When Azabudai Hills opened in 2023, it became more than just a new landmark in Tokyo. It started a trend that real estate investors and property buyers took notice of properties around major developments see strong value growth. Now, with the Tsukiji District Redevelopment Project set to become Tokyo’s next major transformation, those who understand this pattern have a chance to benefit.
Learning from Azabudai Hills
The numbers from Azabudai Hills tell a clear story. According to data from Mansion Review, properties in Minato-ku sales market saw a year-on-year average price increase of 48% (October 2024). That figure alone speaks to the impact of major developments on nearby property values.
These 3 properties showed an increase in value over the last year:
Wellith Tower Atago: 69% 2024-2025 year-on-year average price increase
This pet-friendly 110-unit luxury tower near the Dutch Embassy in Minato Ward’s Shiba Scenic District offers 1LDK to 3LDK residences with concierge service, natural stone kitchens, Tokyo Tower views, and walking access to four metro stations, all surrounded by historic temples and lush greenery including Shiba Park.
Park Court Roppongi Hill Top: 71% 2024-2025 year-on-year average price increase
This tower mansion 3 minutes from Roppongi-Itchome Station features ground-floor grocery access and neighboring Izumi Garden and Ark Hills, with rental prices appreciating 10% since construction due to the nearby Mori Building Azabudai Project development.
Grand Suite Azabudai Hilltop Tower: 13% 2024-2025 year-on-year average price increase
This Tower is a 28-story luxury residence completed in 2014, it blends modern design with Japanese aesthetics and offers concierge service, sweeping Tokyo views, and walking access to three stations near Azabudai Hills and international schools, ideal for expat families.
These properties have done well against the average around Minato-ward. Before Azabudai Hills, these properties showed average growth patterns. After the development was announced and construction began, their value trajectories changed.
Price Growth Comparison Near Azabudai Hills
Source: Mansion Review data, compiled 2024 Wellith Tower Atago, Park Court Roppongi Hill Top, Grand Suite Azabudai (JP Only)
These value increases happened in properties closest to the development. The pattern is straightforward: major infrastructure projects in central Tokyo can create value growth in nearby properties, with those offering direct access to new amenities seeing the strongest average increases.
Why Tsukiji Could Offers a Similar Opportunity
The Tsukiji District Redevelopment Project represents Tokyo’s biggest development project for the next 5-10 years. Where Azabudai Hills transformed 8.1 hectares, Tsukiji will redevelop 19 hectares of prime waterfront real estate in Chuo Ward.
The scope goes beyond what Azabudai offers. Plans include a 50,000-seat stadium with flexible configurations for rugby, baseball, soccer, basketball, and concerts. This is a similar size to Tokyo Dome. A life science and commercial complex will house laboratories, offices, and retail spaces. Hotels and MICE facilities will bring conferences and exhibitions. Multiple residential buildings and office towers will create a new community on Tokyo’s central waterfront.
Azabudai Hills made its mark with luxury residences and office space. Tsukiji adds the stadium, larger social areas, and more residential and office buildings. The scale means more people working, living, and visiting the area, which typically translates to average increased demand for nearby properties.
Location Matters
Tsukiji’s location offers advantages that that could be described as better than Azabudai. The site sits in central Tokyo with connections to Shinbashi, Ginza, and direct access to both the city center and the waterfront. This is one of Tokyo’s great central areas with waterfront views.
Transportation infrastructure includes a planned subway station on the proposed Central Tokyo and Waterfront Area Subway Line, expected to be completed by 2040. The Urban Expressway Route 10 Harumi Line will offer direct highway access, also targeting early 2040s completion. A disaster prevention pier will support water transport services, connecting Tsukiji to other parts of Tokyo by boat. The design even includes infrastructure for flying cars, looking toward future mobility options. The Tokyo BRT system provides direct bus connections from Shimbashi through Kachidoki to the waterfront areas, adding another transport layer to the district’s accessibility.
Around 80% of the development should be open and operational by 2032, with full completion targeted for 2038. This timeline means property value changes could begin emerging as early phases open, similar to what happened with Azabudai Hills.
The Reclaimed Land Advantage
Properties near the Tsukiji development sit on reclaimed land areas like Toyomicho, Kachidoki, Tsukishima, and Tsukuda. These neighborhoods were built on land reclaimed from Tokyo Bay, and they offer benefits that traditional areas don’t always provide.
Modern reclaimed land developments feature organized layouts with larger roads, better spacing between buildings, and more green areas. The planning that goes into these areas creates neighborhoods designed from the start with modern urban living in mind.
Understanding Foundation Safety on Reclaimed Land
When it comes to building on reclaimed land, foundation type matters. There are three main approaches:
Type 1: Direct Contact Foundations
In areas closest to the mainland, pile foundations extend through the reclaimed section to reach hard rock below. This direct contact method is the same approach used on regular land, making it equally safe. Most properties in Toyomicho, Kachidoki, Tsukishima, and Tsukuda near the Tsukiji development use this foundation type because these areas are closest to the original shoreline.
Type 2: Pile-in-Fill Foundations
When reclaimed land depth makes reaching original ground material impractical, foundations only extend into the reclaimed section. This approach isn’t as strong as direct contact foundations and can have stability concerns.
Type 3: Through-Fill Foundations
These foundations go through the reclaimed land and into the original ground material but don’t reach bedrock. This method is safer than Type 2 but not quite as secure as Type 1 direct contact foundations.
The four reclaimed land areas nearest to Tsukiji, Toyomicho, Kachidoki, Tsukishima, and Tsukuda, sit closest to the mainland. Most properties here use Type 1 direct contact foundations, the safest option.
These buildings are also relatively new, incorporating state-of-the-art earthquake resistance technology. Japan leads the world in seismic engineering. Combined with proper foundation types, these properties offer both safety and modern living standards.
Understanding Earthquake Safety on Reclaimed Land
Modern buildings on reclaimed land near Tsukiji incorporate advanced earthquake resistance beyond strong foundations. Japanese construction uses three main approaches: Taishin strengthens buildings with reinforced walls, columns, and beams to resist shaking. Menshin (base isolation) separates the building from ground movement using special devices between the foundation and structure. Seishin (vibration control) absorbs earthquake energy through dampers installed throughout the building. Combined with Type 1 direct contact foundations and Japan’s strict inspection requirements, newer properties near Tsukiji offer both structural stability and advanced seismic protection working together.
Timeline and Development Phases
The project moves forward in phases. Temporary facilities could open as early as 2026-2027 to start building activity in the area. A waterway and theater hall complex is planned to open in 2029, bringing cultural attractions and boat transport amenities before the larger development completes.
The first major phase of development targets the early 2030s, with around 80% of facilities operational by 2032. The second phase will complete by the late 2030s, with full development finished by 2038. As each phase opens, the area will see more visitors, workers, and residents, typically leading to increased demand for nearby properties.
Investment Considerations
Major developments can affect property values in predictable ways. Transport improvements make areas more accessible. New amenities attract people who want to live nearby. Employment centers create demand from workers seeking shorter commutes. Cultural facilities and retail options improve quality of life for residents.
These factors work together to shift how buyers view a neighborhood. Before Azabudai Hills, Toranomon was seen as primarily a business district. After development, it became a place where people wanted to live and invest. The 48% average price increase in the area, with properties nearest the development seeing larger average increases, shows how this transformation affects values.
Tsukiji starts with some advantages Azabudai didn’t have. The waterfront location is unique for central Tokyo. The stadium will draw large events and visitors. The life science complex will create specialized employment. The mix of residential, office, cultural, and entertainment facilities will make Tsukiji a destination, not just a place to pass through.
Properties in nearby neighborhoods like Toyomicho, Kachidoki, Tsukishima, and Tsukuda offer direct access to these future amenities. Walking distance to a major stadium, waterfront parks, restaurants, shopping, and cultural facilities typically commands a premium in real estate markets.
The reclaimed land in these areas provides modern layouts with proper spacing, green areas, and organized infrastructure. Combined with Type 1 direct contact foundations that match the safety standards of regular land, these properties offer both security and quality of life improvements.
Why Housing Japan for Tsukiji Area Properties
With 25 years of experience in Tokyo’s real estate market, Housing Japan knows how to identify properties positioned to benefit from major developments. We understand foundation types and can tell you whether a property uses direct contact, pile-in-fill, or through-fill construction. We know which buildings incorporate modern earthquake resistance systems and which areas offer the optimal combination of location, construction quality, and value potential.
Our multilingual team works with international buyers who want to invest in Tokyo real estate but need guidance on technical factors that other buyers may take for granted. Foundation type, earthquake resistance standards, proximity to planned infrastructure, and development timelines all matter when making investment decisions.
We saw what happened around Azabudai Hills. Properties closest to the development showed the strongest value growth. Those with direct access to new amenities and shopping outlets outpaced the broader market. Buildings with modern construction and good connections attracted buyers willing to pay premiums.
The same pattern is setting up around Tsukiji, and the window to benefit from it won’t stay open indefinitely. As construction progresses and opening dates approach, prices typically adjust to reflect the coming improvements. The properties that show the strongest growth are usually the ones buyers identify early.
Comparing Development Timelines and Market Response
When Azabudai Hills was announced, some investors understood what was coming. They looked at properties near the development and made decisions before the broader market caught on. Some properties saw 69-71% average increases year on year (october 2024), 20-25% above the Minato-ku area.
Tsukiji offers a similar situation, but larger in scale. The biggest development project in Tokyo for the next decade, in a great central waterfront location, with infrastructure improvements that will reshape access to the area. Properties in Toyomicho, Kachidoki, Tsukishima, and Tsukuda sit right next to it, built on reclaimed land with proper foundations and modern earthquake resistance.
History shows that major developments in central Tokyo can create value growth in nearby properties. The Azabudai Hills data supports this. Tsukiji’s scale and location suggest the pattern could repeat, potentially even stronger.
Housing Japan can help you identify the right properties. We know which areas near Tsukiji offer Type 1 direct contact foundations and understand which buildings incorporate the latest earthquake resistance technology. We can also show you properties with optimal access to the planned subway station, expressway connections, and waterfront amenities.
This is the chance to learn from what happened at Azabudai Hills and position yourself for Tsukiji’s transformation. The development is moving forward. Construction is underway. The first facilities will start opening in just a few years.
Frequently Asked Questions
Q: What areas near Tsukiji offer the safest foundation types?
The four reclaimed land areas closest to Tsukiji, Toyomicho, Kachidoki, Tsukishima, and Tsukuda, primarily use Type 1 direct contact foundations, where piles extend through the reclaimed section to reach bedrock. This is the same method used on regular land and provides near equal safety standards.
Q: How do Toyko properties near major developments typically perform?
Data from Azabudai Hills shows properties near major developments can see strong value growth. The overall Minato-ku area saw 48% year-on-year increases, over the last 10 years, while properties closest to Azabudai Hills saw up too 69-71% average increases year on year, 20-25% above the area average.
Q: When will the Tsukiji development be completed?
The project moves in phases. Initial facilities could open in 2026-2027, with a waterway and theater complex opening in 2029. Around 80% of the development should be operational by 2032, with full completion by 2038. The planned subway line targets 2040 completion.
Q: Why could reclaimed land near Tsukiji possibly be a good investment?
Reclaimed land developments near Tsukiji feature modern layouts with organized infrastructure, larger roads, better spacing between buildings, and more green areas. Properties in Toyomicho, Kachidoki, Tsukishima, and Tsukuda primarily that use Type 1 direct contact foundations and incorporate modern earthquake resistance systems.
Q: How can Housing Japan help with property investment near Tsukiji?
With 25 years of experience, Housing Japan can identify properties with proper foundation types, modern earthquake resistance, and optimal locations near the development. Our multilingual team understands both the technical factors and market dynamics that affect property values in Tokyo.
About Housing Japan
Housing Japan specializes in luxury real estate and property development in Tokyo with 25 years of experience. We offer bilingual support for international buyers and investors, helping clients understand the technical and market factors that affect property values. Whether you’re looking for a residence or an investment property, our team provides the local expertise and international service that makes Tokyo real estate accessible.
Ready to explore investment opportunities near the Tsukiji development? Contact Housing Japan today.
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Housing Japan
7F BPR Place Kamiyacho, 1-11-9 Azabudai, Minato-ku, Tokyo, Japan 106-0041
