Interesting article from Bloomberg below on the state of play in the luxury residential sector in Tokyo. The sector has seen considerable price increases over the past few years, and recent interest from offshore investors has compounded this. With the lack of supply of well-located, high-end product set to continue, prices are likely to stay on their current trajectory for some time.
The recent sale of the penthouse at The Kita, a luxury residence developed by Westbank and designed by Kengo Kuma in central Tokyo, is definitely one transaction worth noting in the market. The 500sqm duplex unit with its own rooftop pool reportedly sold for circa USD50m.