Tokyo has topped a global list of 2025’s prime property hotspots, registering a staggering 30 per cent ‘prime capital value growth’ over the previous year.
The data, taken from Savills’ Prime Residential World Cities report, reflects changes in purchase prices for the top 5 per cent of residential properties across 30 key global property markets.
Tokyo was a clear outlier, recording more than double the percentage growth of the second-placed city on the list, Seoul.
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The result is partly down to a shift in the prime and super-prime residential market in the Japanese capital. Tokyo’s previously small market for super-prime luxury property has been significantly reshaped by a string of new projects, including private residences from hyper-luxury boutique hotel chain Aman, which were unveiled in 2024.
An Aman penthouse reportedly sold for around 20 billion yen (approximately $140 million), setting a new record for Japanese apartment prices.
The Aman scheme comprises 91 fully serviced residences within Tokyo’s tallest residential building – the Mori JP Tower – designed by architects Pelli Clarke & Partners. The tower rises to 1,066 feet and forms part of the Azabudai Hills development.
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Other recently launched luxury developments in Tokyo include The Kita, where a 5,457 sq ft penthouse with a rooftop infinity pool sold for about $50 million, the Mita Garden Hills development and Toranomon Hills Residential Tower.
‘[Tokyo] combines acute supply scarcity with enduring investor appeal,’ Savills said in a press release accompanying the report’s data. ‘A widening disconnect between new apartment prices and construction costs raises medium-term sustainability questions, yet competition for land – particularly from office developers – continues to restrict residential delivery.’
Commenting more broadly on the report, Kelcie Sellers, associate director of Savills world research, said: ‘Chronic undersupply, cross-border capital flows and sustained demand for global city environments, especially those with strong lifestyle and fiscal pulls, will continue to drive growth in prime residential markets around the world.’
