Tokyo’s Luxury Apartment Boom: High-rise Living and Attracting Wealthy Asians

Tokyo, the bustling capital of Japan, is experiencing a population decline but an influx of wealthy Asians. The city’s high-rise living spaces are becoming increasingly expensive despite a housing shortage. Thomas Hasler, head of Sika, showcases Japanese urban planning from the 34th floor of the Mori JP Tower in Tokyo, highlighting how his company benefits from the rise of Japanese real estate developers.

The Mori JP Tower is part of a major project called “Azabudai Hills” by the Japanese real estate giant Mori. The tower boasts 20,000 employees and 91 luxury apartments and showcases Sika’s concrete mixes and composite solutions. Ten more high-rise buildings are under construction or planned, alongside many “tower mansions,” catering to the increasing population in Tokyo.

As Tokyo continues to attract workers and seniors, high-rise living with amenities like schools, hospitals, and restaurants becomes more appealing. Foreign investors are also pouring billions into Japan’s real estate market, especially in Tokyo, considered one of the safest investment destinations in Asia. However, this real estate boom has led to record prices for condominiums in central Tokyo, putting a strain on average Japanese earners.

Despite the high prices, luxury apartments in Tokyo play a crucial role in attracting global talent and maintaining Japan’s competitiveness. Sika stands to benefit from the ongoing development projects in Japan further solidifying its presence in the market.