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An apartment that is believed to be the most expensive one-bedroom property in the world is on sale in Tokyo with a price tag of a cool Y1.8 billion (￡14.72 million).

The House Minami-Azabu is spread over more than 4,430 square feet of a condominium building in the Minami-Azabu district of west Tokyo and is being sold by Japan Sotheby's International Realty. The price means that 1 square foot of the property costs ￡3,320.33.

The owner of the penthouse apartment – whom Sotheby's would only identify as a successful and married businessman – spent 18 months completely refurbishing the property from a four-bedroom family home.

Stone and wood imported from Italy has been used for the walls, flooring and doors, a Japanese "ryotei"-style dining room is designed specifically for dinner parties where the chef can serve guests directly from the kitchen.

A separate "casual" dining room has a Parisian-style terrace overlooking the neighbouring park. The bedroom includes an expansive walk-in closet, while the bathroom incorporates a hot-tub and a 60-inch television.

The storage for shoes in the entrance has space to accommodate 200 pairs of shoes, but the focal point of the property is the courtyard with a surrounding lounge area where guests can "enjoy the charming seasonal garden".

"We have been quite surprised at the interest that has been shown in the property so far," Mika Takemura, of Sotheby's, told the reporters.

"We did not think we would get many inquiries at that price or with only one bedroom, but there have been several couples who have inquired about it," she said, adding that international businessmen who have to spend a couple of months in Tokyo every year have also expressed interest.

The company will not name the interested parties but Takemura said that they include "famous people in the business world".

The owner of the property is also selling off two more exclusive properties. A three-bedroom family home on the beach at Hayama, 90 minutes south of Tokyo and the summer residence of the Imperial Family, is on sale for Y1.3 billion (￡10.63 million), while a vacation home in the mountain resort of Karuizawa is on the market for Y550 million (￡4.5 million).

(Read by Brian Salter. Brian Salter is a journalist at the China Daily Website.)

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(Agencies)