Where do foreigners want to buy homes in Tokyo? February 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 close out February. The ranking below is based on an analysis of property listings in the Tokyo 23 Wards that people viewed and inquired about. For the January 2021 ranking, please see this post: Where do foreigners want to buy homes in Tokyo? January 2021 Edition.

#1 Shibuya

Spacious 149.12 m² 3LDK apartment for sale in the Daikanyama neighborhood of Shibuya. Listed by Mr.LAND Co., Ltd.  Please click on the photo for all current listings in Shibuya.

Shibuya consistently ranks in the top five or ten most popular places for foreigners buying a home in Tokyo. This month, this iconic shopping and entertainment hub comes in number one in the rankings.

Why Shibuya?

Shibuya is everything to everyone. Every little neighborhood around the station has its own vibe. It runs the gamut from low-cost single-room studios to luxurious seven-bedroom manors. Street food to Michelin-starred gourmet dining. Back alley smoking areas to young, fashionable vape cafes. Mass market department stores to one-of-a-kind designer boutiques. It’s every aspect of Tokyo life distilled into one location.

See current For Sale listings: Shibuya Apartments

Residential neighborhoods to the west of the station are particularly sought after by buyers who want to be near the convenience of Shibuya, without the frenetic energy right at their doorstep.

Residential areas west of Shibuya Station. Image: Google Maps screen capture

To the west of the station, Shoto and Shinsen are exclusive, upscale residential neighborhoods home to many celebrities, old money, new money, politicians, and diplomats and expats. Residential options here include large Western-style single family homes as well as low- to mid-rise apartment complexes. Further northwest of the station and just south of Yoyogi Park are Kamiyamacho and Tomigaya, also considered upscale residential areas. South of Shibuya Station is the very trendy neighborhood of Daikanyama. Daikanyama is sometimes called the Brooklyn of Tokyo because of its artsy vibe. It is very popular as a residential area, for both Japanese and foreign residents.

The Shibuya station area itself is in the midst of a transformation from an entertainment district to a business and skyscraper district.

Learn more: Shibuya Area Guide

Shibuya Scramble Square

The Shibuya Scramble Square building (a 47-story skyscraper that opened in November 2019) is the first step in a project that will change the whole look of the neighborhood surrounding Shibuya station. The project encompasses a large area, divided into four districts:

  • Shibuya Station
  • Shibuya Station South
  • Shibuya Sakuragaoka
  • Shibuya Dogenzaka

Each area is slated to have one or more skyscrapers, but the project will focus on the renewal of Shibuya station itself.

The developers’ vision for Shibuya is to make it a futuristic city, a mixture of New York’s Times Square and Silicon Valley. Central to this vision is to turn Shibuya into a business district.

See current For Sale listings: Shibuya Apartments

Learn more: Shibuya Area Guide

#2 Tsukishima

Amazing views from a 29th-floor spacious southwest corner 3LDK apartment for sale in the Century Park Tower building. This property is listed by Sumitomo Real Estate Sales Co., Ltd.. Please click on the photo for all current listings in Tsukishima.

Coming in number two this month is the Tokyo Bay neighborhood of Tsukishima, up from number two in January!

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

One of the main reasons for this is the huge amount of development which took place in the Tokyo Bay area since Tokyo was chosen to host the 2020 Olympics in 2013. The Olympic Athletes’ Village is located in the Tokyo Bay neighborhood of Harumi, on the artificial island just across the canal from Tsukishima to the south.  Apartments in the Athletes Village area also being refurbished for sale to the public, after the end of the Games.

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

#3 Omotesando

Spacious, beautifully maintained 2LDK apartment for sale in Omotesando. Built in 2013. Listed by RE/MAX Amistad. Please click on the photo to see other listings in Omotesando.

Why Omotesando?

Neighborhood Highlights

  • Omotesando is a trendy, upscale neighborhood very close to the sprawling urban center of Shibuya.
  • Well-known as a fashion capital of Tokyo, particularly for name-brand and luxury brands.
  • Omotesando Hills is a very modern shopping complex which is home to a wide variety of apparel and fashion brands.
  • Ura-Harajuku (narrow streets that exist between Harajuku and Omotesando) are hip, less traveled streets that offer a different side of urban style.
  • Plenty of cafes and restaurants in the area to choose from when meeting with friends.
  • Very attractive neighborhood for those looking for a stylish neighborhood close to English-friendly shops and services and near the headquarters of many global companies.

Learn more: Omotesando Area Guide

See current For Sale listings: Omotesando apartments

FAQs About Buying Property in Japan

Can a foreigner buy property in Japan?

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“.

Seminars on Buying Property 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.

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How do I get a property loan as a foreigner in Japan?

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

What is the process for buying a property 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

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How much is my property worth?

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: Tsukishima high-rise condominium towers via iStock