Tokyo Tatemono President talks trends in luxury condominium sales
- Adam German
- 1 day ago
- 3 min read
On August 19th, the Nikkei Shimbun sat down with Katsuhito Ozawa, president and CEO of Tokyo Tatemono, the developer behind the “Brillia” condominium brand, said these so-called “Super-Power-Families” are propping up the market, and he expects the upward trend to continue for the time being.
Tokyo Tatemono President Katsuhito Ozawa, courtesy of the developer’s website.
Price Outlook - No Decline in Sight
Asked whether prices will continue rising, Ozawa replied:
“While the pace of increase may moderate, it is hard to imagine prices falling. Supply of new condominiums is declining yet demand to live in central Tokyo remains strong. With dual-income households boosting purchasing power, families earning over ¥30 million annually - what we call ‘Super-Power-Families’ - and ‘Power-Couples’ are supporting the market.”
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He added that the resale market is also performing well:
“Because new supply is limited, demand for existing condos is rising, creating a healthy cycle of homeowners upgrading to new residences.”
On Restrictions Against Investment Purchases
The Chiyoda Ward government has asked industry groups to consider restrictions on investment-driven condo purchases.
Ozawa commented:
“Tokyo Tatemono does not fundamentally impose such restrictions, but it is not desirable for housing to become purely speculative. Most Brillia buyers are Japanese, and the majority purchase for personal use. That said, it is not always possible to distinguish perfectly between end-users and investors, since once a unit is sold, the reasons for resale are hard to track.
“Investment certainly forms part of the market, but based on Brillia’s sales record, end-user demand is dominant. I don’t think [possible] restrictions will have a major impact."
Brillia’s Strategy - Targeting Wealthy Buyers
Looking ahead, Ozawa said the company will continue to target affluent buyers.
“Condominiums are not just about selling units; what matters is how well we manage them afterward to prevent deterioration. Enhancing security and common facilities is key to raising residents’ satisfaction. We have created a specialized team for the development and sales of luxury condominiums.”
Examples include:
Brillia Tower Dojima (Osaka, completed 2024): featuring a penthouse-level party room with panoramic views of the city and art installations by world-renowned artists.
Brillia Tower Nogizaka (Tokyo, scheduled for completion in 2028): directly connected to Nogizaka Station, which has already received over 5,500 inquiries ahead of its October 2025 sales launch.
“Maintaining quality post-sale is something only major developers can guarantee. The high-end condo market is becoming increasingly consolidated among large firms.”
Land Acquisition and Redevelopment Challenges
Asked about Tokyo Tatemono’s target to sell 2,000 units annually by 2030 despite land shortages in central Tokyo, Ozawa said:
“Securing land is our top priority. With 130 years of history, Tokyo Tatemono is the oldest major developer in Japan. Thanks to long-standing relationships with landowners, we are often approached directly when they wish to sell, enabling us to maintain supply.”
The company is also advancing redevelopment projects:
“Redevelopment takes time as it requires landowners’ consent, but it is essential for stable supply. Many aging buildings constructed under old earthquake-resistance standards risk becoming vacant and a social issue. Through redevelopment, we can modernize functionality, improve disaster resilience, and enhance urban safety.”
Focus on Tokyo; Regional Projects Face Hurdles
In central Tokyo, Tokyo Tatemono is prioritizing projects in the Yaesu-Nihonbashi-Kyobashi area, including the mixed-use complex ToFroM Yaesu, scheduled for completion in 2026 near Tokyo Station’s Yaesu exit.
However, regional projects face obstacles:
“With soaring construction costs, profitability [from a developer standpoint] in regional cities is difficult. Redevelopment of the former Mitsukoshi site in Niigata is under consideration, but the timeline is still uncertain.”
Source:
Nikkei Asia (Japanese only; paywalled)
