Engaging with clients through regular exclusive events and sharing timely and relevant market information with them is one of several ways that List Sotheby’s International Realty Singapore adds value to clients.
More than 50 guests attended the second client engagement session of the year on 20 July. Hosted by their respective relationship managers, the guests were invited to attend the by invitation-only event which was billed as “Property Market Outlook: Singapore & Japan”.
Opening the session was Mr Leong Boon Hoe, Chief Operating Officer of List Sotheby’s International Realty, Singapore. After extending a warm welcome to the guests, he gave a brief introduction of the company and its links with two established brands, List Group from Japan and Sotheby’s International Realty (SIR) from the United States of America. As part of his introduction, Mr Leong also showcased the various marketing platforms offered by the company as part of the Sotheby’s International Realty network that could benefit anyone who lists their property with the company.
This includes having the properties promoted through a cascading network of websites such as those of other SIR international affiliates, major media powerhouses such as Wall Street Journal, Financial Times and the New York Times, and even being able to see their properties on Apple TV.
After a sumptuous buffet dinner, it was time to stimulate the guests’ minds as two speakers proceeded with their presentations that the guests came specifically for. The first speaker, Ms Han Huan Mei, Associate Director of Research at List Sotheby’s International Realty Singapore, brought people through the different cooling measures over the years since 1996 and the 8 sets of measures between 2009 to 2013 to the most recent ones that were announced by the Government on 5 July 2018.
The attendees learnt that more than 60 per cent of buyers in the Core Central Region (CCR) are foreigners and Huan Mei also gave updates on land prices in various districts including Orchard Road, Bukit Timah / Holland Roads as well as Amber / Meyer Roads where Amber Skye is located.
The second speaker was a special guest who came from Japan, Ms Yukiko Takano, Senior Sales Manager of List Sotheby’s International Realty, Japan. In her presentation, Ms Takano gave the audience a quick round up of Japan’s real estate market.
The second part of her presentation focused on locations with properties that were popular with foreigners either as investments or second/ holiday homes, and included places such as Niseko known for its ski slopes, heritage-rich Kyoto, Roppongi with its famous art meuseums, highly accessible Shinagawa and its high-class residential areas, Atami with its hot springs, Okinawa famous for its beaches and coral reefs and Omotsando –home to many flagship boutiques of some of Japan’s top designers as well as international luxury labels. She also captured the hearts of the audience by going back to every Singaporean’s favourite topic – food, by highlighting some of the hottest restaurants in those areas.
Japan Market Outlook
Japan’s economy remains upbeat with the 2020 Olympics, future casino development, high-speed linear Shinkansen and the fast growing number of visitors from overseas. Investor sentiment remains high too because of the increase of inventories and property prices. In the nearer future, the Japan government is scheduled to increase the consumption tax to 10% from the current rate of 8% in October 2019. Thus, some last minute property purchase by the local buyers are projected and the price increase and the decrease of inventories are projected as well.
Property Market Report in Greater Tokyo (June 2018)
The number of condominium units sold has been flat for a few months. While the number of available units has increased 8.5 per cent compared to June 2017, this number has actually been flat for a few months.
As for prices of condominiums, the average price of condominium units has increased 4.6 per cent compared to the previous year and it has been rising since January of 2013 – that’s 66 consecutive months.
In particular, prices in Tokyo Metropolitan has been up 6.8 per cent compared to a year ago, and has been rising since a good 69 months.
As for single family homes, the number sold has increased 7%. Inventories has increased close to 9 per cent since 2017, marking 13 consecutive months of increase. The average price of sold single family homes increased 5.5% after it has increased for 10 consecutive months.
The prices for single family homes fell 2.4 per cent. This follows another fall in the previous month. In particular, prices of single family homes in Tokyo Metropolitan has gone up 3.5 per cent and has been increasing for 3 consecutive months relative to the previous year.