Luxury Tokyo Penthouse Fetches Over $65 Million in Booming Market
A luxury penthouse in Tokyo, developed by Swedish buyout firm EQT AB, has sold for a staggering ¥9.5 billion ($67 million), highlighting the rising demand for high-end properties in the city.
Luxury Real EstateTokyo MarketHighend PropertiesEqt AbMarq Omotesando OneReal Estate NewsMay 27, 2025
A tsubo is a Japanese unit of measurement that equates to 3.3 square meters, amounting to a sale price of about ¥9.5 billion for the 625-plus square-meter property, according to Bloomberg calculations. The Marq One penthouse stretches across the entire fourth floor of the property, featuring a spa room, three terraces, and a private rooftop and pool. The condo is accessible via a private elevator from the garage, and amenities include a 24-hour concierge service with a valet.
While the buyer wasn’t disclosed, the price is a peek into the opaque world of luxury real estate sales in Japan. High-end properties in Tokyo have become more prevalent in recent years, as developers seek to tap rising demand from local and foreign buyers for higher returns. Sales are often limited to certain clients, with pricing kept under wraps. Home prices in Tokyo have been on a broad upward trend, driven by rising construction costs and a limited supply of new buildings.
Sales of luxury properties in popular developments like Azabudai Hills’ Aman Residences and Mita Garden Hills have also skewed average prices higher. EQT developed and finished building the 14-unit property in 2021, before selling the apartments in phases. One unit is still available for sale. The per-tsubo price exceeds the ¥44 million that a penthouse at the Aman in Azabudai Hills reportedly went for last year. That apartment is still the most expensive sold in Japan at a reported ¥30 billion.
Prices of prime properties — defined as in the top 5% of the market — jumped more than 50% in Tokyo in the five years to June 2024, a time when values fell in Hong Kong, New York, and London, according to real estate consultancy Knight Frank. Tokyo still offers a relative bargain for high-end property, with $1 million buying more than twice the amount of luxury living space than Hong Kong did in 2024, Knight Frank data show.
Frequently Asked Questions
What is the significance of the tsubo in Japanese real estate?
A tsubo is a traditional Japanese unit of area that equates to 3.3 square meters. It is commonly used in real estate transactions and property listings in Japan, particularly for measuring the size of land and floor areas.
Why is the luxury real estate market in Tokyo booming?
The luxury real estate market in Tokyo is booming due to a combination of factors, including rising construction costs, a limited supply of new buildings, and increasing demand from both local and foreign buyers looking for high-end properties with premium amenities.
What amenities does the Marq Omotesando One penthouse offer?
The Marq Omotesando One penthouse offers a spa room, three terraces, a private rooftop and pool, and a private elevator from the garage. It also includes a 24-hour concierge service with a valet.
How does the price per tsubo of the Marq Omotesando One penthouse compare to other luxury properties in Japan?
The Marq Omotesando One penthouse sold for more than ¥50 million per tsubo, which is the highest on record in Japan. This price exceeds the ¥44 million per tsubo that a penthouse at the Aman in Azabudai Hills reportedly went for last year.
What is the trend in prime property prices in Tokyo compared to other global cities?
Prime property prices in Tokyo have jumped more than 50% in the five years to June 2024, while values in cities like Hong Kong, New York, and London have fallen. Tokyo still offers a relative bargain for high-end property, with $1 million buying more than twice the amount of luxury living space than Hong Kong did in 2024.
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