Core Viewpoint - The prices of second-hand apartments and buildings in central Tokyo continue to rise, particularly in areas undergoing urban renewal, indicating a strong investment opportunity in these regions [1][3]. Group 1: Urban Renewal Areas - Key districts experiencing significant price increases include Shinagawa, Takanawa GATEWAY, Shibuya, and Shinjuku, driven by large-scale urban renewal projects that enhance commercial facilities and improve the overall street environment [1][3]. - In the Takanawa area of Minato Ward, 55 out of 64 surveyed second-hand buildings saw price increases, showcasing the impact of urban renewal on property values [3]. Group 2: Specific District Analysis - **Shinagawa District**: The area around Shinagawa Station is undergoing extensive urban renewal, with new commercial facilities and high-rise buildings expected to attract more investment and residents, leading to further price appreciation [4]. - **Bayside Area**: The bayside regions such as Harumi, Toyosu, and Ariake are seeing improvements in infrastructure and living conditions, making them attractive for wealthy investors. The area's designation as a national strategic development zone suggests potential for future asset value increases [6]. - **Shibuya District**: Shibuya is undergoing a massive urban renewal project, with several landmark developments completed and more expected by 2027, revitalizing local commercial activities and enhancing property values [8]. Group 3: Investment Insights - The real estate investment market emphasizes early entry for maximizing returns, with previous investors benefiting from rising property prices and rental yields before the yen's depreciation [8]. - Current trends suggest that as the yen returns to previous exchange rates, it may present a new investment opportunity for discerning investors in Japanese real estate [8].