There is now a new way to buy or sell trophy real estate in Southeast Asia. Sotheby’s Concierge Auctions, in cooperation with Florence Ang, an associate of leading luxury real estate brokerage List Sotheby’s International Realty (List SIR) Singapore, is putting the spotlight on a luxury auction next month that will showcase an exceptional private retreat in Kyoto, Japan.
Sotheby’s Concierge Auctions is set to auction Unit 122 in the Four Seasons Hotel Residences Kyoto from 13 to 20 April 2023 with No Reserve to the highest bidder, in cooperation with listing agent Naoko Yamaguchi of Nomura Real Estate Solutions Company. Unit 122 (106 sq m) is a tranquil hideaway in the center of Kyoto, where residential properties are gaining popularity amongst affluent globetrotters scouting for good buys due to the weakened yen.
Wholly owned and one of only 57 residences, Unit 122 in the Four Seasons Hotel Residences Kyoto is listed for US$6 million by Nomura Real Estate Solutions Co. Ltd. The bidding will open on 13 April and culminate on 20 April. Bidding will also be available on Sotheby’s Concierge Auctions’ online marketplace, allowing interested buyers to participate digitally from anywhere in the world. Foreigners can buy property in Japan regardless of their nationality or country of origin. There are also no residency requirements for buying real estate in Japan.
According to a 2021 study by Real Estate Economic Institute Co. (REEI), real estate prices in Kyoto have seen a surge, up 28% (compared with 12 % increase in Tokyo). This can be attributed to a limited number of apartment units released for sale in Kyoto, where city guidelines prevent high-rise apartments above 31 metres in height from being built.
Sotheby’s Concierge Auctions is the world’s largest luxury real estate auction marketplace, and partners with realtors around the world to match sellers of one-of-a-kind homes with some of the most capable property connoisseurs on the planet.
Florence Ang, Associate Marketing Director, List Sotheby’s International Realty Singapore says, “We are seeing a surge in interest amongst our clientele to invest in the Japanese real estate market. Savvy buyers will be attracted to the prestige that comes with owning a branded hotel residence that offers elevated vacation experiences. There is huge potential for capital appreciation as foreign investors continue to buy up holiday properties in Kyoto, a city popular with tourists and yet relatively underpriced when compared with other metropolis cities like Singapore, Hong Kong, Shanghai and even Tokyo.”
Owners can choose to participate in a rental program and earn rental income when they are not using their property. Four Seasons will handle the management of the property and the entire booking process, offering a dedicated 24/7 concierge service. Guests staying at Unit 122 will have full access to all hotel amenities, including an indoor pool, two large whirlpools, a fitness gym and a luxurious spa where guests and residents can indulge in a traditional “ofuro” (hot bath) and other wellness treatments.