Tokyo is one of Asia’s most exciting and dynamic cities, and home to 14 million people. As the capital of Japan, it is the economic and political heart of the country. And it is also hosting the delayed 2020 summer Olympic games this year.

With such strong fundamentals, it comes as no surprise that demand for real estate in Tokyo remains bullish.

High-rise condominiums are extremely popular in Tokyo where buyer activity has been relatively unaffected by the Covid-19 pandemic. Low interest rates and tax breaks have helped sustain property demand during this period.

Contrary to the trend in major cities where there was an exodus to the suburbs during the pandemic, Tokyo has seen the reverse, with an increased demand for new developments in central locations as people look to reduce their commuting times.

In summary, Tokyo boasts a resilient and healthy property market.

 

Beautiful neighbourhood of Shibaura

Located in the Minato ward in the south of Tokyo is Shibaura, a beautiful neighbourhood located between the eastern side of the Yamanote Line train and Tokyo Bay.

Why did we choose this area for property investment?

Continue reading!

‘Shibaura’ has great investment potential and is expected to see further growth due to multiple ongoing redevelopment projects. It is also a beautiful and enjoyable place to live in with the stunning Rainbow Bridge, scenic canals, and a futuristic cityscape.

It is also well connected, being close to the busy Yamanote Line and the Mita subway station.

 

View from Tamachi Station

 

The famous "Keio University", a leader in education, research and medicine, is near Mita Station, making it popular with university students.

 

Keio University

 

Shibaura consists mostly of artificial islands created by the excavation of industrial canals in the early 20th century. It was developed into a residential and commercial area as early as the early 2000s, and many corporate headquarters are now located at the area.

 

Shibaura House

 

The thriving community has excellent living facilities including parks, schools and supermarkets. As a result, the bay area is now very popular with middle-, and upper middle-class buyers and renters.

 

Canal side

 

End of the Rainbow

Nearby, and adding to the district’s attractiveness, is the symbol of Tokyo Bay - Rainbow Bridge, a suspension bridge crossing the northern part of the Bay. It is located between Shibaura Pier and the Odaiba waterfront development in Minato.

 

Rainbow Bridge

 

Conveniently located along the road from Tamachi station to the Rainbow bridge is a vibrant scene of supermarkets, restaurants, and stores. Residents and visitors enjoy the attraction of the Shibaura Canal Festival every September and the beautiful blossoms of sakura flowers in Spring.

Shibaura South Port Park is a scenic marine park under the Rainbow Bridge, which can be enjoyed during the day or night. This is where many Tokyo residents come to enjoy the first sunrise of the new year on January 1 and the park has open spaces, benches and a sports plaza where you can play baseball and football.

 

Park (under the bridge)

 

Investment opportunity: Branz Tower Shibaura

Within this bustling and exciting district, Tokyu Land Corporation has developed

Branz Tower Shibaura, a high-end residential building located in Minato-ku.

Situated in the center of Tokyo, the development allows residents to gain easy access to vibrant Shibuya, Ginza Shopping area and Otemachi, Shinbashi Office area.

The freehold development consists of 32 floors and 482 exclusive apartments. The tower is also equipped with impressive facilities for residents including a crown terrace, crown lounge, fitness studio and guest rooms.

With these facilities and its excellent location in one of Tokyo’s up-and-coming districts, Branz Tower Shibaura is sure to be a highly sought-after private residence this year.

And with Tokyo back on the global stage again this year as it hosts the summer Olympics, the timing couldn’t be better.

 

 

To find out more about this exciting development join our live webinar

‘Let’s Talk Property: Spotlight on Tokyo’ on Thursday, 15 April 2021 at 6pm.

Register here

 

We will talk about the Tokyo property market, the impact of redevelopment in Shibaura and also introduce Branz Tower Shibaura to the Singaporean investors.

Contact JLL directly for more information:  +65 9671 9583 / internationalresi@ap.jll.com

 

31 Mar 2021

Shortage in supply of new-built condominium pushes up demand in resale market

The sustainable growth of the Japan property market has been supported by a steadily growing population in the metropolitan areas. As such, the shortage in supply of new-built condominium is leading more people to turn their eyes towards relatively new condominiums in the resale market.

The Japanese traditionally favour new-built housing, but recent trends tell us that there has been a change in people’s perceptions towards the age of a building or property. In this report, we will look at more insights from the recent trend in the resale market.

 

Demand for housing remains strong

The population growth in metropolitan areas like Tokyo have been showing a steady increase. COVID-19 has changed our living and working styles in various ways, but the impact on housing demand is limited. Market observers commented that more people from the city central areas are moving to spacious houses in countryside when working from home (WFH) was being introduced during the state of emergency in April 2020. Indeed, according to the survey by Tokyo Shoko Research survey, 56% of companies adopted WFH at the time. However, in August, the number of companies who continued to WFH was reduced to 34.40%.

 

Survey on Working From Home 2020

 

Large companies have higher adoption rate of 61.31%, which is almost double that of mid-to-small size companies.

 

 

Participant Rate of Working From Home - Aug 2020

In terms of participant rate, majority of large companies responded that no more than 30% of their employees adopted WFH. Even so, majority of these employees WFH only partially, i.e. biweekly or a few days in a week. Therefore, relocating to countryside is not a practical option for the majority, as commuting to work is still required and thus good connectivity remains important.  

Looking at the demographic movement in Tokyo, COVID-19 did affect the population movements, but not to the extent to call it as a population outflow. Indeed, demography by nationality showed the decrease in population was largely contributed by foreign residents returning to their countries. As of August 1, Japanese population has increased by 58,114 comparing with January, while foreigner population has reduced by 4%.

 

 

In the long term, population growth is still in an upward trend.  If we look at the population growth oOn year –on- year basis, the Japanese population remains in healthy growing trend compared to last year. Therefore, the impact of COVID-19 on population growth is limited to the foreigners which attributes to a short-term factor and has not affected the long-term growth greatly.

Here I would like to highlight that in the long-term, population is growth has not been affected that much. Though there wasn't the regular April population growth due to state of emergency, but population is still in growth trend, so COVID-19 didn't hinder the population growth much. Y0Y basis, it is still in growing trend 

 

Fortunately, real estate sales activity has sprung back to what it used to be before COVID-19. There is still a great demand for condominiums from the local owner-occupiers and the decrease of foreigners do not seem to affect sales. When businesses resumed after the state of emergency, local buyers started actively looking for housing like before. On year-on-year basis, there were even more transactions in the resale market in August 2020.

 

Shortage of supply in new-built condominiums

In recent years, the supply of new-built condominiums in Tokyo has been decreasing, despite the growing population and housing demands. The choice limitations turned buyers to the resale market for secondary alternatives. Land acquisition has always been very competitive in the already developed central areas in Tokyo. As city urbanization continues, the shortage of supply in new-built properties is expected to push up the demands of resale apartments.

The next graph shows the transaction volume of resale versus new-built properties in Tokyo 23 wards over the past ten years. The transaction volumes of resale market showed a gradual increase, while the new-built condo supply slowed down after 2013.

Properties below 20 years are actively sought after

New-built housing has always been the most preferred option for Japanese, because historically, houses in Japan were built by wood. It was believed that the newer the house, the better would be its durability. However, the situations are different today. With fewer new-built options and the advancement of superior construction qualities, resale apartments are generally now more accepted.

As more buyers opt for resale markets as a substitute for new-built apartments, it resulted in most transaction volumes concentrated in the relatively new buildings with age below 20 years. In terms of the transaction ratio against the supply, the buildings aged between 6 to 10 years show the highest demand last year, followed by those of 11 to 15 years, 16 to 20 years and 0 to 5 years.

 

Recommendation is up to 15 years old

The observations showed that the highest transaction volume is for resale properties within 20 years old. Therefore, investing in property below 15 years is the best recommendation when we consider the exit timing as well. Although buildings of 20 years old may sound “old” for overseas investors, the locals feel differently. Traditionally, the Japanese adore new-built properties, but more people are now realizing that the construction qualities after the turn of the millennium have become excellent to provide strong durability. This is especially so for properties from established developers which are well-maintained in very good conditions, that makes  little difference when compared to the new-built ones.

Many Japanese developers have their own prestige brand names for their condominiums. Therefore, they put in their utmost efforts in maintaining their quality and reputation. Often, the building management is by developer’s subsidiary company so as an assurance that the same brand quality will be achieved.

Because of the superior construction quality, it is unlikely that owners of such condominiums will need to pay substantial amounts for maintenance in the first 10 years. That is why many property management companies offer guarantee plans that cover minor repair costs, as there is not much expense expected during that timeline.

After the first decade, some replacements of appliances like air-cons, dishwashers, water-heaters may be required due to service lifespans, but in general, the properties will look no inferior to new-built ones and are equally competitive in the markets.

 

Property price continues to grow in prime locations

Both resale and new-built condominiums in Tokyo have been on a steep price growth since 2013. The growth until 2016 were largely affected by the great expectations towards Tokyo Olympic game, which has brought significant impacts on the property markets not only in Tokyo central, but also to surrounding areas. The growth in the most recent years was due to more sustainable and rational factors. Good connectivity, prime locations, redevelopment and superior quality apartments are enjoying appreciation, whereas those properties without these factors are being left behind from the continuous growths.  

The demand for a good property in terms of quality and location is expected to remain strong in central area, as working in office is still a daily norm for majority. The shortage of new home supply will continue, as land acquisitions will remain competitive in prime locations, which in turn will push up values of the existing good properties. It is therefore a good opportunity to widen your options to consider resale properties with strong growth factors.

Back in 2013, almost any property near Tokyo could have price appreciation, but now, the real "good" property can continue to grow.  

 

 

For more details you may contact JLL International Residential at +65 9671 9583 or internationalresi@ap.jll.com

 

 

19 Nov 2020

Our working lives are becoming more flexible and many more people now have the opportunity to work from home on a regular basis. This was a trend before Covid-19 and has now accelerated as employees are given the freedom to work more from home.

Others who are self-employed or run their own business may choose to work from home permanently, along with freelancers and those working in the gig economy. This means that more and more of us are using our homes as offices.

Soho apartments are considered value for money given their sought-after city locations and combined usage as a comfortable living and working space.

Watch our webinar to learn more about SOHO apartments in Japan.

03 Sep 2020

A series of global events that should have positive impact on the real estate market such as G20 Osaka summit and prospective IR development are aligned up to the 2025 World Expo, gathering attention from around the world. Osaka is experiencing a golden opportunity to attract domestic and foreign investment.

JLL Japan’s head of international residential Kentaro Sato believes that Osaka’s high-rise market is a prime area for those looking to expand their investment portfolio.

“In central Osaka, the condominium market is doing well. One of the reasons is that the units are not that expensive in terms of price per sq ft.
If you compare with condos in Tokyo, Osaka’s are priced 60% lower. So, it is still at a reasonable level,” says Sato.

 

Similar to big cities such as Tokyo and Fukuoka, Osaka is experiencing urbanisation. So many people from the surrounding areas, including Kobe and Kyoto, are moving to the city, he continues.

From 2017 to 2019, condo supply increased 95% and the price index improved 103%, according to data provided by Sato. Moreover, the city’s population grew 101%, from 2.713 million to 2.74 million, and rent rose 105%.

The yield is higher [in Osaka] than Tokyo because Osaka is the second largest city or economic zone in Japan.

“The other reason to invest here is that Osaka is expected to have an integrated resort (IR) project. That is probably the main driver that has increased the interest of foreign investors,” he says.

In 2018, the IR Bill was passed in Japan, allowing for an IR with casino in up to three cities. It will take another year for the selection of the cities to be completed, but Sato says Osaka is highly favoured to be chosen. It is estimated that one IR with casino will generate 97,000 new jobs.

Meanwhile, there is a limited supply of residential properties in Osaka, as there are developers that buy land to build hotels, he explains.

Owing to this competition for land, the supply of condos is expected to be controlled, leading to the units’ values holding, he adds.

Sato points out that infrastructure improvements to rail lines to the reclaimed island where the proposed IR will be located as well as to Kansai International Airport will also increase interest in and demand for properties in Osaka.

Furthermore, the completion of the Umekita Station in 2023 and the Naniwasuji Line in 2031 are expected to shorten the travel time between Osaka Station and the Kansai International Airport by as much as 30 minutes, benefiting the investment environment.

Established in 2000, Keihan Real Estate is a subsidiary of Keihan Electric Railway Co Ltd, which was founded in 1906.

The holding company developed the railway links between Kyoto and Osaka, and engaged in property development along the railway line it set up.

After some company restructuring, the real estate division was established and it developed and sold about 2,500 condominium units in Osaka city between 2014 and 2018.

Keihan Real Estate representative Mayuko Takahashi says in an email interview that the vision of the Keihan Group appears in the phrase “global Keihan Group”.

“The goal is to welcome customers from around the world with a global perspective and to develop business across Asia,” she says.
“We have been selling our properties mainly in China, Hong Kong and Taiwan for about five years. This experience has helped us develop products based on the opinions of overseas customers.
So far, we have developed products that satisfy not only Japanese but also overseas customers, and to continue making progress, we decided to sell in Southeast Asia.”

Its latest project, The High Horie, is located in Nishi-ku, Osaka. According to Takahashi, it is a popular residential area with a young population, which is forecast to increase.

Within the vicinity of The High Horie are amenities such as a hospital, a library, supermarkets, schools, parks and fashionable high-quality shops. The nearest metro station — Nishinagahori — is a minute’s walk away.

“This project is planned mainly for people living in the city centre such as singles, DINKs (double income, no kids) and those living in multiple residences or need closer access to their workplace,” says Takahashi.

“In addition, we have designed common spaces and services that will support SoHo (small office/home office) use with the increase in remote work and side businesses, owing to the work-style reform in Japan.”

In recent years, the government has been reforming workplace practices. These include encouraging people to have side or multiple jobs.

To cater for this new type of worker — who either is a freelancer, is someone who works from home or has his or her own small business — Keihan Real Estate created this SoHo product.

 

The High Horie occupies a 1,014.27 sq m parcel and has an estimated gross development value of ¥6.5 billion.

The 12-storey project will have 141 units with three layouts — studio (22 units), 1-bedroom (105 units) and 2-bedroom (14 units). The built-ups will range from 325 to 798 sq ft, with a starting price of ¥27.9 million.

There is an option for a guaranteed rental scheme for investors. Open for sale now, The project is expected to be completed next January.

 

A unique feature of the development is that each unit can be registered as a business address, which owners of regular condos in Japan are not allowed to do.

Among its facilities will be two common areas — a lounge area on the ground floor for residents and/or business owners to have open meetings with clients or guests, and a space with private meeting rooms.

The design of the units also differs slightly from that of typical Japanese high-rise developments.

“A typical Japanese condo has a ceiling height of 2.4m to 2.6m while this project’s units will have a ceiling height of 3m to 3.55m. By providing a higher ceiling, it would be possible to partition the space not only vertically but also horizontally into lofts and storage spaces,” explains Takahashi.

The additional space would allow people to live and work in the same place. “This flexibility, along with the shared facilities, will enable small businesses or freelancers to conduct their business in the same space without having to meet clients or guests elsewhere and incur additional expenses”, she adds.

 

To ensure that Osaka remains in the minds of local and foreign investors, Keihan Real Estate plans to develop more projects in the city.

“In the Kansai area, we plan to develop projects mainly in the six wards of Osaka city. Besides The High Horie, we also plan to build a tower project in front of Osaka Castle’s Otemon Gate as well as a tower project in the bay area, which has attracted attention, owing to the 2025 World Expo and the proposed IR,” says Takahashi.

For more information on The High Horie and or anything else that you'd like us to clarify, contact JLL International Residential at internationalresi@ap.jll.com, or +65 96719583 (Whatsapp/SMS/Call)

 

This article was originally published by The Edge Malaysia, Author: Wong King Wai

24 Aug 2020

Tokyo’s bay area ‘Shibaura’ has great investment potential and is expected to see further growth due to multiple redevelopment projects. Learn more by watching the recording from our webinar.

We were discussing about the impact of redevelopment in Shibaura and introduced Branz Tower Shibaura, one of the latest projects by TOKYU LAND CORPORATION.

Branz Tower Shibaura is a high-end residential located in Minato-ku, developed by TOKYU LAND CORPORATION. The freehold development consists of 482 exclusive apartments and is located near Tamachi Station and with JR Yamanote Line still in the pipeline. Situated in the center of Tokyo, the development allows residents to gain easy access to vibrant Shibuya, Ginza Shopping area and Otemachi, Shinbashi Office area.

The 32 floors height tower also equipped with fascinated common facilities including crown terrace, crown lounge, fitness studio, guest room etc.

 

For further information about BRANZ TOWER SHIBAURA and Japan’s investment opportunities , please and contact JLL International Residential directly at +65 9671 9583 or internationalresi@ap.jll.com

18 Aug 2020

Given how unique and trendy they are, Soho apartments are proving popular with buyers. They are ideal for those who want to work from home, along with urbanites who enjoy city living.

 

So what exactly is a Soho apartment?

The term stands for Small Office, Home Office (Soho) which highlights perfectly their dual use of being a comfortable place to live in while also providing plenty of space to work in.

Feature-wise, Soho apartments tend to have high ceilings similar to loft-style apartments. With this generous vertical space, you can customize your living and working areas according to your needs and likes. Some buyers install platform beds high up and have their office space below.

 

Why are they so attractive?

Our working lives are becoming more flexible and many more people now have the opportunity to work from home on a regular basis. This was a trend before Covid-19 and has now accelerated as employees are given the freedom to work more from home.

Others who are self-employed or run their own business may choose to work from home permanently, along with freelancers and those working in the gig economy. This means that more and more of us are using our homes as offices.

Listen to our podcast to find out more about how this trend is taking shape (click here to listen)

A Soho apartment offers the best of both worlds. Ample working space and the flexibility of being able to live there too. They are also attractive to urbanites – people who enjoy living in or very close to the city centre as most Soho apartments are built in these areas. Having the city on your doorstep and all its amenities like shopping malls, cinemas, bars and restaurants can be hugely appealing.

 

Why buy one?

Soho apartments are considered value for money given their sought-after city locations and combined usage as a comfortable living and working space.

Plus, having that vertical space gives you a unique opportunity to get creative. You may want to install full-length wall bookshelves with rolling ladders. Or you could put in wall mounts to hang up your bikes to save floor space. You could even set up a projector screen on one of the high walls for home movies.

Another attraction to Soho apartments are the facilities normally included within the development. These range from private meeting rooms and lounges, which makes life even easier for you whether you are working, playing or socialising.

Widya Lesta, Head of International Residential, Singapore, said: “Soho apartments are really hitting the sweet spot right now given the rising number of people who are using their homes as offices. It is a trend that is likely to be long term as the future of work changes and becomes more flexible.”

 

Where are they being built?

While Soho apartments and loft living are normally associated with New York’s Manhattan district, this popular property type has now popped up in virtually every major city across the globe. In Asia, Soho apartments are proving a big hit with young people, urbanites and those who are part of the gig economy – working flexible hours and locations.

In Japan, we are working with property developer Keihan Real Estate which is building a 12-storey residential development in Osaka’s trendy Nishi district. It will include studio apartments, one-bedroom and two-bedroom units and should be completed by early 2021. Osaka is one of the fastest growing cities in Japan but average property prices are about 30% cheaper than in Tokyo.

 

If you want to know more about Soho apartments and buying opportunities, please register for our webinar on 24 August 2020 at 5pm

 

Email: internationalresi@ap.jll.com, JLL International Residential Business Line: 96719583 (Whatsapp/SMS/Call)

12 Aug 2020

Branz Tower Shibaura is a high-end residential located in Minato-ku, developed by TOKYU LAND CORPORATION. The freehold development consists of 482 exclusive apartments and is located near Tamachi Station and with JR Yamanote Line still in the pipeline. Situated in the center of Tokyo, the development allows residents to gain easy access to vibrant Shibuya, Ginza Shopping area and Otemachi, Shinbashi Office area.

 

The 32 floors height tower also equipped with fascinated common facilities including crown terrace, crown lounge, fitness studio, guest room etc.

 

Condominium, Branz Tower Shibaura, Minato, Tokyo

 

Redevelopment around Shibaura, Minato-ku

 

10 Jul 2020

Tokyu Land is bringing more than 1,100 apartments and residential amenities to Tokyo's inner-city island.

 

Tokyo 2020

The eyes of the world will be on Tokyo in 2020 when the Olympic Games bring an expected 40 million visitors and huge media interest to Japan's capital.

For overseas property investors, the extensive urban redevelopment spurred on by the events and foreigner-friendly economic reforms have opened up the world's third largest economy like never before.

Excellent business facilities and infrastructure and simplified tax, visa and ownership regulations are making Tokyo a competitive alternative to other global cities for real estate investment.

Demand for property in Tokyo is at an all-time high – not only from overseas buyers, but also due to the increasing domestic migration of professionals and students into the capital.

Developers are striving to meet this demand with a steady supply of projects entering the markets in desirable locations.

While Tokyo's “once-in-a-century” regeneration is primarily focused on the central business districts, there's also heavy investment in improving infrastructure and amenities in outlying wards.

This includes new commercial and residential developments on Toyosu, a man-made island in Tokyo Bay that's home of one of Tokyo's largest shopping malls and the world's largest fish market.

 

Shop and play by the bay

Toyosu was purpose-built in the 1930s as a residential, retail and recreation district in East Tokyo. Home of the first 7-Eleven convenience store in Japan, the reclaimed island has always been a popular excursion for Tokyoites.

Today, it attracts visitors from all over Japan and further afield with some of the capital's best shopping and family-friendly entertainment, set against the tranquil backdrop of Tokyo Bay.

Since October 2018, Toyosu has been the new home of the former Tsukiji fish market – now called Toyosu Market and almost twice the size of its predecessor. Customers and interested onlookers can attend the lively bidding sessions for fresh fish, seafood and fruit and vegetables across three connected buildings. These also include a retail area with more than 70 stores and restaurants serving the freshest catches.

Nearby LaLaPort shopping mall has been a popular haunt for retail therapy since the 1980s, featuring more than 200 stores including Banana Republic, Gap, a Disney Store and a Pokemon Center. There are also diverse eateries, a cinema and the Kidzania theme park, where children can play grown-up and gain experience of various professions including pilot, doctor and chef.

Other family-friendly attractions in Toyosu include the educational Gas Science Museum and Planets virtual reality experience, while local parks offer plenty of wide open spaces for sports, picnics and barbecues along the waterfront.

 

Well-connected property

Toyosu Station offers easy access to the rest of Tokyo via the Metro Yamanote Line and elevated Yurikamome train, departing every few minutes.

Tokyo's central wards can be reached in less than 10 minutes, soon to be made even faster when the Bus Rapid Transit (BRT) service begins by 2022. Haneda Airport can be reached in 45 minutes on the Metro or 40 minutes by limousine bus, while the Tokyo Water Bus offers a scenic alternative for travelling between Odaiba and Asakusa.

Residential property in Toyosu consists of limited apartments and condominiums. The newest to launch on the overseas property markets is Branz Tower Toyosu, a residential precinct more than 250,000 square feet in size that includes a supermarket, child care center and green space, dominated by a 48-story tower.

 

 

Branz Tower itself will be a new landmark of the island, designed by architect Shuji Okumura to resemble a sturdy tree of white and glass. The nature theme continues inside with cherry, cypress and maple palettes for bedrooms and water features setting the mood for relaxation at the end of a busy day.

The tower will include a choice of one, two or three-bedroom apartments ranging from 467 to 2,367 square feet.

Residents can also access exclusive amenities including a Sky View Lounge, recreation room, co-working areas and fitness facilities, with a concierge service available in the lobby to take care of requests.

A total of 1,152 apartments are available at Branz Tower Toyosu, which is expected to complete construction by October 2021.

 

 

15 Nov 2019

Photo by Tomohiro Ohsumi/Getty Images)

 

These days it's not just the world's most famous capital cities looking outside their national borders for growth.

 

More cities around the world are aiming for space on a global stage long reserved for hotspots like New York, Tokyo and London, with investment and growth seen as the rewards for thinking big.

Take Osaka, Japan’s second-largest city, and often ranked among the world’s most liveable.

 

The city region of over 19 million people is gearing up to host the World Expo in 2025, with major developments projects underway in preparation.

 

“Osaka is one of Japan’s most important cities, but what we’re seeing is an effort to extend its reach internationally,” says Jeremy Kelly, head of JLL Cities Research.

“With its rapidly growing visitor economy, as well as high profile events like the G20 and Expo 2025, Osaka is currently experiencing the first cycle of globalisation by building its international reputation.

 

Cities like Osaka play crucial roles in their domestic economies. Now, they are looking outside their own borders, according to JLL research. Other examples include Atlanta and Buenos Aires, the data show.

There’s a major driver working in favor of up-and-coming urban areas: people, companies and investors hunting for less-expensive options that still tick the right boxes, from culture to innovation.

 

Osaka on the world stage

Stacked in its favour is the fact that Osaka is the eighth-largest metropolitan economy in the world, ahead of Paris and London.

“It’s a major city with huge influence in the Japanese economy, but arguably lacks international visibility, influence and integration into truly global networks of capital flows,” Kelly says.

There are already signs this is changing. Ahead of the 2025 Expo, a plan was recently approved to turn part of an artificial island into a commercial area, including a theme park and, contingent on obtaining a license, a casino.

 

People walk through the Shinsekai area in Osaka. (Photo by Tomohiro Ohsumi/Getty Images)

 

The city is already a tourist magnet, as Japan’s fastest-growing destination for visitors. Last year, foreign tourists to Osaka totalled 11.42 million, a record high for five years running, according to the Osaka Convention and Tourism Bureau.  

 

Developers are playing catch-up as hotel and restaurant construction rose six-fold during the same period. To continue attracting more travellers, Kansai Airport this year announced a US$911 million expansion to upgrade its facilities and boost capacity.

 

Joining the cool club

Key to success will be creating greater buzz. It could take a leaf from cities such as Melbourne and Copenhagen in that regard, Kelly says.

“Osaka needs to create a clear global brand in its second phase of globalisation, much like how Melbourne and Copenhagen are known for their lifestyle elements such as cuisine, design and well, being ‘cool’,” he says.

“Alternatively, it can go the route of Barcelona and Vancouver to build its reputation around other strengths such as environmental sustainability or smart mobility,” he says.

 

Relative strengths

Osaka out-performs Tokyo in terms of liveability, ranking fourth in The Economist Intelligence Unit’s Global Liveability Index this year, compared to the capital’s seventh position.

 

Osaka consistently fares well for liveability due to its compact size, organised urban planning and connectivity and its lower cost of living.

Its railway station density is better than Tokyo’s – it has 1.12 station every square kilometres compared to the capital’s 1.02. It also scored lower than Tokyo in terms of the Regional Difference Index of Consumer Prices, which includes rent and food.

 

On top of that, Osaka is pushing hard to boost its technology and start-up scene with the development of Umekita Phase 2, a key site beside Osaka Station that the government plans to attract bio-tech and pharmaceutical firms to set up shop in.

The first phase also involved the completion of shopping mall Grand Front, which is home to several innovation-centric organisations such as Osaka Innovation Hub and a prototyping lab.

A direct rail link between Umekita and Kansai Airport is another boost to the city’s efforts to position itself as a business hub.

These initiatives aside, Kelly feels Osaka can make better use of these new developments to position itself as a contrast to Tokyo.

“Osaka is already known among travellers for being a gateway to historical cities, Kyoto and Nara. There is a chance for Osaka to reinvent itself beyond that and set a new direction for itself.”

 

20 Nov 2019

Mitsubishi's latest project welcomes buyers and investors to one of the world's most stunning Sakura viewing spots.

 

As Tokyo gears up for the 2020 Summer Olympics, property buyers and investors can see major real estate developments happening in the city. 

For instance, Shibuya Station will be surrounded by high-rise buildings once the 2020 Olympics rolls around.

Additionally, Tokyo’s most famous meeting place, Hachiko Square, will be expanded 1.5 times

Shinjuku, home of the world’s busiest train station, is experiencing a facelift in the last couple of years as the government plans on building more family-friendly tourist spots and new towers on the west side.

The surrounding area around the new JR Yamanote Line Station is due for redevelopment including seven commercial buildings, comprising of both office towers and apartment.   

It’s no wonder, Tokyo's residential prices have been steadily on the rise.  

 

A 2017 report from Land Institute of Japan shows that existing average prices for condominium units jumped 3.1% during Q1 of 2017.

Meanwhile, the average sales price for a newly constructed condominium in Tokyo remains high according to Real Estate Economic Institute's 2019 forecast.

One of the latest and appealing condominium project for foreign buyers and residents is The ParkOne's Meguro Fudomae by Mitsubishi Estate Residence Co., Ltd.

 

Home of the Famous Hanami (Cherry Blossom) Walk

 

 

Residents, as well as property investors, will enjoy this peaceful residential complex which is close to Meguro River – one of the most famous Sakura viewing spots in Tokyo.

Lining on either side of the Meguro River is over four kilometres of cherry blossom trees.

From there, you can have a relaxing riverside walk or enjoy hanami parties at night after work.

You can find shops, bars, and restaurants along the river plus food stalls to keep your food cravings satisfied.

 

 

For those who wish to explore the rest of Tokyo, The ParkOne's Meguro Fudomae provides easy access to 2 Metro lines and 1 JR line.

Fudomae station is only 1-minute walk away from the building. The station is so close, anyone who steps out of the ticket gate can instantly see the condominium!

From there, it's just an 8-minute ride to Shibuya district and Shinagawa Office area.

 

 

Meanwhile, a 14-minute walk brings you to the Meguro station on JR Yamanote Line.  

For domestic and international flights, Haneda Airport is only 20 minutes via metro while Narita Airport is about 80 minutes.

There are supermarkets, clinics, banks, and government offices surrounding the peaceful neighbourhood.

For families with young children, the Daiyon Hino Elementary School is just around the corner.

 

Tokyo's Prime Investment Opportunity Awaits You

 

The ParkOne's Meguro Fudomae was designed by architect Watanabe Jun with emphasis on large spaces and individuality.

This 6-storey building offers studios, 1 and 2 bedroom units.

There are 7 different floor plans to choose from ranging from a “D” type unit that features a kitchen plus a walk-in closet to an “S” type unit which has 2 walk-in closets plus a lavatory, a dressing room, and a kitchen.

A studio type starts at 277 sq. ft., 1-bedroom unit at 390 sq. ft., and the 2-bedroom unit at 590 sq. ft.

The entrance to the project features a quiet reception area and an entrance hall wrapped in soft light – a stark contrast to the hustle and bustle of metropolitan Tokyo.   

 

 

The 87-unit project feature an inner corridor to keep residents comfortable during winter and rainy days.

The corridor also enhances security and privacy as it blocks out-of-sight.

For safety, a 24/7 security system provides emergency response to sudden damage to buildings and facilities.

Each unit comes with a heat detector in case of fire and a window open/close sensor against intrusion.

The project comes with a 10-Year building warranty from its completion.

The ParkOne's Meguro Fudomae will welcome its new residents by mid-December 2019.

Serious buyers who wish to take advantage of the weakening Yen, Japan's low-interest rates, and Tokyo's affordable property market will find The ParkOne's latest project a must-have investment.

 

For more details about this property, you may attend JLL's exhibition in Singapore.

 

Details:

13-14 April 2019 (Saturday & Sunday)

11 am - 7 pm

Hilton Singapore, Philippines Room

 

RSVP NOW

 

For more details about The ParkOne's Meguro Fudoame, you may contact JLL International Residential at +65 6220 3888 or internationalresi@ap.jll.com.

 

 

10 Apr 2019