This information is current as of September 2026.
TAKANAWA GATEWAY CITY, the redevelopment around Takanawa Gateway Station, held its grand opening on March 28, 2026. Yet when we break down nearby resale condo prices by district, Takanawa itself — the district where the project actually opened — grew more slowly than Minato Ward as a whole. The districts that grew the most were Konan and Shibaura.
"A major new district opened right by the station, so the condos around it must be rising too" — many prospective buyers assume this when they start looking for a property near the station. In this article we use figures we compiled ourselves from Ministry of Land, Infrastructure, Transport and Tourism (MLIT) data to check how prices actually moved in Takanawa, Konan, and Shibaura, and we set out a practical framework an investor can use to judge the area rather than relying on the headline news alone.
Key points in this article
- TAKANAWA GATEWAY CITY had a soft opening on March 27, 2025 and its grand opening on March 28, 2026 (actual).
- From 2023 to 2025, the median price per m² for resale condos rose +29.2% across Minato Ward overall, +16.2% in Takanawa, +38.9% in Konan, and +44.0% in Shibaura.
- Takanawa was 11.7% above Minato Ward's overall level in 2023, but that gap had narrowed to just 0.5% by 2025.
- The housing inside the new district is an 847-unit rental-only residence, so if you plan to operate a rental property nearby, you need to factor it in as competition.
- Because the redevelopment's effect alone cannot be isolated from the data, the starting point for any judgment is comparing like-for-like districts and building ages.
When did the Takanawa Gateway redevelopment fully open?
TAKANAWA GATEWAY CITY held its grand opening on March 28, 2026. According to JR East's announcement, this date saw three buildings open — THE LINKPILLAR 2, MoN Takanawa: The Museum of Narratives, and TAKANAWA GATEWAY CITY RESIDENCE — following THE LINKPILLAR 1, which had its soft opening on March 27, 2025.
According to the official site, total floor area is approximately 845,000 m². We cover the facility mix by block and the project's background in Takanawa Gateway City's redevelopment project overview; here we focus only on the timeline that matters for judging prices.
Timeline around Takanawa Gateway (Target)
| Timing | Event | Status |
|---|---|---|
| March 27, 2025 | THE LINKPILLAR 1 opens; Takanawa Gateway Station is fully operational | Actual |
| October 2, 2025 | JW Marriott Hotel Tokyo opens on the upper floors of TAKANAWA GATEWAY CITY | Actual |
| March 28, 2026 | Grand opening (THE LINKPILLAR 2, MoN Takanawa, and TAKANAWA GATEWAY CITY RESIDENCE open) | Actual |
| Spring 2028 | On-site preservation and public opening of the Takanawa Chikutei embankment (Bridge No. 7 section and park area, a nationally designated historic site) | Target |
The public-opening date for the Takanawa Chikutei embankment (高輪築堤, a Meiji-era railway embankment preserved as a national historic site) was given as "fiscal 2027" in JR East's October 2025 announcement. As of September 2026 the official site lists "Spring 2028," so the table above uses the newer wording.
Housing in the district is rental, not for sale
TAKANAWA GATEWAY CITY RESIDENCE is a luxury rental residence with 44 floors above ground and 2 below, comprising 847 units in total. Unit sizes range from 43.12 m² to 587.60 m², in 1LDK-to-5LDK layouts, and JR East describes the units as internationally minded, built to also suit expats (foreign business professionals). It is located in Mita 3-chome, Minato Ward.
This residence cannot be purchased under any circumstances, since JR East Group entities retain ownership and lease the units out. If you want to buy a condo around Takanawa Gateway, your realistic options are existing resale properties in Takanawa, Konan, Shibaura, and similar surrounding districts.
Redevelopment continues in the surrounding area
JR East says it will keep advancing the development of TAKANAWA GATEWAY CITY together with the area around Shinagawa Station — the Shinagawa Station North Entrance improvement and the Shinagawa Station district — as one connected effort. At the grand-opening ceremony, the company's president called it "the grand opening of Phase 1" and signaled the intent to extend the district toward Shinagawa Station.
The Type 1 urban redevelopment project for the Shinagawa Station North District along National Route 15 received its city-planning decision on October 12, 2022. According to Tokyo Metropolitan Government materials, housing is included among the main uses of the south block alongside offices and retail. We cover the details of this plan in the Shinagawa Station North District's 115-meter twin-tower plan and the Sengakuji Station District Type 2 urban redevelopment plan overview.
How have condo prices moved around Takanawa Gateway?
From 2023 to 2025, Shibaura and Konan grew the most, while Takanawa — the ground zero of the redevelopment itself — grew more slowly than Minato Ward overall. The table below is our own tabulation, by district name, of "resale condominium" transactions based on MLIT's real estate transaction price information.
| Year | Minato Ward overall | Takanawa | Konan | Shibaura |
|---|---|---|---|---|
| 2023 | ¥1,467,000 (2,081 transactions) | ¥1,638,000 (188 transactions) | ¥1,260,000 (181 transactions) | ¥1,367,000 (268 transactions) |
| 2024 | ¥1,667,000 (1,993 transactions) | ¥1,633,000 (170 transactions) | ¥1,463,000 (174 transactions) | ¥1,650,000 (219 transactions) |
| 2025 | ¥1,895,000 (2,241 transactions) | ¥1,904,000 (172 transactions) | ¥1,750,000 (192 transactions) | ¥1,968,000 (270 transactions) |
| 2026 (Q1 only, provisional) | ¥2,000,000 (432 transactions) | ¥1,930,000 (34 transactions) | ¥1,875,000 (45 transactions) | ¥1,845,000 (38 transactions) |
*Figures are the median price per m²; the number in parentheses is the transaction count.
| District | Growth 2023→2025 | Gap vs. Minato Ward in 2023 | Gap vs. Minato Ward in 2025 |
|---|---|---|---|
| Minato Ward overall | +29.2% | — | — |
| Takanawa | +16.2% | +11.7% | +0.5% |
| Konan | +38.9% | −14.1% | −7.7% |
| Shibaura | +44.0% | −6.8% | +3.9% |
*Growth rates and gaps are calculated by us from the median m² prices in the table above (example: Konan's growth rate is 1,750,000 ÷ 1,260,000 − 1).
Takanawa was roughly flat from 2023 to 2024 (¥1,638,000 → ¥1,633,000). In 2025, the year THE LINKPILLAR 1 opened, it rose +16.6% year-on-year, slightly above Minato Ward's overall +13.7%. But over the full two years it still fell short of the ward's overall growth, and the gap that existed in 2023 has nearly disappeared.
Konan and Shibaura, by contrast, rose faster than the ward overall: Konan narrowed its gap with the ward, and Shibaura overtook the ward average in 2025.
The 2026 figures are provisional, covering Q1 only. Minato Ward's overall transaction count for the quarter was 432, fewer than any 2025 quarter (557–567), and more transactions will be added later. Shibaura's ¥1,845,000 is below the ¥2,000,000 seen across Q2–Q4 of 2025, but with only 38 transactions in a single quarter, this cannot be read as a turn to decline.
Source: Ministry of Land, Infrastructure, Transport and Tourism (MLIT), Real Estate Information Library (国土交通省 不動産情報ライブラリ, https://www.reinfolib.mlit.go.jp/), "Real Estate Transaction Price Information" (MLIT), compiled by INA&Associates Inc. Based on data retrievable as of September 2026. The most recent quarter is a provisional figure because transactions are added later. This data is not guaranteed to be the most up-to-date, accurate, or complete.
What's different between Takanawa, Konan, and Shibaura? Prices and building age
The three districts differ in the makeup of what actually trades, so growth in the median price per m² alone cannot tell you which is "better." Here we line up transactions from 2025 through Q1 2026 by actual price and building-age band.
| District | Transactions | Median transaction price | Middle 50% price range | Median floor area | Built 1999 or earlier | Built 2000–2015 | Built 2016 or later |
|---|---|---|---|---|---|---|---|
| Minato Ward overall | 2,673 | ¥110 million | ¥50 million–¥200 million | 55 m² | 831 | 1,352 | 482 |
| Takanawa | 206 | ¥100 million | ¥48 million–¥200 million | 55 m² | 79 | 91 | 36 |
| Konan | 237 | ¥130 million | ¥97 million–¥160 million | 75 m² | 4 | 231 | 2 |
| Shibaura | 308 | ¥100 million | ¥50 million–¥167.5 million | 60 m² | 81 | 169 | 56 |
*Transactions with an unknown build year (8 in Minato Ward overall, 2 in Shibaura) are excluded from the age-band columns. "Middle 50% price range" is the range between the 25th and 75th percentile when transactions are sorted from cheapest to most expensive.
In Konan, 97.5% of transactions are properties built between 2000 and 2015. Its median floor area, 75 m², is the largest of the four areas, and its middle-50% price range of ¥97 million–¥160 million is comparatively narrow.
In Takanawa, properties built in 1999 or earlier account for 38.3% of transactions, higher than Minato Ward's overall 31.1%. Its middle-50% price range, ¥48 million–¥200 million, is wide, meaning prices vary a lot from property to property.
In Shibaura, 54.9% of stock was built between 2000 and 2015, an age mix close to the ward overall (50.6%). Its annual transaction count, 270 in 2025, was the highest of the three districts.
Source: Ministry of Land, Infrastructure, Transport and Tourism (MLIT), Real Estate Information Library (国土交通省 不動産情報ライブラリ, https://www.reinfolib.mlit.go.jp/), "Real Estate Transaction Price Information" (MLIT), compiled by INA&Associates Inc. Based on data retrievable as of September 2026. The most recent quarter is a provisional figure because transactions are added later. This data is not guaranteed to be the most up-to-date, accurate, or complete.
INA's View
From here on, this is our own interpretation built on the facts above. It is not a promise about future prices.
The redevelopment's effect does not show up plainly in "the district where it opened"
We believe most of the 2023–2025 rise reflects Minato Ward's broad-based price growth rather than the redevelopment specifically. With the ward overall up +29.2% over the same two years, it is simply not possible to isolate TAKANAWA GATEWAY CITY's effect on its own from published transaction data.
As for why Takanawa was caught up by the ward average, we suspect the high share of older buildings is a factor: the median unit price tends to read lower when more of the trading stock is older. In other words, it would be premature to conclude that "Takanawa's housing value has fallen."
We think the growth in Konan and Shibaura reflects both anticipation of the redevelopment and a catch-up effect, since both districts were relatively cheap within the ward's broader rise. Konan was 14.1% below the ward overall in 2023, and that gap had narrowed to 7.7% by 2025.
A judgment framework by area (buy now / wait and see / pass)
| District / property type | Our view | Judgment | What to check before buying |
|---|---|---|---|
| Konan (units built 2000–2015) | The gap with the ward overall has narrowed, so the "it's cheap, so buy" case has weakened | Worth considering for long-term owner-occupancy or asset preservation; wait and see if you're chasing a short-term price gain | Timing of major repairs and the repair-reserve fund balance; past sale prices within the same building |
| Shibaura | It overtook the ward overall in 2025; the 2026 figures aren't enough to judge yet | Wait and see (confirm with a full year of 2026 transactions) | Transaction counts and unit prices from Q2 2026 onward |
| Takanawa | In line with the ward overall, but the wide range of building ages means large property-to-property differences | Choose individually (distance to the station, building age, management quality) | Whether the building was granted its building confirmation before June 1981 (pre-1981 "old seismic standard"); how it sits relative to nearby redevelopment plans |
| All three districts | Be wary of any property whose yield math only works if you assume premium rents from foreign tenants | Consider passing | Actual contracted rents for the same building and a comparable floor-area band |
Take, for example, a roughly 20-year-old, 75 m² unit in Konan priced around ¥130 million. That price band is essentially the Konan median for 2025 onward, so you are not paying a redevelopment premium. On the other hand, that building age is also when major repairs tend to come due. We think whether the repair-reserve fund is adequately funded matters more to your net proceeds than redevelopment headlines.
If you plan to rent it out, factor in the 847-unit rental supply
TAKANAWA GATEWAY CITY RESIDENCE supplies 847 units of luxury rental housing built to also suit expats. Because its unit sizes span roughly 43 m² to 580 m², it directly competes with owners who plan to rent out larger Konan or Shibaura units to foreign tenants.
For example, if you plan to lease a roughly 60 m² Shibaura unit to a foreign corporate tenant, it is safer to set rent on the assumption that you'll be compared against a brand-new, station-connected residence. We recommend estimating rent conservatively from comparable recent contracts and budgeting for a longer vacancy period. If you're reviewing rent assessments or cash flow for a property in Takanawa, Konan, or Shibaura, please consult INA&Associates Inc.
For owners considering a sale
2025 unit prices are substantially higher than 2023 across all three districts. For owners considering a sale, today's level is meaningfully useful as a reference point.
That said, 2026 so far has only a provisional Q1 figure, and more transactions will be layered in over the coming months, so the overall trend is not yet clear. We recommend setting an asking price against recent, comparable sale prices for the same building and a similar floor-area band, rather than simply anchoring to the district-wide median.
The Takanawa Gateway redevelopment is not a blanket reason for nearby condo prices to rise uniformly. Comparing like-for-like districts and building ages, and judging whether a property is one you can hold for the long term, is the shortest path to avoiding a costly mistake. If you'd like help comparing a specific property, please feel free to contact INA&Associates Inc.
Frequently Asked Questions (FAQ)
Q1. Did nearby condo prices rise because of the Takanawa Gateway redevelopment?
A. The median price per m² for nearby resale condos did rise from 2023 to 2025, but this cannot be attributed to the redevelopment alone. Over the same period, Minato Ward's overall median price per m² also rose +29.2%, and Takanawa itself — the district where the project opened — grew more slowly, at +16.2%.
Q2. Can you buy a unit in TAKANAWA GATEWAY CITY RESIDENCE?
A. No, it cannot be purchased. It is a luxury rental residence with JR East Group entities as the landlord. It has 847 units in total, 44 floors above ground and 2 below, and opened alongside the grand opening on March 28, 2026. If you want to buy nearby, existing condos in Takanawa, Konan, Shibaura, and similar districts are your options.
Q3. Did Shibaura condo prices fall in 2026?
A. It cannot be judged as a decline. Shibaura's median price per m² in Q1 2026 was ¥1,845,000, but that is a provisional figure from only 38 transactions, and more will be added later. The trend should be checked once a full year of 2026 transactions is available.
Q4. Will redevelopment continue around Takanawa Gateway?
A. Yes. JR East says it will keep advancing the district together with the Shinagawa Station North Entrance improvement and the Shinagawa Station district, and the on-site preservation and public opening of the Takanawa Chikutei embankment is targeted for Spring 2028. The Shinagawa Station North District redevelopment received its city-planning decision in October 2022.
Citations & References
- East Japan Railway Company, "TAKANAWA GATEWAY CITY" PR Office, "TAKANAWA GATEWAY CITY Holds Its Grand Opening Today! The Greater Shinagawa Area Goes Into Full Motion!" (March 28, 2026)
- East Japan Railway Company, "A Luxury Rental Residence Arrives at TAKANAWA GATEWAY CITY in Spring 2026 – TAKANAWA GATEWAY CITY RESIDENCE" (October 1, 2025)
- TAKANAWA GATEWAY CITY official site, "About Takanawa Gateway City" (accessed September 2026)
- Marriott International, "JW Marriott Hotel Tokyo: Anniversary Promotion Celebrating Its First Year" (September 11, 2026)
- Tokyo Metropolitan Bureau of Urban Development, "Shinagawa Station North District (Union-Executed)"
- Ministry of Land, Infrastructure, Transport and Tourism, "Real Estate Information Library"
