Logo of Phnom Penh Post newspaper Phnom Penh Post - Tokyo’s Olympic Village condos set to become apartments post-Games

Tokyo’s Olympic Village condos set to become apartments post-Games

Content image - Phnom Penh Post
A general view of the construction of the Olympic Village ahead of the Tokyo 2020 Olympic Games in Tokyo. BEHROUZ MEHRI/AFP

Tokyo’s Olympic Village condos set to become apartments post-Games

Applications for the post-Games ownership of condominium units used as the Olympic Village during the 2020 Tokyo Olympics and Paralympics will be accepted from late July.

The condominiums, located in Tokyo’s Harumi area, will be renovated as ordinary apartment buildings after the 2020 Games. Sales prices will range from around 50 million yen ($452,850) to more than 100 million yen per unit.

Because these units were built with the comfort of Olympic athletes in mind, they were designed with somewhat larger spaces than in a typical Tokyo apartment. The condominiums will be sold by a group of major real estate companies in phases.

The athletes’ village will be converted to a town complex, dubbed Harumi Flag, consisting of 24 buildings, including two high-rises as tall as 50 stories. They contain a total of 5,632 condominium units, including the 4,145 to be sold.

The condominiums in Harumi Flag are as large as about 84sqm per unit, excluding those in the high-rises. This is about 20 per cent larger than an ordinary condominium unit.

The units also have higher ceilings to accommodate tall athletes comfortably, passages and hallways wider than that of an ordinary condominium complex, and there are no steps throughout its spaces.

According to Real Estate Economic Institute Co, a total of 15,452 newly built condominium units were marketed in fiscal 2018 in Tokyo’s 23 wards.

The units at Harumi Flag could equal as much one-fourth of the total units on the market in the year they go on sale, prompting a real estate company official to remark: “This may affect the prices of condominium units, mainly those in coastal areas.” THE YOMIURI SHIMBUN (JAPAN)/ASIA NEWS NETWORK

MOST VIEWED

  • PM: All 10 Asean countries to receive Rainsy arrest warrants

    Prime Minister Hun Sen said on Thursday that all 10 Association of Southeast Asian Nations (Asean) member states will receive warrants for the arrest of Sam Rainsy. The warrants have already been sent to Laos and Thailand. He was speaking at a joint press conference at

  • Human rights report biased, says Cambodia

    Cambodia has accused the 42nd session of the Human Rights Council in Geneva, Switzerland on Wednesday of having “undermined the principle of objectivity”. In a statement issued on Tuesday, the Permanent Mission of the Kingdom of Cambodia to the UN said the Office of the

  • Kingdom okays 2,400MW power purchase from Laos

    A cabinet meeting on Wednesday decided that the government will purchase 2,400MW of electricity from Laos. A briefing document uploaded by government spokesman Phay Siphan to his Facebook page confirmed this. It said Cambodia will buy exclusive power from two coal-fired power plants in Laos –

  • The need to establish research universities in Cambodia

    In an era of the globalisation and internationalisation of higher education, it is difficult, if not impossible, to disregard the regional and global trend toward building world-class universities. Many governments in Asia and Africa are making significant efforts to establish research-intensive universities to catch up