Is Azabudai Hills Japan’s Most Expensive Condominium at Up to 30 Billion Yen?

The second tallest building is seen in the foreground, and Azabudai Hills Mori JP Tower is in the center.

Azabudai Hills is Japan’s tallest building and has garnered considerable attention for being home to the country’s most expensive condominiums, among other highlights.

About Azabudai Hills? The Tallest Building in Japan with Luxury Residences

The much-anticipated “Azabudai Hills” is scheduled to open on November 24, 2023. Mori Building, kn […]

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Azabudai Hills is poised to become Japan’s most expensive residential property, whether for ownership or rent. In this article, we’ll delve into the distinctive features and prices of these luxurious apartments.

Overview of Azabudai Hills Residences

Azabudai Hills is scheduled to open on November 24, 2023.

The planning and development of Azabudai Hills are by Mori Building, a well-known Japanese real estate developer responsible for projects like Roppongi Hills and Toranomon Hills. Internationally, they’ve also managed buildings such as the Shanghai World Financial Center, completed in 2008.

Azabudai Hills is a massive project that has taken 35 years to develop, with a total cost of 580 billion yen.

Azabudai Hills consists of four main areas, each housing residential units. Mori Building has put a strong emphasis on creating a residential community.

Azabudai Hills comprises four main buildings, each housing a residence. Among them, the Mori Building shines with its unwavering commitment to the concept of living.

Here are the four residential buildings within Azabudai Hills:

• Aman Residences Tokyo
• Azabudai Hills Residence A
• Azabudai Hills Residence B
• Garden Plaza

“Aman Residences Tokyo”, situated on the 54th to 64th floors of the 330 meter-tall “Azabudai Hills Mori JP Tower”, stands as a pinnacle of luxury. Prices for ownership range from a rumored 2 billion yen to as high as 30 billion yen, making it the most expensive apartment in Japan.

Furthermore, “Azabudai Hills Residence A”, with its 240 meter height, and “Azabudai Hills Residence B”, towering at 270 meters, also have the potential to be Japan’s most expensive rental apartments.

One of the Garden Plaza buildings already offers 1LDK apartments for around 600,000 yen in rent.

Aman Residences Tokyo: Setting the Bar at 30 Billion Yen

Aman Resorts’ First Ultra-Luxury Condominium

“Aman Resorts”, renowned for their luxury resorts mainly in Southeast Asia but also present in the United States and Europe, have a name that signifies “peace,” “safety,” and “unharm” in languages such as Hindi and Sanskrit.

In Japan, Aman Resorts have introduced hotels like Aman Tokyo, Aman Kyoto, and Amanemu.

Aman Residences Tokyo marks Aman Resorts’ first foray into the residence category. While Mori Building primarily deals with rental apartments, the presence of an exclusive condominium like Aman Residences Tokyo is a unique addition.

Aman Residences Tokyo’s pricing reaches an astonishing 30 billion yen, with many details remaining undisclosed. This extraordinary price range sets a new record for residential properties in Japan, surpassing the previous record of about 6 billion yen.

Comparatively, here are the price tags of some of the world’s other high-priced residences:

• Monaco (Floors 45-49): Approximately 47 billion yen
• New York (Floors 129-131): Approximately 36 billion yen
• Tokyo (Floor 64); Approximately 30billion yen!
• London (Floors 1-6): Approximately 26 billion yen
• New York (Floor 96): Approximately 18.6 billion yen
• New York (Floors 89-90): Approximately 12 billion yen

Aman Residences Tokyo joins the league of these high-value residences worldwide, with the distinction of offering three units on the top floor, positioning it as one of the top candidates for the highest price per square foot.

Azabudai Hills Residence: Japan’s Priciest Rentals?

Azabudai Hills Residence is Still Under Construction

Azabudai Hills is set to open its doors on November 24, 2023. The impressive 330 meter Azabudai Hills Mori JP Tower and its art-gallery-like “Garden Plaza”, consisting of four buildings, are already completed.

However, Azabudai Hills Residence A and B, two of the most anticipated buildings, remain unfinished as of October. Azabudai Hills Residence B, in particular, has only progressed about 20 meters and is unlikely to be completed in 2023.

The two buildings feature different concepts, with Azabudai Hills Residence A aiming for a “resort hotel-style living environment” and Azabudai Hills Residence B designed around the concept of a “smart urban life.”

“Janu Tokyo”, located from the 1st to 13th floors of Azabudai Hills Residence A, offers residents luxury services in collaboration with the hotel. Some units even have private pools.

On the other hand, Azabudai Hills Residence B occupies 70% of the residential facilities within the complex, offering a variety of units suitable for solo living to families.

Azabudai Hills: Will Rents Exceed 5 Million Yen?

Azabudai Hills’ residences are likely to become the most expensive rental apartments in Japan.

Azabudai Hills Residence B, standing at 270 meters, offers 970 units from the 6th to 64th floors. Azabudai Hills Residence A, reaching 240 meters in height, provides 320 units from the 14th to 53rd floors, totaling around 1,300 units in these two buildings.

Azabudai Hills Residence primarily focuses on rental properties. Currently, Japan’s most expensive rental apartment, “La Tour Daikanyama” in Shibuya, charges 5 million yen in rent. Properties ranked from 2nd to 5th are all located near Azabudai Hills in Minato Ward.

As Azabudai Hills Residence is still under construction, and details regarding rents remain undisclosed, it’s highly probable that they will become Japan’s priciest rental apartments. The hefty 580 billion yen cost of Azabudai Hills’ development necessitates setting high rents for capital recovery. Additionally, even in the face of inflation globally, the relative affordability for foreign residents could make these high rents quite popular.

Among the two Azabudai Hills Residence buildings, Azabudai Hills Residence A is expected to have the higher rents. It has fewer units per square meter and is likely to command higher average rents. Moreover, its collaboration with Janu Tokyo enhances its premium appeal, possibly leading to rentals exceeding 6 million yen.

In Conclusion

Aman Residences Tokyo represents the epitome of luxury in Japan, and it might maintain its position as the nation’s most elite property for a long time to come. The prices are exceptionally high when compared to existing apartments.

Furthermore, rental apartments at Azabudai Hills are positioned at a premium rent range, and they could easily surpass the current top spots in Japan. With the top five properties in Japan’s ranking all located within Azabudai Hills, this seems highly plausible.

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