Hotel branded residences elevate standards of luxury holiday properties for affluent globetrotters
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 Co. Ltd. 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.
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. Ancient shrines and temples lie just on the property’s doorstep, and the emphasis on design, five-star services, outstanding amenities and architecture will attract discerning real estate investors seeking a unique holiday property.
Known internationally for its refined culture and glamour, Kyoto was historically the capital city of Japan for over one thousand years (794 to 1868). The Imperial Family originally resided in Kyoto until 1868 when the capital moved to Tokyo.
Set at the foot of the Higashiyama Mountains, Unit 122 in the Four Seasons Hotel Residences Kyoto reflects the city’s unique regal heritage and precious beauty. With a design that combines modern Japanese style and rich tradition, the unit’s luxurious facilities and five-star services elevate the ownership experience to new heights as a premier urban resort in the city. The beautifully preserved historic Higashiyama district is home to some of the city’s most iconic landmarks and UNESCO world heritage sites, drawing visitors from all around the world seeking a picturesque setting evoking the look of “Old Kyoto” when the city was Japan’s “Capital of Peace and Tranquility”.
The new owners of the residential suite can expect to own a sanctuary ideal for restorative getaways where the property’s traditional and elegant design aesthetic exudes a Zen charm. The suite is fully furnished, has dual walk-in closets, a well-appointed kitchen, and floor-to-ceiling windows offering vantage views of the Shakusui-en, a 12th-century historical Japanese pond garden. 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.
In addition to in-room dining options, there are two outstanding restaurants on the premises – One Michelin- starred Sushi Wakon, and The Brasserie serving French-inspired seasonal dishes with a local theme. For cocktails and refreshments, there is a modern Lobby Lounge and Bar, and Fuju Lounge, a traditional tea house where one can enjoy afternoon matcha tea alongside handcrafted delicacies, or champagne and Japanese sake in the evenings.
Florence Ang, Associate Marketing Director, List Sotheby’s International Realty Singapore said, “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.”
Sonny Saito, Sotheby’s Concierge Auctions’ Director of Business Development, APAC added, “This competitive auction opportunity for the ultimate collectible treasure in Kyoto is sure to excite buyers. Four Seasons’ residential suites are highly coveted all around the world by discerning affluent globetrotters, and the rare opportunity to own Unit 122 in Kyoto where such real estate gems are hard to come by makes this luxury auction extremely attractive. This opportunity symbolizes our growing commitment to the Japanese real estate market, and as an auction company, we look forward to working with real estate companies in Japan to offer and build upon this method of buying and selling, with even more luxury auction opportunities to come across greater Asia.”
Wholly owned and one of only 57 residences, Unit 122 in the Four Seasons Hotel Residences Kyoto is listed for USD6 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.
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