Azabudai Hills Tokyo – 2025 Buying Guide for International Investors

Introduction

Azabudai Hills in central Tokyo is a massive redevelopment project that opened in late 2023 as a “Modern Urban Village”. Envisioned by Mori Building, it features high-end residences, office space, an international school, and lush greenery in the heart of Minato ward. This guide explains what Azabudai Hills offers expats and foreign investors in 2025 and how to navigate Japan’s property buying process.

Key Takeaways

1. New Urban Village: Azabudai Hills is a central Tokyo mini-city (8.1 ha) with Japan’s tallest tower (330 m), 1,400 luxury residences, an international school, offices, a large green plaza, and high-end retail – all designed to meet the needs of global residents.
2. Foreigner-Friendly Investment: Foreign nationals can buy property in Japan with no legal restrictions. Azabudai Hills’ residences (including Aman branded units) are pricey (average ~¥2 billion) but offer premium design and services, making them attractive to expat executives and international investors.
3. Integrated Lifestyle & Value: Living and working within Azabudai Hills means enjoying on-site amenities like a British School, state-of-the-art wellness center, venture capital hub, and a large-scale food market – all within Azabudai Hills. The development’s unique mix of residential, business, and cultural facilities showcases Tokyo’s urban living evolution and may hold strong long-term value in the Tokyo real estate market.

Inside Azabudai Hills

Azabudai Hills is an ambitious urban Hills complex developed by Mori Building in Minato, central Tokyo. It spans approximately 8.1 hectares (about 1.7 times the area of Tokyo Dome) and includes three skyscrapers and several low-rise buildings. The centerpiece is Mori JP Tower, a 64-floor, 330 m tall tower now the tallest building in Japan. This project was completed in mid-2023 and fully opened by November 2023, instantly transforming Tokyo’s skyline and urban landscape. The concept is a “Green & Wellness” focused urban village: about one-third of the site is greened with lush gardens and a central lawn of 6,000 m², creating an oasis surrounded by modern high-rises.

Azabudai Hills offers a rich mix of uses, integrating living and working seamlessly. There are approximately 1,400 residential units across multiple towers, including the ultra-luxury Aman Residences Tokyo occupying the top floors of Mori JP Tower and two other high-rise residences (Residence A and Residence B). These residences feature world-class design and service, with amenities like gyms, private dining rooms, theater rooms, kids’ playrooms, and lounges for residents. Notably, Residence B’s 13th–18th floors (168 units) are furnished serviced apartments for short-term stays, catering to expats on work assignments or those on workation looking to rent in Tokyo’s most exclusive address. The majority of units, however, are condominium apartments for sale – making Azabudai Hills a showcase of Japan’s high-end condominium market.

Education and family amenities: Within Azabudai Hills is a brand-new campus of the British School in Tokyo, an international school occupying the lower floors of Mori JP Tower. It can accommodate about 700+ students, offering expatriate families top-tier education right on site. Having an international school and a central green space with playgrounds means the development is extremely attractive for expat families living in Japan. Additionally, Keio University’s Center for Preventive Medicine opened a state-of-the-art health facility on the 5th and 6th floors of the tower, including personalized health check programs and a members-only medical spa. This focus on wellness – from green environments to healthcare – aligns with the project’s modern lifestyle concept.

Business and innovation: Azabudai Hills is not just about luxury living; it is also positioning itself as a global business center. The office portion of Mori JP Tower (floors 1–52) hosts major corporate tenants and a unique cluster of venture capital firms. In fact, the complex launched the Tokyo Venture Capital Hub, Japan’s first large-scale VC hub bringing together around 70 domestic and international venture capital firms. This hub, along with co-working and innovation spaces (like CIC Tokyo and the ARCH incubation center nearby in Toranomon), creates an ecosystem for startups and investors. For international entrepreneurs and finance professionals, Azabudai Hills provides an opportunity to live, work, and network in the same vicinity – a compelling mix of residential units and office space for the “live-work-play” lifestyle.

At the heart of the development is a public plaza and Azabudai Hills Arena, an open-air event space under a striking undulating roof designed by Heatherwick Studio. This arena, surrounded by abundant greenery, can host cultural events, seasonal festivals, and live performances, energizing the community year-round. Adjacent to it is a 550 m² lawn and the Azabudai Hills Café, which together serve as a gathering place for residents and visitors alike. The concept “the city is a museum” truly comes alive here – the streets and plazas are filled with public art and green gardens, creating an inviting atmosphere for everyone, not just those who live there.

Cultural attractions further set Azabudai Hills apart. In February 2024, the famed Mori Building Digital Art Museum: Epson teamLab Borderless relocated from Odaiba to Azabudai Hills. This cutting-edge digital art museum (approximately 9,300 m²) lies partly in the basement of the central green and is a major draw for tourists and art lovers, featuring immersive digital art exhibitions. A dedicated Azabudai Hills Gallery space also showcases rotating art and design exhibits, underscoring Mori’s belief that a city needs culture to thrive. For residents, having a world-class museum and art installations “in your backyard” adds to the unique living experience.

Rounding out the lifestyle component is the Azabudai Hills Market, a large-scale food market and dining zone. This market brings together 30+ carefully selected vendors – from organic grocers and specialty ingredient shops to gourmet eateries – all under one roof. It’s designed to support healthy, gourmet lifestyles, providing fresh selections of ingredients and international foods for the diverse community. Residents can shop for high-quality groceries, enjoy cafe dining, or even take cooking classes, all on site. Combined with over 150 retail shops and restaurants throughout the complex, plus a luxury hotel (Janu Tokyo, operated by Aman’s sister brand, with 122 rooms) in Residence A’s lower floors, Azabudai Hills truly offers everything one might need within walking distance. The complex is also directly connected to Kamiyacho Station (Tokyo Metro Hibiya Line), making it extremely convenient for commuting around Tokyo without a car.

In summary, Azabudai Hills represents the pinnacle of modern urban development in Tokyo – a self-contained “15-minute city” where living, working, and leisure co-exist. For international buyers and investors, it’s a chance to own a part of a landmark project that combines the prestige of a Tokyo Tower Plaza address (with views of Tokyo Tower nearby) with the comfort and community feel of a green village. Next, we’ll explore how a foreign investor can approach buying a property in Japan at Azabudai Hills.

Buying Property in Azabudai Hills as a Foreigner

Purchasing a residence in Azabudai Hills follows the typical property buying process in Japan, with a few considerations for overseas investors. The supply of units is limited and demand is high, so the first step is to find a house or apartment available either from the developer or on the resale market. Many Azabudai Hills condos were initially offered to select buyers in Japan, so as an international buyer you’ll likely work with a local real estate brokerage to identify any available units (sometimes off-market). Engaging a bilingual agent who knows Tokyo’s luxury market is crucial – they can provide property search assistance, arrange viewings, and negotiate on your behalf. Japan imposes no citizenship or residency requirements for real estate ownership; foreign investors enjoy the same property rights as Japanese citizens. This means you can purchase freehold property (including the condo unit and co-ownership of land underneath) in Azabudai Hills without special permits, aside from specific national security zones which are not applicable here.

Financing and due diligence: In Japan, property transactions are typically in Japanese yen. As a foreign buyer, plan how to fund the purchase – cash transactions are common for luxury properties, but if you need a mortgage, some Japanese banks do offer home loans to foreigners. However, loan approval may require you to be a resident or have a work visa in Japan, and the process can be stringent. It’s wise to consult with financial institutions early, or consider financing through international banks if available. Conduct thorough due diligence on the unit: review the Important Matters Explanation (a legal disclosure document in Japan’s real estate sales), building management rules, and any lease of the land (in this case, Azabudai Hills residences are freehold, not land-lease, so ownership is straightforward). Hiring a bilingual lawyer or judicial scrivener (shihō-shoshi) to review contracts can ensure you understand all terms. Contracts and disclosure documents will be in Japanese by law, but your agent can translate or guide you through them.

Offer and contract: Once you identify a property (say a 2-bedroom condo on the 30th floor with Tokyo Tower views), the buying process involves submitting an offer through your agent. In Japan, it’s common to first sign a preliminary letter of intent or application to purchase, and put down a small deposit (earnest money). If the seller (which could be the developer or an individual owner) accepts, you’ll move to sign a formal sales contract. At contract signing, a deposit of around 5-10% of the purchase price is usually paid. Ensure you have a translator or bilingual professional at signing if you are not fluent in Japanese. For Azabudai Hills units, the price points are very high, so both parties will be meticulous; expect to show proof of funds. Note that negotiations on price are possible but for a brand-new highly coveted property, room for discount might be limited – some units could even sell above asking if multiple parties are interested, reflecting the hot real estate market for Tokyo’s ultra-luxury segment.

Closing and registration: Typically, it takes a few weeks to a couple of months from contract to closing (longer if arranging financing). At closing (settlement), the remaining balance of the purchase price is paid, usually via bank transfer in yen on the day of handover. A government-licensed notary or judicial scrivener will handle the transfer of the property title. The buyer will need to pay purchase taxes and fees, such as stamp duty on the contract, a registration tax, and an acquisition tax (paid a few months later). Your agent and scrivener will help handle the registration of your ownership at the Legal Affairs Bureau. Once completed, you receive the keys and can move in or lease out the unit as you wish. Congratulations – you now own a piece of Azabudai Hills, joining a community of elite owners (both Japanese and international).

Do keep in mind ongoing costs: monthly building fees (which cover maintenance of the building’s common areas, concierge, security, etc.) and a reserve fund for repairs. In a high-end complex like Azabudai Hills, monthly fees might be substantial given the extensive amenities and services (likely hundreds of thousands of yen per month for larger units). Annual property taxes will also apply, based on the government-appraised value of the unit. These carrying costs are important to factor into your investment plan.

Throughout this process, having an experienced local representative is invaluable. They can coordinate with the Mori Living sales office or listing brokers, handle paperwork while you are abroad, and even set up utilities or tenant management if you plan to rent out the property. Overall, buying property in Japan is a well-regulated process with strong legal protections for ownership. By following the steps diligently and assembling the right team, an international investor can acquire a prime residence in Azabudai Hills with confidence.

Cost Breakdown

To put the scale and investment into perspective, here are key facts and figures about Azabudai Hills and its residences:

Item	Details (Approx.)
Project Completion	November 2023 (grand opening)
Residential Units	~1,400 condos & apartments
Average Condo Price	~¥2 billion (USD ~$14 million)
Record Penthouse	¥20–28 billion (USD $140–190 million)

As seen above, Azabudai Hills residences are the most expensive in Japan’s history. The ultra-luxury Aman Residences penthouse (spanning roughly 1,500 m²) reportedly hit the market at around ¥20–¥28 billion, making it arguably Tokyo’s priciest apartment. For comparison, this is about 4.4 million yen per tsubo (3.3 m²) – an astounding price that underscores how exclusive this property is. The “average” units (excluding penthouses) were around ¥2 billion, but actual pricing varied by size, floor height, and view. Some smaller units (still generously sized by Tokyo standards, e.g. 2-bedroom ~70 m²) might have been offered in the ¥600–800 million range in early sales, whereas larger family units easily exceeded ¥1–2 billion each. Resale listings that have appeared show examples like a 2LDK (~70 m²) in mid-floor asking around ¥◻︎ (if available). It’s clear that buying in Azabudai Hills requires significant capital – this is a segment for ultra-high-net-worth buyers.

Beyond purchase price, consider the following cost aspects:

• Taxes & Fees: Acquisition tax (~3% of assessed value) is levied a few months after purchase. Annual fixed asset and city taxes total roughly 1.7% of assessed value. For a ¥2 billion condo, annual property tax could be on the order of ¥10–15 million. Registration and stamp duties at purchase might add a few million yen.
• Monthly fees: Maintenance and repair fund contributions can range widely. Hypothetically, a ¥2 billion unit (perhaps ~150 m²) might incur ¥150k–¥300k per month in building fees. The serviced apartments segment (floors 13–18 of Residence B) are rented out at around ¥650,000–¥770,000 per month for a furnished 1-bedroom ~60 m² unit, indicating the level of rent this property commands.
• Rental yields: If you invest to lease out, note that Tokyo’s luxury condo rental yields are modest (perhaps 2–3% gross) given the high purchase prices. However, the caliber of tenant (executives, embassies, expats) is very high, and contracts are typically stable. In Azabudai Hills, some owners might not prioritize yield so much as asset value and prestige. Still, with rents for 2-bedroom units likely in the ¥1–2 million/month range, an investor could see steady income in yen, which can be attractive if the yen appreciates.

Overall, Azabudai Hills represents a real estate investment in Tokyo’s most premium segment. It combines tangible value (a large, well-located property with unique features) and intangible value (prestige, future resale scarcity). The development cost was reportedly around ¥640 billion, reflecting how much Mori Building invested to create this “city within a city.” Buyers are effectively buying into that vision – which commands a significant yen price tag.

Area Comparison

To evaluate Azabudai Hills, it helps to compare it with other prominent areas or residential scenarios in Tokyo. Below we contrast it with two other Mori developments and a traditional expat neighborhood to see how it stands out:

Azabudai Hills vs. Roppongi Hills (2000s Icon vs. 2020s Icon)

Roppongi Hills, opened in 2003, was Mori Building’s groundbreaking integrated development and for years the gold standard of luxury urban living in Tokyo. It features a mix of offices, the Grand Hyatt hotel, an art museum, and high-end residences (Roppongi Hills Residence towers) that attracted many expats and affluent Japanese. How does Azabudai Hills compare?

• Scale & Design: Azabudai Hills is larger in site area (8.1 ha vs Roppongi Hills’ 6.8 ha) and centers around a lush central green plaza rather than Roppongi’s hardscaped courtyard. Azabudai’s Heatherwick Studio-designed landscaping emphasizes lush greenery and an organic layout, whereas Roppongi Hills, though it has some gardens (e.g. Mohri Garden), feels more like an urban center with towers around a plaza. Both are mixed-use, but Azabudai Hills has taken the greenery and wellness aspect further.

• Residential experience: Roppongi Hills Residences are still very high-end (with large units up to 4BR and great city views), but Azabudai Hills residences bring newer standards – larger average unit sizes, modern layouts, and more amenities (private lounges, kids’ facilities, medical center, etc.). Azabudai’s residences are also more exclusive; price per square meter is significantly higher in Azabudai Hills, partly due to brand-new construction and the Aman/Janu branding. For example, while a large unit in Roppongi Hills might trade at ¥X per m² today, Azabudai Hills units are setting new records. Both developments offer panoramic views, but Azabudai’s taller towers mean many units have unobstructed vistas that include Tokyo Tower, the bay, or Shinjuku skyline.

• Community & Culture: Roppongi Hills is known for its cultural offerings (Mori Art Museum, Toho Cinemas, lots of fine dining). Azabudai Hills matches this with the teamLab digital art museum, events in the Arena, and a focus on healthy lifestyle (e.g., the food market, wellness center). Roppongi’s Mori Museum skews towards art aficionados, whereas Azabudai’s teamLab appeals to a broader, tech-savvy crowd. The presence of an international school in Azabudai Hills also shifts the community vibe – you will see school children and families in the plaza on weekdays, which Roppongi Hills doesn’t have internally (though there are international schools in nearby neighborhoods). This makes Azabudai feel more like a self-contained neighborhood, whereas Roppongi Hills interacts more with the surrounding Roppongi nightlife and art district.

In summary, Azabudai Hills builds upon the success of Roppongi Hills but adapts it to the 2020s priorities: more green space, wellness, family-friendly facilities, and an even higher level of luxury. Roppongi Hills remains vibrant and perhaps offers more nightlife at your doorstep, while Azabudai Hills offers an insulated, campus-like environment – an appealing concept for those who want a calmer oasis in the city.

Azabudai Hills vs. Toranomon Hills (Residential Village vs. Business Hub)

Toranomon Hills, just a short distance east of Azabudai, is another Mori project that began with a landmark skyscraper (Toranomon Hills Mori Tower, opened 2014) and has expanded into a cluster of buildings including business towers, a new residential tower (Toranomon Hills Residential Tower, 2022), and even an underground station. Toranomon has been positioning itself as a new business district (“Tokyo’s global business hub”) with government initiatives and new transportation links. How does Azabudai Hills compare with its sister project?

• Function and Focus: Toranomon Hills is primarily an office and hotel complex with some residences (the new residential tower has luxury apartments, but is separate from the main Mori Tower). It’s very business-oriented – for example, it hosts multinational company headquarters and co-working spaces, and the area is known for the new CIC Tokyo startup center and ARCH incubation center. Azabudai Hills, while also having significant office space (Mori JP Tower’s lower floors), is more residentially focused within the same site. In Azabudai, an office worker can step out of the elevator and be in a green park or walk to their apartment tower directly. In Toranomon, the residential component is adjacent but not as integrated (you might walk a block from the office tower to the residential tower). Thus, Azabudai achieves a tighter mix of residential and commercial in one contiguous “village.”

• Lifestyle: Toranomon Hills has a luxury hotel (Andaz Tokyo) and high-end dining, but it lacks the everyday neighborhood feel – it doesn’t have a school or a supermarket-scale market within the complex (though there are convenience stores and some retail). Azabudai Hills incorporates daily-living facilities like the large market, school, and even a pharmacy/clinic, which means residents might rarely need to leave the complex for basic needs. Toranomon’s vibe is sleek and corporate; sidewalks can empty out on weekends. Azabudai Hills is designed to be lively even off-hours, with families in the park, events in the Arena, and tourists visiting the teamLab museum.

Connectivity: Both are in Minato Ward and actually within walking distance of each other (a 10–15 minute walk). Toranomon Hills is directly connected to Toranomon Hills Station (Hibiya Line) and near Toranomon Station (Ginza Line), making it convenient for business travel, and it’s closer to government districts (Kasumigaseki). Azabudai Hills connects directly to Kamiyachō Station (Hibiya Line) and is near Roppongi-Itchome Station (Namboku Line). Both have planned future station improvements. So transit is excellent for both, but Toranomon is slightly closer to the new Haneda Airport Access Line (planned) and some highway connections, underscoring its business hub role. Azabudai’s accessibility is still top-tier, and it arguably has more within walking distance in terms of entertainment (Roppongi area, Tokyo Tower, etc., are nearby).

In essence, if one imagines Toranomon Hills as Tokyo’s Canary Wharf (modern business district) with some residences, Azabudai Hills is more like a high-tech village where business meets daily life. For an investor, Toranomon Hills residential units might be a bit less expensive and appeal to those wanting to be in a pure business district. Azabudai Hills will attract those who want prestige and convenience in one package – and are willing to pay a premium for the “all-in-one” lifestyle that includes community and culture, not just a condo.

Azabudai Hills vs. Traditional Expat Areas (Modern High-Rise vs. Low-Rise Neighborhood)

Before projects like Roppongi Hills, many expatriates in Tokyo gravitated to low-rise, upscale residential neighborhoods such as Azabu, Hiroo, and Roppongi (residential areas). These areas (also in Minato Ward) feature foreign embassies, international schools (e.g. Nishimachi in Azabu, Sacred Heart near Hiroo), foreign supermarkets, and spacious housing (often single-family homes or low-rise apartments). How does life in ultra-modern Azabudai Hills compare to a traditional expat neighborhood experience?

• Housing type and space: In older expat enclaves like Azabu/Hiroo, you might find a standalone house with a garden or a vintage low-rise apartment with character. These properties have charm and often more indoor space (and sometimes outdoor space) for the price, albeit they are aging. Azabudai Hills offers brand-new construction, modern facilities, and breathtaking views, but you won’t get a private garden or the same quaint atmosphere – you are living in a high-rise with elevators and neighbors above/below. For those who want a house in Japan, Azabudai Hills won’t fulfill that (all units are apartments/condos in towers or mid-rise). However, Azabudai provides a unique compromise: thanks to the abundant green plazas and roof gardens, a resident can feel connected to nature without personally maintaining a yard. It is essentially vertical living surrounded by lush greenery, which is rare in Tokyo.

• Community and services: Traditional expat areas have long-standing communities – neighbors who have lived there for years, local Japanese shops and cafes, and a generally residential tranquility. Azabudai Hills, being new, fosters community through designed events and shared amenities (you might bump into neighbors at the fitness club or kids’ playroom rather than on a quiet street). Services in older areas (English-speaking doctors, import food stores like National Azabu, etc.) are distributed around the neighborhood. In Azabudai, many services are centralized and often more upscale – for example, the large-scale food market with curated ingredients might replace a weekly trip to multiple specialty stores. There’s also likely an English-speaking concierge in Azabudai Hills who can assist residents, a perk individual houses don’t have.

• Cost and availability: Renting or buying a large home in Minato’s traditional neighborhoods is extremely costly as well (land is at a premium, and many are not even on sale since owners hold them). However, the absolute prices of Azabudai Hills have set a new benchmark. For the price of a single luxury condo there, one might purchase a sizable house elsewhere – if they can find one. Foreign investors often find condominium ownership simpler than land/houses (condos are easier to maintain and can be rented out more readily). Azabudai Hills, being condominium ownership, offers that simplicity but with the feel of a mini-neighborhood built in. It’s a different product: modern design and service vs. classic and personal. Some expat families with pets and a desire for privacy might still prefer a standalone house with a yard in Hiroo. In contrast, a jet-setting professional or a diplomat might prefer Azabudai’s turn-key lifestyle – secure, convenient, and packed with amenities like a private dining room and event spaces that you can book for gatherings.

In conclusion, Azabudai Hills doesn’t replace Tokyo’s beloved traditional residential areas, but it provides an alternative that didn’t exist at this scale before: a chance to enjoy a community-oriented, international environment in a single integrated development. It “scratches the itch” for many conveniences that foreigners used to wish Tokyo housing had (like larger living spaces, English-friendly services, greenery, fitness and education all nearby). Choosing between the two scenarios largely depends on personal lifestyle preferences – cutting-edge luxury urban living versus the charm of an established neighborhood. Either way, being in Minato Ward ensures access to the city’s best international resources and a high standard of living.

Expert Tips or Common Mistakes

When considering an investment in Azabudai Hills or similar properties in Japan, keep these expert tips in mind and avoid common pitfalls:

• Tip: Engage Local Experts Early – Work with a reputable bilingual real estate agent or consultant from the start. Tokyo’s luxury market often has off-market listings and fast-moving opportunities. An expert who understands Azabudai Hills can alert you if a unit becomes available and guide you through Japan’s paperwork. They’ll also assist with things like setting up utilities or finding tenants if you plan to lease out your unit.

• Tip: Plan for All Costs – A common mistake is focusing only on the purchase price. Remember to budget for closing costs (taxes, notary fees, agent commissions) and significant ongoing costs. Luxury condos have high monthly maintenance fees and periodic repair fund contributions. Also, consider currency exchange rates – if you’ll convert USD or another currency to yen, fluctuations can impact your effective cost. It may be wise to transfer funds when the yen is weaker to get more value (e.g., many foreign buyers took advantage of a weak yen in 2022–2023).

• Tip: Understand Building Rules – Each condominium in Japan has its own management rules. As an owner in Azabudai Hills, you’ll be part of a residence association. Familiarize yourself with rules on renovations, use of facilities, pet policies, and leasing. For instance, short-term rentals (Airbnb-style) are generally prohibited in high-end Tokyo apartments, and Azabudai Hills is no exception – it’s meant for owner-occupiers or long-term tenants, not vacation rentals. A mistake would be assuming you can rent out your unit nightly; doing so could violate regulations and upset neighbors.

• Mistake to Avoid: Going Solo on Legalities – Foreign investors sometimes attempt to handle contracts or registration alone without fully grasping the language. This can lead to errors or misunderstandings in a deal. Always use a qualified judicial scrivener and interpreter for the contract signing and property registration. They will ensure your ownership is properly recorded and that you comply with all local laws (for example, notifying authorities if required under the new Foreign Exchange law for large transactions, though buying a condo usually doesn’t trigger special approval).

• Tip: Long-Term Perspective – Approach this purchase with a long-term view. Japanese real estate tends to appreciate slowly in central Tokyo and buildings depreciate structurally over decades. However, iconic projects like Azabudai Hills can defy the typical trends due to their rarity and land value. Do not expect to “flip” for a quick profit as one might in other international cities’ condo markets. Instead, view it as a stable store of value and a generational asset in Tokyo. If you hold the property for many years, you not only enjoy rental income and a prestigious address, but you may also benefit from Tokyo’s growth as a global city. Given the government’s push to keep Tokyo attractive for international finance and tech (the venture capital firms presence is one example), properties in such integrated developments could be highly sought after by the next wave of foreign executives.

By following these tips – leveraging professional help, doing thorough homework, respecting the local property norms, and being patient – you can avoid common mistakes and make a successful investment in Azabudai Hills. It’s a unique opportunity, and treating it with due diligence will ensure it becomes a rewarding part of your portfolio or lifestyle.

FAQ

Q: Can a foreigner buy property in Azabudai Hills or other parts of Tokyo?

A: Yes. Japan imposes no legal restrictions on foreign individuals or companies purchasing real estate. You have the same ownership rights as a Japanese citizen when buying a condo or house; land ownership is also allowed (Azabudai condos include a share of land ownership). This applies whether you live in Japan or overseas. The buying process is largely the same, though overseas residents often use a local proxy for paperwork. Just be prepared to navigate the transaction in Japanese (using translators and local experts) and to arrange payment in Japanese yen. Many foreign investors have successfully bought Tokyo property – including in high-end projects like Azabudai Hills – as Japan’s property market welcomes international investment.

Q: What makes Azabudai Hills special compared to other luxury properties in Tokyo?

A: Azabudai Hills stands out for its scale and concept. It’s not just a building, but a master-planned mini-city with everything from an international school and medical center to a venture capital hub and museum, all integrated with residences and green parks. The design philosophy “Modern Urban Village” means residents enjoy a pedestrian-friendly community atmosphere, which is rare in central Tokyo. Also, the project is brand new (opened 2023/2024) with state-of-the-art construction and amenities. Features like having the British School campus on-site, a 6000 m² central lawn, and residences managed by luxury hotel brands (Aman/Janu) are essentially unheard of in one package elsewhere in Tokyo. Finally, the location in central Minato ward near Roppongi and Tokyo Tower is prime. While Tokyo has other luxury towers and “Hills” projects, Azabudai Hills is often described as the crown jewel of Mori Building’s developments, representing the next level of integrated urban living. For an investor or resident, that means prestige, convenience, and likely a strong long-term appeal for both renters and future buyers.

Q: How expensive are the residences, and are there any affordable options within Azabudai Hills?

A: The residences in Azabudai Hills are firmly in the super-luxury bracket. As noted, the average unit price during initial sales was around ¥2 billion (approximately $14 million), excluding the even pricier penthouses. Units varied in size; some smaller 1- or 2-bedroom units (around 50–70 m²) may have been offered in the ¥500–¥800 million range, but those are still ¥10–¥15 million per tsubo – extremely high by Tokyo standards. The largest penthouse was priced over ¥20 billion. As for affordability, Azabudai Hills was not designed to be “affordable” housing; it targets wealthy buyers. If you’re looking for a similar integrated lifestyle at a lower budget, you might consider slightly older luxury towers or upcoming projects in other areas of Tokyo. However, within Azabudai, one option for those not buying is to rent a serviced apartment unit. The Residence B serviced apartments (furnished) can be rented starting around ¥650,000 per month for a 1-bedroom. While that is also costly, it offers a way to enjoy the Azabudai Hills experience (and amenities like gym, lounge, etc.) without the eight-figure purchase price. For investors, smaller units in the Garden Plaza (low-rise section) might occasionally come to market and could be comparatively less expensive, but they were still several million dollars. In essence, Azabudai Hills is a pinnacle of luxury – there isn’t much within it that would be considered mid-market.

Q: What kind of rental demand or tenant profile could I expect if I invest and rent out the unit?

A: The tenant profile for Azabudai Hills would be very upscale. You can expect interest from executive-level expats (CEOs, finance professionals, diplomats) and their families, as well as local high-net-worth individuals. Minato Ward has a large foreign community (~8% of the population are foreigners), and many international companies and embassies are nearby, so housing demand for luxury units is consistently strong. Corporate leases are common in this segment – a multinational might lease an Azabudai Hills apartment for an executive, paying the rent on their behalf. These tenants demand convenience and top-notch facilities, which Azabudai Hills provides (international school access, English-speaking concierge, proximity to business districts). The rental yields, as mentioned, might be around 2% given the high property value. For example, a unit you buy at ¥1 billion might rent for perhaps ¥1.5–¥2 million per month (¥18–¥24 million a year), depending on size and floor, which is ~1.8–2.4% gross yield. While that yield isn’t high, remember the goal for many investors here is capital preservation and prestige – the property’s value likely won’t see sharp declines and could appreciate as Azabudai Hills matures and gains “icon” status. Additionally, tenancy is relatively low-risk: high-end tenants tend to take good care of the property and stay for multi-year assignments if it suits their needs. Overall, the rental demand is expected to remain very robust for Azabudai Hills given its unique features and the limited supply of comparable properties in Tokyo.

Q: How does Azabudai Hills fit into Tokyo’s broader real estate market trend?

A: Azabudai Hills is a flagship example of Tokyo’s push toward redevelopment and creating mixed-use hubs to keep the city globally competitive. Over the past decade, Tokyo’s real estate market has seen rising interest from foreign investors, partly due to Japan’s stable economy, the weak yen (which made properties cheaper for USD/EUR buyers), and events like the Tokyo 2020 Olympics (which boosted development). Projects like this signal confidence in Tokyo’s future. We see a trend of “mini-city” complexes: for instance, Mori Building has other projects like Toranomon Hills and plans for more, and other developers are doing large projects in Shibuya and Shinagawa. Azabudai is among the largest and most complex of these, incorporating everything from venture hubs to museums. Its opening in 2023-2024 comes as Tokyo’s property prices are reaching record highs, especially in prime areas – yet still, on a global city comparison, Tokyo’s luxury property is cheaper than London or New York per square meter. The country’s real estate market is also very solid in terms of rule of law and property rights (which gives confidence to investors). So Azabudai Hills fits into a narrative where Tokyo is showcasing its modern urban development prowess and trying to attract both international capital and talent. In short, the development underscores that central Tokyo’s property market is moving toward ultra-modern, integrated communities. For an investor, it means there’s likely continued support (from both market demand and policy side) for such high-end projects, making them potentially rewarding holdings in the long run. Always, of course, diversify and consider macro factors, but Azabudai Hills is a bet on Tokyo’s ongoing appeal to the world.

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Updated: June 2025

Author: E-Housing Japan Editorial Team