Where do foreigners want to buy homes in Tokyo? March 2021 Edition

In this post, we cover the Top 3 most popular stations for people searching for properties for sale on realestate.co.jp as we head to the end of March. The ranking below is based on an analysis of property listings in the Tokyo 23 Wards that people viewed and inquired about. For the February 2021 ranking, please see this post: Where do foreigners want to buy homes in Tokyo? February 2021 Edition.

Our featured for sale property in Kachidoki this month is a spectacular 37-th floor, 3LDK (3-bedroom) apartment for sale in the 52-story DE TOUR EAST DEUX TOURS. List price is ¥95 million ($870,000). This property is listed by Minami Aoyama Real Estate Co. Ltd. Please click on the photo for all current listings in Tsukishima. Photo: Minami Aoyama Real Estate Co., Ltd.

Back at number one this month is Kachidoki, one of the most quintessential Tokyo Bay neighborhoods. Kachidoki also came in first in January 2021 and was in the monthly Top 5 lists consistently through 2020.

Why Kachidoki?

A decade ago, Kachidoki did not usually make the top ten list of desirable Tokyo residential neighborhoods, but in the last five years, this Tokyo Bay enclave, built on landfill, has risen to the top of many homebuyer and investor rankings and surveys. In the last few years, the Tokyo Bay area, in general, has been one of the most sought after addresses for people looking to buy a unit in a newer condominium tower building.

Kachidoki neighborhood of Tokyo Bay. Image: Google Maps screen capture

One of the main reasons for this is the tremendous amount of development that has taken place in the Tokyo Bay area since Tokyo was chosen to host the 2020 Olympics. The Olympic Athletes’ Village is located in the Tokyo Bay neighborhood of Harumi, not far from Kachidoki.  Apartments in the Athletes Village area also being refurbished for sale to the public, after the end of the Games.

The government has invested heavily in building out the transportation network connecting Tokyo Bay neighborhoods, such as Kachidoki, and adjoining mainland wards. This will make it much faster and easier for workers to commute to downtown offices (for those who will not be working from home).

Many of the new condominium developments in the Tokyo Bay are also high-end all-inclusive buildings (such as The Tokyo Towers building pictured above), which make them very attractive to couples and families. Amenities in these developments tend to focus on health, safety, and green space, as well as having everything on-site or within walking distance: including parks, childcare facilities, supermarkets, gyms and medical clinics. This is not to mention the spectacular city and bay views available to residents of higher floors.

Buildable land in Tokyo downtown areas, such as Minato Ward, remains extremely limited, so some condominium developers have had to move to suburban areas in western Tokyo. However, the new condominium market outlook for 2021 suggests that supply and demand will continue to be concentrated in central Tokyo districts and the Tokyo Bay area and that “tower mansions” will continue to be popular.

Many of the main high-rise developments in the Tokyo Bay are in the Kachidoki and Harumi neighborhoods (Source: JapanPropertyCentral):

  • Kachidoki The Tower (2016): 1,420 apartments (Kachidoki)
  • The Tokyo Towers (2008): 2,794 apartments (Kachidoki)
  • Kachidoki 4 Chome Redevelopment (2027): 3,120 apartments (Kachidoki)
  • Athlete’s Village (2020 ~ 2024): 5,500+ apartments (Harumi)
  • Deux Tours Canal & Spa (2015): 1,450 apartments (Harumi)
  • The Parkhouse Harumi Towers (2013~2016): 1,744 apartments (Harumi)
  • Park Tower Harumi (2019): 1,076 apartments (Harumi)

Learn more: Kachidoki Area Guide

See current For Sale listings: Kachidoki apartments

What’s currently on the market in Tsukishima? Here’s a good example: a beautiful 21st floor, 2LDK apartment is being offered for sale in 49-story The Parkhouse Harumi Tiaro Residence. List price is ¥82 million ($752,000). This property is listed by PLAZA HOMES. Please click on the photo for all current listings in Tsukishima. Photo: PLAZA HOMES

Coming in number two this month is the Tokyo Bay neighborhood of Tsukishima, holding onto its number two ranking in February! Tsukishima is just a stone’s throw away from Kachidoki (above). These rankings highlight just how much Tokyo Bay neighborhoods are currently in demand.

The Tokyo Bay area consistently ranked in the top five throughout 2020 on Real Estate Japan and for the market as a whole.

Tsukishima Station offers great connections to central downtown connections, via the Tokyo Metro Yurakucho Line and the Toei Oedo Line.

  • From Tsukishima Station on the Yurakucho line, it is 10-min direct to Tokyo Station and just two stops to Ginza Itchome and three stops to Yurakucho Station, which gives you access to the JR Yamanote and Keihin-Tohoku lines, as well as three other subway lines (Hibiya, Chiyoda, and Mita)
  • From Tsukishima Station on the Toei Oedo line, commuters also have quick direct access to down Tokyo locations. For example, Azabu Juban, Roppongi, Aoyama Itchome, Yoyogi, and Shinjuku are all on the Oedo line. It is about a 24-min direct ride to Shinjuku from Tsukishima.

On the northern tip of the island around Ishikawajima Park, there are a handful of high-rise tower condominiums, many of which were built in the 1990s and early 2000s. These are all-inclusive developments with hotel-like amenities, walking paths, and sweeping views of Tokyo from the higher-level units. Medical clinics, gyms, and supermarkets are all either nearby or on-site. These high-rise towers are located about a 6 to 8-minute walk to Tsukishima Station. They include:

  • River City 21 Century Park Tower (Built in 1989)
  • City Front Tower (1991)
  • Sky Light Tower (1993)
  • Century Park Tower (1999)
  • River City 21 East Towers 2 (2000)

See current listings: Tsukishima Apartments

The Tokyo Bay neighborhoods of Tsukishima and Kachidoki. Image: Google Maps screen capture

The area has a more traditional feel, even though there are all of the urban conveniences you would expect from being located in the 23 Wards: convenience stores, supermarkets and small restaurants are abundant, as well as public schools and two parks at the tip of the island, built on top of the levees built to hold back the Sumida River: Tsukuda Park and Ishikawajima Park.

Culturally, one of the neighborhood’s main claims to fame is being home to Tsukijima Monja Street, where there is a concentration of shops serving up  monjyayaki (or monja), a pan-fried batter dish cooked with dashi stock and savory ingredients like vegetables and seafood.

See current listings: Tsukishima Apartments

This month’s featured apartment for sale in Shirokane Takanawa is a sunny, spacious 2LDK (2-bedroom) apartment, located 13-min walk from Shirokane Takanawa station and 9-min from Hiroo Station. Very ex-pat friendly neighborhood full of city-center conveniences. This property is listed by ReMax Amistad. Please click on the photo to see all current listings in Shirokane Takanawa. 

Even though there are many upscale neighborhoods in Minato Ward, including Minami AzabuHiroo, and Roppongi, the neighborhood of Shirokane stands out above the rest for its unique charm of incorporating green space with luxurious residential living. There is a serious old money side to Shirokane mixed with influence from the worlds of entertainment and politics. Still, the living here is upscale and subdued, with many designer boutiques and trendy cafes along Meguro-dori and tree-lined Platinum-dori.

Learn more: Shirokane Area Guide

See current For Sale listings: Shirokane apartments

Yes. You can buy property in Japan regardless of your nationality or country of origin. There are also no residency requirements for buying real estate in Japan. Securing financing as a resident foreigner is more complicated. For info on financing, please see “Basic Requirements for Getting a Mortgage as a Foreigner in Japan“.

Please see our seminar page for a current list of seminars on: how to buy a home in Japaninvesting in Japanese real estate for beginnershow to apply for permanent residency in Japanhow to sell property in Japan, and much more.

Please see this article for information on: Getting a property loan as a foreigner in Japan

Please see our step-by-step guide: Guide to Buying Property in Japan

See how much you can borrow and your monthly payments in yen: Yen Mortgage Loan Calculator

For information about purchase and brokerage fees: Breakdown of real estate purchase fees and taxes in Japan

Need to know: Earthquake building codes and technology in Japan

Real Estate Japan is pleased to offer free, no obligation appraisals for owners of property in Japan. Please click here and fill out the form: How much is my property worth?

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Lead photo: Tokyo waterfront towers Sumida River bridges aerial bay cityscape Japan via iStock 57586187

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