5,632 homes across an 18-hectare district
The Tokyo Metropolitan Government’s August 7 update describes the Harumi 5-chome West redevelopment in Chuo Ward as an approximately 18-hectare project containing 21 mid- and high-rise residential blocks, two approximately 180-meter, 50-story residential towers and one commercial building. The total residential count is 5,632 units, including 4,145 for sale and 1,487 rental units. The district includes structures originally used as accommodation during the Tokyo 2020 Games and subsequently converted for residential use.
A development large enough to create its own market
Unlike a conventional single-building condominium project, a development of several thousand units effectively creates a new urban submarket. Transport, bus services, retail, schools, public space and other infrastructure can influence both resale prices and rents. Large supply can create competition among listings, but the development of an entire neighborhood can also improve recognition and convenience, supporting longer-term demand.
Waterfront buyers should assess building-level differences
Tokyo waterfront towers can appeal to domestic and international buyers because of newer construction, views and shared facilities. However, management fees, reserve contributions, long-term repair plans, disaster preparedness and future nearby supply all deserve close examination. Even within Harumi, value can differ materially by tower, floor, orientation and transport access.