Branded Residences: A premium auction for investors seeking a distinctive vacation home 2023
In Southeast Asia, there is now a new option to acquire or sell trophy real estate. Next month, Sotheby’s Concierge Auctions, in collaboration with Florence Ang, an associate of renowned luxury real estate agency List Sotheby’s International Realty (List SIR) Singapore, will present a unique private retreat in Kyoto, Japan, at a luxury auction.
Unit 122 of the Four Seasons Hotel Residences Kyoto will be auctioned off by Sotheby’s Concierge Auctions from 13 to 20 April 2023 with No Reserve to the highest bidder in conjunction with selling agent Naoko Yamaguchi of Nomura Real Estate Solutions Company. Unit 122 (106 square meters) is a serene refuge in the heart of Kyoto, where residential properties are gaining favor with rich international buyers in search of bargains owing to the cheap yen.
Unit 122 of the Four Seasons Hotel Residences Kyoto, which is wholly owned and one of only 57 homes, is marketed for $6 million by Nomura Real Estate Solutions Co. Ltd. Bidding will commence on April 13 and conclude on April 20. Bidding will also be accessible on the online marketplace of Sotheby’s Concierge Auctions, allowing purchasers to engage digitally from anywhere in the globe. Regardless of nationality or country of origin, foreigners can purchase real estate in Japan. Also, there are no residence restrictions for purchasing property in Japan.
According to a survey conducted by Real Estate Economic Institute Co. (REEI) in 2021, real estate prices in Kyoto have increased by 28% (compared to a rise of 12% in Tokyo). This is due to the restricted amount of apartment units available for purchase in Kyoto, where city regulations prohibit the construction of high-rise residences over 31 meters in height.
Sotheby’s Concierge Auctions is the world’s leading luxury real estate auction platform, partnering with realtors across the globe to link sellers of one-of-a-kind houses with some of the most discerning property experts on the planet.
Florence Ang, Associate Marketing Director at List Sotheby’s International Realty Singapore, states, “We are experiencing a rise in customer interest in investing in the Japanese real estate market. The prestige that comes with owning a branded hotel home that delivers upgraded holiday experiences will attract savvy customers. Since international investors continue to purchase vacation homes in Kyoto, a popular tourist destination that is relatively inexpensive compared to other Asian megacities such as Singapore, Hong Kong, Shanghai, and even Tokyo, there is a substantial opportunity for capital gain.
While they are not using their property, owners have the option to enroll in a rental program and generate rental money. Four Seasons will oversee the property and the full booking process, delivering a specialized concierge service around the clock. Visitors staying in Unit 122 will have access to all hotel amenities, including an indoor pool, two big whirlpools, a fitness center, and a magnificent spa where they can enjoy a traditional “ofuro” (hot bath) and other health treatments.