Roppongi, Minato Ward: An Attractive Destination for Luxury Living and Real Estate Investment in Tokyo

Tokyo is a globally renowned tourist city and an attractive place for foreign residents and real estate investment. Among them, Roppongi is one of Japan's top high-end brand areas, popular among foreigners seeking sophisticated entertainment and a luxurious lifestyle, as well as successful Japanese business owners. In this article, we will introduce the appealing tourist spots, culture, and potential for real estate investment in Roppongi.

Roppongi is known as a shopping area with high-end brand shops and world-class restaurants. Giant complexes like Roppongi Hills and Tokyo Midtown offer the convenience of enjoying shopping and entertainment in one place. Roppongi is also famous as a bustling nightlife district, attracting numerous clubs and bars. It is an appealing destination for foreign tourists who seek a vibrant nightlife experience.

Furthermore, Roppongi boasts a variety of cultural facilities such as art museums and galleries. At the Mori Art Museum and the Suntory Museum of Art located within Roppongi Hills, visitors can appreciate artworks by renowned artists from around the world. Additionally, near Roppongi, there are the National Art Center and the Design Human Hotel in Tokyo Midtown. Choosing Roppongi as a base provides abundant opportunities to immerse oneself in art and culture.

Roppongi is an attractive area for gourmet enthusiasts as well. There are numerous restaurants and cafes where you can enjoy cuisine from around the world. From upscale dining establishments to seafood restaurants, Japanese cuisine, sushi, yakiniku, and cafes, Roppongi offers a diverse range of dining options. It can be considered a paradise for discerning foreign food lovers.

Roppongi is also an appealing area for real estate investment. It is home to large commercial buildings, luxury hotels, and high-end condominiums, making it a highly sought-after location with constant demand. Roppongi is popular among successful Japanese entrepreneurs, expatriates, and foreign business professionals as a residential area, and there are many properties that exude a sense of luxury. Some Roppongi condominiums offer excellent views, top-notch amenities, and high-level security, making them an attractive choice for foreign investors.

As for the reference property prices of apartments in Roppongi, it is common for 1-bedroom units with a floor area of 50-60 square meters to start from 100 million yen or more. Additionally, for larger 2 or 3-bedroom units with a floor area of 60-90 square meters, it is not uncommon to find prices exceeding 200 million yen. These apartments are equipped with luxurious interiors, state-of-the-art facilities, and shared amenities such as fitness gyms and pools. Choosing the Roppongi area to purchase an apartment in Tokyo is not an exaggeration to say that you would be acquiring a luxurious living environment.

Roppongi is also home to many commercial and office buildings. It plays an important role as a business hub, with major domestic and international companies and foreign embassies having offices there. For foreign investors, investing in commercial and office buildings with stable tenant demand is an attractive option.

Real estate investment in Roppongi holds tremendous potential. It has been several years since large-scale redevelopment projects like Roppongi Hills and Tokyo Midtown were completed, giving the impression that things have settled down. However, in reality, the redevelopment is still in progress.

First and foremost, notable attention should be given to Nomura Real Estate's redevelopment plan in Nishi-Azabu 3-chome, near Roppongi Hills. Construction is set to commence this year, and by 2027, a mixed-use complex with a height of approximately 200 meters is expected to be completed. This project is anticipated to further enhance the allure of Roppongi.

Another noteworthy project is the Toranomon-Azabudai Project, scheduled to be completed this autumn (2023). Led by Mori Building, this redevelopment project aims to create an unprecedented new city. It is expected to blend the sophistication of an international metropolis with the intimacy of a small village, and is anticipated to have an impact comparable to Roppongi Hills. As redevelopment progresses, an increase in the real estate value of Roppongi is expected.

However, the redevelopment doesn't end there. While specific plans have not been disclosed yet, the Roppongi Go-chome Project is also gaining attention. This project envisions the construction of a large-scale facility similar to Roppongi Hills, referred to as "Roppongi Hills 2." If realized, it is expected to further enhance the allure of Roppongi.

Roppongi is expected to continue its development. As a sophisticated city, it attracts people who seek the latest entertainment and trends. It is a place where tourist attractions, cultural facilities, and upscale shopping areas come together, making it an area with high potential for real estate investment. It is an area that is filled with charm for foreign investors.

When looking at the overall real estate market in Tokyo, many people may not know the exact position of Minato ward, where Roppongi, which we discussed earlier, is located. However, Minato ward, along with the other four wards known as the "Five Central Wards" including Chiyoda, Chuo, Shibuya, and Shinjuku, boasts high land prices and dominates the top ranks of the land price rankings within Tokyo. According to the "Average Prices of Residential Land in the Tokyo Metropolitan Area" published by the Ministry of Land, Infrastructure, Transport, and Tourism in 2022, the average prices of the top five wards are as follows (in yen per square meter), with Minato ward ranking second:

	Average Prices of Residential Land in the Tokyo Metropolitan Area
Chiyoda ward	2,704,300 yen
Minato ward	2,076,700 yen
Shibuya ward	1,334,900 yen
Chuo ward	1,332,200 yen
Bunkyo ward	1,011,300 yen

It is worth noting that Shinjuku ward ranks 8th following Bunkyo, Meguro, and Taito wards.
※ Shinjuku ward ranks 8th following Bunkyo, Meguro, and Taito wards.