If watching the Tokyo Olympics has you fantasising about buying a home in Japan, you better act fast. According to Sotheby’s International Realty, enquiries on residential property in the country in March 2021 was “nearly five times greater than those received in March 2020.”
Considering how attractive Japan is as a travel destination—it hit a record 31.88 million tourists in 2019—it’s no surprise that there are people who want to splurge on something permanent in the Land of the Rising Sun. Here’s a primer on where to invest and how to find your dream home in Japan:
The capital of Japan, Tokyo is a sprawling city and a dynamic centre of fashion, design, and food (it holds the record of having the most Michelin-starred restaurants in the world). Home to almost 14 million residents, the megacity melds past and present beautifully and has a unique tapestry of districts offering plenty of choice for the discerning investor. Last year, average property prices in Tokyo’s central wards surged by 20 per cent despite the pandemic, with many buyers looking for larger units—a trend also seen in London and New York.
Tokyo is not short of luxury condominiums and one highlight is The Kita, which was designed by Kengo Kuma, the iconic architect behind the Tokyo Olympic Stadium. Luxury hotel brand Aman also announced an Aman Residences in Tokyo opening in 2023. It will take up floors 54 to 64 of the new Toranomon-Azabudai towers, the same building that will house Janu, Aman’s new hotel brand focused on wellness.