According to data compiled by the Real Estate Economic Institute, there are currently 262 super high-rise* residential buildings containing 101,450 apartments planned for completion across Japan from 2015 onwards. This is an increase of 75 buildings and 25,910 apartments from last year.
77,824 of the apartments, comprising 76.7% of the total, are located in the greater Tokyo area, and 50,371 apartments (49.7%) are within Tokyo’s 23 wards.
The planning and construction of super high-rise apartment buildings began to increase in the late 1990s. High-rise apartment buildings have remained steadily popular with buyers, and have retained relatively strong re-sale values.
However, the downturn in the property market following the collapse of Lehman Brothers in late 2008 saw developers limit the supply of new construction. As a result, the annual supply of apartments went from 35,609 in 2009 to 17,967 in 2010. The Tohoku tsunami and earthquake in 2011 saw a number of projects in the Tohoku and Kanto regions delayed, and new supply dropped to 13,321 apartments.