and Hong Kong all declined after the Lehman shock. They have all begun to recover upwards, except for Japan, where the upturn trend of recovery is quite slow.

Exterior of Sage Akasaka

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Sage Akasaka

2 min. walk from “Akasaka” station on Chiyoda line 7 min. walk from “Tameike-sanno” station on Nanboku line 10 min. walk from “Akasaka-mitsuke” station on Marunouchi line and Ginza line 10 min. walk from “Kokkai-gijidomae” station on Chiyoda and Marunouchi line Good access to 4 stations and 4 train lines.

JPY 108,000,000

Exterior of THE KITA

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THE KITA

THE KITA, designed by Kengo Kuma, who also designed the Olympic National Stadium, or Park Court Akasaka Hinokicho Tower, and many other architectures in the world, and developed by Canadian developer, Westbank, was built in July 2020. This middle-sized condominium with 5 stories above ground and 2 basement levels, total unit number of 12, is the one and only, refined, and protect privacy for the affluent class. Located in a quiet area away from the busiest area of Harajuku commercial district, the building blends in with nature and the cityscape, and the metal louvered facade has a modern, and sophisticated, yet feeling of Japanese atmosphere. The concierge is trilingual (Japanese, English, and Chinese) and provides attentive services to international owners. Flat parking spaces and a trunk room are available for the total number of units. Up to 2 pets are allowed. (Size restrictions apply).

JPY 760,000,000

Exterior of Brillia Ariake SkyTower

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Brillia Ariake SkyTower

Brillia Ariake Sky Tower, built in December 2010, 33 story with 1 basement structure, 1,089-unit, this high-rising seismic damping condominium is located in the Ariake district where is still developing This area is blessed with parks, cultural and sports facilities, and commercial facilities, such as Ariake Tennis Forest Park, and Ariake Colosseum to the south of the property, Ariake Garden to the east, and Odaiba district to the west. In terms of disaster prevention, three government-designated disaster prevention centers are located adjacent to the condominium, and this condominium itself has a stockpile warehouse, private power generator, and hot water storage tank. There are green areas approx. 6,000sqm in this property, and a next-generation all-electric system has been installed for environmental friendliness.

JPY 59,800,000

Exterior of Green Park Harajuku

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Green Park Harajuku

Green Park Harajuku is a 5-story reinforced concrete building with 2 basement floors, built in June 1977, with a total of 8 units, located in Sendagaya 3-chome, Shibuya-ku, Tokyo. It is a 7-minute walk from Harajuku Station on the JR Yamanote Line, a 4-minute walk from Kitasando Station on the Tokyo Metro Fukutoshin Line, and an 8-minute walk from Meijijingumae Station on the Tokyo Metro Chiyoda Line, making it an attractive property with good transportation access. This low-rise vintage apartment is located in a quiet residential area while being within walking distance of the cutting edge of fashion in Harajuku and Omotesando. Seven-Eleven Harajuku Gaien Store is about 210m away, Sendaya Nakayoshien Kindergarten is about 270m away, Shibuya Ward Sendaya Elementary School is about 300m away, Meiji Jingu Shrine is about 1.2km away, and many other convenience stores and coffee shops are scattered throughout the area.

JPY 110,000,000

Exterior of LEFOND libre Hamamatsucho canal marks

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LEFOND libre Hamamatsucho canal marks

The property is conveniently located in the Hamamatsucho area, which is currently undergoing a large-scale redevelopment project as of 2023. In addition to offices and commercial facilities, the property is within walking distance of the Kyu-Shibarikyu Onshi Park and the Tokyo Metropolitan Takeshiba Futo Park, offering a rich natural living environment in the heart of the city, as well as a waterfront lifestyle with a view of the canal and Tokyo Bay. The building is conveniently located with access to 6 stations and 7 train lines, including Hamamatsucho Station on the JR Yamanote Line, Hamamatsucho, Monorail Hamamatsucho, Daimon, Tamachi, Hinode and Mita Stations. The Ginza and Roppongi areas are also within living distance at approximately 3 km. The building, built in January 2016, is a 14-story reinforced concrete building with a total of 52 units, designed with hotel-like interior corridors.

JPY 60,000,000 - 99,500,000

Exterior of Pias Nishiazabu

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Pias Nishiazabu

“Pierce Nishiazabu” was formerly sold by MORIMOTO Co.,Ltd.in November 2004. It features a building with stylish exposed concrete walls and a hotel-like indoor hallway. It is located in a quiet residential area of Nishi-Azabu 3-chome, within walking distance of Roppongi Hills and Arisugawa-no-miya Memorial Park. It is an apartment that can permit you to have a pet animal (with some restrictions by pet policies).

JPY 83,000,000

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