Tokyo luxury real estate shifts to private closed sales

Japan's luxury real estate market is seeing a rise in ‘closed sales’ models, where ultra-prime properties are sold privately to specific clients rather than through public registration or lotteries. A notable example is the Aman Residences Tokyo at Azabudai Hills Mori JP Tower, where a penthouse unit reportedly sold for approximately 20 billion yen (nearly 1 billion HKD).

Developers are increasingly adopting these discreet sales methods to cater to ultra-high-net-worth individuals who prioritize privacy and security. This shift is driven by a growing population of wealthy individuals in Japan; the number of ultra-wealthy households with net financial assets exceeding 500 million yen has more than doubled in the last decade. Factors such as rising stock markets and a weaker yen have contributed to this wealth expansion.

Beyond exclusivity, heightened security is a major driver. Following a series of robberies in the Tokyo metropolitan area, wealthy buyers are showing increased interest in high-rise luxury residences that offer superior privacy and controlled access compared to standalone mansions.