Japanese Luxury Real Estate Brand Modern Standard Announces "Best Locations to Live in Tokyo" for the year of 2024

Areas with luxury estate projects catch the attentions of the wealthy class

TOKYO, April 17, 2024 /PRNewswire/ -- Japanese company Modern Standard Inc. released the research results about "Best locations to live in Tokyo for the year of 2024" chosen by customers with an annual salary exceeding 10 million JPY (roughly 66,065 USD). The data was sorted out based on the actual rental deals completed by Modern Standard (Headquarters: Minato district, Tokyo / Representative: Dai Higuchi / Hereinafter as "Modern Standard''). Modern Standard Inc. is a subsidiary of the GA technologies group (Headquarters: Minato district, Tokyo / Representative: Ryo Higuchi / Securities code: 3491 / Hereinafter as "the Company '') focusing on the brokerage business of luxury real estate in Japan. This press release will be focusing on the top 5 areas and stresses out the average annual salary of the residents, the common professions of the residents, and the livable factors of each location. 

Special web page: https://www.m-standard.co.jp/ranking/sumitaimachi/ 

＜Key Highlights＞

The data was sorted out based on the actual rental deals made between Modern Standard and customers with annual salaries exceeding 10 million JPY (roughly 66,065 USD) over the past year.  The top 3 best locations to live in Tokyo: No.1 "Kachidoki, Chuo district", No.2 "Shirokane, Minato district", No.3 "Mita, Minato district". With an average salary of 37.11 million JPY (about 245,183 USD), Shirokane located in the Minato district tops the list in terms of annual salary. 

Getting popularity with luxury real estate projects recently completed, Kachidoki tops the list as No.1 most preferable location

The location that is titled with the crown is Kachidoki located in Chuo district, which was in 6th place last time and jumps 5 spots up this time. The area is getting popular with several luxury real estate projects that are either completed or are on the way for development, such as the "Park Tower Kachidoki"one of the most popular projects on the market of high-end real estate. On the other hand, No.6 "Kaigan area located in Minato district" was No.18 last time, also catching the eyes of the market with several luxury re-development projects. 

No.2, Shirokane area in the Minato district is also preferred by the wealthy class with newly built luxury real estate projects like "Shirokane The Sky" etc. It is also the first time that Shirokane is in the top 10. No.5, Nishi-Shinjuku located in the Shinjuku district is also speeding up its re-development with high-end estate projects such as "La Tour Shinjuku First", "City Tower Shinjuku". This is also the first time the area has been chosen as top 5. Other locations that are on the list like "Akasaka, Minato district" (No.4), "Roppongi, Minato district" (No.8), and "Jingumae, Shibuya district" (No.10) have been in the top 10 for 4 consecutive years with continuous popularity among the affluent class in Japan. 

Shirokane crowns the list with an average annual salary of about 245,183 USD

The data was sorted out based on the average annual salary of the residents, the common professions of the residents, and the livable factors of each area. The average annual salary from the highest to the lowest is as follows: No.1: Shirokane (Minato district / about 245,183 USD), No.2: Mita (Minato district / about 202,926 USD), No.3: Nishi-Shinjuku (Shinjuku district / about 15,953 USD), No.4: Kachidoki (Chuo district / about 146,169 USD), No.5: Akasaka (Minato district / about 109,232USD).

"Kachidoki"

Even though the overall points for livability is 4 out 5 (Full score is 5), which is slightly lower compared to other locations. The luxury properties in this area tend to have well-furnished public facilities which attract many buyers. These luxury properties are popular among high income office workers working in prestigious companies, KOL and creators. Along with the opening of "LaLa Terrace HARUMI FLAG", a big shopping mall nearby the area, it will certainly elevate the quality of Kachidoki even more. 

"Shirokane"

Having to have the highest annual income out of the top 5 locations, Shirokane is an area that is full of greenery facilities and historic architecture. The chic atmosphere of the streets attract affluent class mostly working in big companies and medication-related industries. The area is planning on upgrading the transportation access by connecting the subway station of Shirokane-takanawa and Shinagawa station, which is one of the major business areas in Tokyo. 

"Mita"

Mita is a location mainly occupied with luxury flat-houses and famous designed luxury mansions. Mita has the second highest annual salary out of the top 5 locations. Mita subway station has great access to other main areas in the center of Tokyo such as Tamachi station and Azabujuban station. Mita is famous for having a good education environment, therefore, is popular among families that value good education. 

"Akasaka"

Akasaka has the highest livable score of 4.7 among the top 5 locations. Akasaka has great access to other centered locations of Tokyo. It is also an area that is close geographically to many popular business and sightseeing spots like TOKYO MIDTOWN. Akasaka is a versatile location intertwined with traditional, International and commercial elements. The openings of several business facilities in the location is going to attract more people's attention to Akasaka. 

"Nishi-Shinjuku"

Although, it is common to relate images of business and sightseeing with Shinjuku. However, not only does Nishi-Shinjuku have good transportation access, it is also a location with good public facilities like Shinjuku central park. It is indeed a location good for living and attains the highest score of 5 for livability. Nishi-Shinjuku also has the highest percentage of residents working in the medication-related occupations. 

Research result

Research period：January 1st, 2023~ December 31, 2023
Research targets：Luxury rental real estates in Tokyo that are listed on Modern Standard website
Data collection method: Only the luxury real estates for rental in Tokyo that are listed on Modern Standard's website and are signed (rented) by our customers with an annual income that is above approximately 66,075 USD are counted（*1）(*2）.
Livability score: The score point is calculated based on the data published by Ministry of Land, Infrastructure, Transportation, Tourism of Japan, and were calculated by AI.（*3）

About Modern Standard Inc.

Company name: Modern Standard Inc.
Representative: Dai Higuchi
Website link: https://www.m-standard.co.jp/
Services provided:

Rental properties brokerage business Properties for sell brokerage business

About GA technologies Co., Ltd

Company name: GA technologies Co., Ltd. 
Representative: Ryo Higuchi
Website link: https://www.ga-tech.co.jp/
Headquarter: 40F of Sumitomo real estate Roppongi Grand Tower, Roppongi 3-2-1, Minato-Ku, Tokyo
Year of founding: March, 2013
Services provided: 

Online real estate marketplace business: RENOSY BtoB PropTech SaaS development

Subsidaries: ITANDI, Shenjumiausuan, Spica Consulting, RW OpCo, and 21 other group companies

Media contact:
Judy Yu
y_yu@ga-tech.co.jp
+81-3-6230-9180