Tokyo Bay area redevelopment high-rise condos to go on sale from June

Units in two high-rise condominiums being built in the area used for the athletes' village of the Tokyo Olympics and Paralympics in 2021 will go on sale from June.

The area, near Tokyo Bay, is being redeveloped as a residential and commercial town called "Harumi Flag." A total of more than 5,600 units in 23 condos will be marketed for sale or rent.

On Tuesday, developers revealed the outline of the two high-rises, which they call the symbol of the new town.

The 50-story condos with 1,455 units are expected to be finished by the fall of 2025.

Unit prices will be announced in April, and applications for the first batch will be accepted from late June.

Real estate firm Mitsui Fudosan says units for sale in other condos in the town are attracting a lot of applications. The latest average application multiple is 30.2 times, with the highest at 191 times.

A senior official at Mitsui Fudosan Residential, which is selling the units, says that the two high-rise condos are designed to be a landmark for the Tokyo Bay area, and that residents will be able to enjoy great views.