In this post, we present the Top 3 most popular stations for people searching for properties for sale on realestate.co.jp as we head to the end of January. The ranking below is based on an analysis of property listings in the Tokyo 23 Wards that people viewed and inquired about. For the December 2020 ranking, please see this post: Where do foreigners want to buy homes in Tokyo? December 2020 Edition
The top two neighborhoods stand in stark contrast to number three but the Top 3 rankings are very representative of what is actually going on the market: buyers continue to be interested in central Tokyo locations, but are also looking for areas that offer high livability and good residential amenities. Please see details below!
A decade ago, Kachidoki would not have made almost any 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.
This month Kachidoki comes in number one in Real Estate Japan’s For Sale Property rankings. This continues the 2020 trend, in which Kachidoki frequently made the Top 5 monthly rankings.
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.
As of this writing, Olympic organizers and the government of Japan are determined to forge ahead with the Games this July, but regardless of what will happen, the amount of buyer interest in the Tokyo Bay area looks to remain strong in the years ahead.
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
Coming in at number two this month is Kachidoki’s neighbor and just one stop away on the Toei Oedo line: Tsukishima!
Tsukishima’s attractions, from the perspective of a residential buyer, are similar to that of Kachidoki, except that there are fewer new high-rise developments immediately surrounding the station.
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)
- River City 21 East Towers 2 (2000)
The area immediately surrounding the station 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
Rounding out the Top 3 in this month’s For Sale Neighborhood ranking is Gakugei Daigaku, a station and neighborhood in Tokyo’s Meguro Ward.
Gakugei Daigaku may not be as well known as other neighborhoods on the Tokyu Toyoko line but it offers many of the same attractions in terms of quiet residential living. The area is named after the university that used to be located there.
It also enjoys an excellent location, being just four stops from Shibuya on on the Tokyu Toyoko line (Yutenji, Naka Meguro, and Daikanyama being the three stations in between).
Gakugei Daigaku is considered a highly desirable residential neighborhood that is not as well known as its neighbors (especially Daikanyama and Naka Meguro). Here you will find low-rise apartment buildings and single-family homes, as well as many great restaurants near the station. In recent years, it has gained a reputation for its unpretentious but serious food scene.
See current listings: Gakugei Daigaku Apartments
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