A final draw has been held to select buyers for a condominium complex converted from the Tokyo Olympics athletes’ village. It is the last step in a sale process that has been marred by controversy and has left many prospective residents unable to buy units.
Monday’s lottery was for apartments in two high-rise buildings in the Harumi Flag complex to be completed next year. The operator says about 13,100 people applied for the 356 units.
The project is being overseen by the Tokyo Metropolitan Government. It began selling units at the complex in 2019, before the Olympics had taken place.
The project was originally intended to provide families with affordable housing amid a surge in condo prices in the Tokyo area. But many units were bought up by companies that listed them for rent or resale, pushing out actual buyers.
Sellers tried to prevent this in the final draw by banning companies from entering multiple times through representatives. They also limited purchases to two units per applicant.
The apartments are scheduled to be handed over to owners in October of next year.