Hong Kong property investors looking to Europe have traditionally focused on London, but events over the last few years have seen an increasing number expanding their horizons to other markets. With strong price growth, a stable economy, record low unemployment, and a growing population in need of properties to rent, Germany's capital Berlin has emerged as the strongest contender.

A global capital of culture and heritage, Berlin's booming tech economy and high quality of life make it one of the most popular places to live in Europe among students and professionals alike. With house prices growing around 10 percent each year, according to Deutsche Bank, it's a big hit with residential investors too. Berlin took first place in PwC's Emerging Trends in Real Estate report for the last three consecutive years for its overall investment and development prospects.

Berlin received more institutional investment than any other city in Europe last year at €3.7 billion (HKD 33.7 billion). This growth was partly driven by a rise in foreign investment, including several large-scale transactions such as US billionaire Warren Buffett's €3.8 million acquisition of a luxury real estate agency. While most foreign capital originated in established markets such as France, Switzerland, and Israel, there was also a noticeable rise in investment from further afield.

Price and rent gains continue

With one of the world's lowest home ownership rates, Berlin is a perfect fit for landlords looking for buy-to-let investment properties—but there can be considerable differences across city districts and price brackets.

Last year, the weakest rent growth was seen in the lower end of the market, owing to increased competition from the government's affordable housing provision. At the opposite end of the scale, luxury apartments in prime locations saw the highest rental growth, with new builds letting for €15 to €17 per square meter per month (HKD 137–155) in the traditionally expensive districts of Mitte, Charlottenburg-Wilmersdorf and Friedrichshain-Kreuzberg.

For Berlin residents who prefer to buy, condominiums are the main focus of new build activity in the city. Condominiums appeal to city dwellers looking for a stable long-term investment as well as to buy-to-sell investors looking for a faster turnover when the price cycle peaks. By the end of 2017, new condominiums in Berlin city center were fetching approximately €4,000 (HKD 36,400) per square meter. Condominium prices have more than doubled since 2010.

No end to supply shortage

Lack of housing supply is a problem facing many European markets, but the market is particularly squeezed in Berlin. The government's emphasis on affordable municipal housing with capped rents means that building permits are strictly limited for private developers. Much development activity instead involves refurbishing existing housing stock to add extra floors or turn old rental apartments into modern condominiums. However, this too is being hindered as wider areas of central Berlin are designated conservation areas and become ineligible for redevelopment.

While Berlin's housing shortage will likely continue to frustrate tenants and investors for years to come, there are already signs that things are improving. The number of building permits has been rising sharply each year and reached a new height of 22,000 units in 2017. This trend is expected to continue as more projects begin construction this year. Population growth has also started to slow down, dropping from more than 60,000 in 2016 to less than 40,000 in 2017 as migration into Germany declines.

With tough competition and complex property laws that can be intimidating for first-time buyers, investing in Berlin property isn't without its headaches. But as a lucrative and comparatively secure investment, it's easy to see why Germany's capital remains Europe's hottest pick year after year.

For more information about residential properties in Berlin, please contact JLL International Residential  at +852 3759 0909 or irp.hk@ap.jll.com

15 Oct 2019

The recovery in the United Kingdom's residential property markets is exceeding expectations. The growing urban population in London and major regional cities is pushing demand to ever greater heights, and investors the world over are eager to stake a claim now that property prices are back on the upswing.

Institutional investment totaled £2.4 billion (HKD 24.7 billion) in 2017, an increase of 15 percent over the previous year. This is only just below the record transaction levels seen in 2015, prior to the EU referendum vote that temporarily shook investor confidence. 2018 is set to be a record-breaking year for UK property investment, and this is largely thanks to sustained optimism from overseas buyers who supported the markets through those turbulent times.

Our research shows that foreign capital accounted for 54 percent of investment volumes last year. This came primarily from established investors in Europe, the Middle East and North America, although growing interest from Asia is also making significant contributions, with Hong Kong investors being the biggest spenders.

As in the rest of Europe, the greatest obstacle preventing the UK’s residential markets from achieving their full potential is the lack of available housing supply to meet demand. An active development pipeline is aiming to address this imbalance, leading to a record number of forward purchases being made as investors secure prices today for properties that will enter the highly competitive marketplace in the coming years.

Best performing cities

London received the lion's share of UK residential investment in 2017. Institutional investment volumes grew by 20 percent to reach almost £1 billion with a net yield of 3.75 percent on average.

Although it is only the fifth busiest investment market in Europe—after Berlin, Copenhagen, Stockholm and Paris—the UK capital is favored by Asian investors, whose confidence in the city following the Brexit vote has been borne out. Prices have been recovering across the capital this year, with prime Central London seeing an increase in transactions and consecutive rental gains in the first two quarters of 2018.

There's more to the UK than London, of course, and Asian investors are increasingly looking to regional powerhouse cities such as Greater Manchester and Sheffield in the north, Birmingham in the Midlands, and the Scottish capital Edinburgh, to expand their portfolios. A number of large-scale construction projects are also underway in smaller cities across the UK, which are set for rapid price growth over the next few years.

Overcoming the supply shortage

The lack of available housing stock is the most significant barrier to new investors entering the UK’s property markets. This affects prime Central London most severely, with opportunities too scarce or upfront costs too expensive for less experienced investors.

The landscape is evolving however, with an increasing focus on purpose-built developments targeted at institutional investors and landlords. With the majority of these projects currently in the construction phase, forward purchase deals now comprise the largest share of investment volumes across the UK and patient investors must wait for their properties to enter the market and start generating income.

More and more investors are also entering into joint partnerships to increase their buying power and gain access to larger assets. These investment strategies are expected to continue through 2018.

Outlook remains positive

Looking ahead to the next 12 months, the UK’s residential markets are expected to continue their trajectory of growth, fueled by ever-increasing interest from overseas property investors.

Our head of UK residential investment, Simon Scott, explains: “The growth in city populations, strong supply/demand fundamentals and relative economic stability provide many reasons for investors to remain positive about London and the wider UK in the next year.

“The impact of Brexit does not seem to have dampened investors' appetites and there is an increasing desire to gain exposure to the sector.”

For more information about residential properties across the UK, please contact JLL International Residential at +852 3759 0909 or irp.hk@ap.jll.com.

15 Oct 2019

Investment in Tokyo property is expected to accelerate in the second half of 2018, as Japanese and overseas property buyers take advantage of strong house price growth ahead of the government's consumption tax increase, expected in October 2019.

Data from the Real Estate Economic Institute predicts a positive outlook for the city’s residential markets through the rest of 2018. The supply of new condominiums is set to grow by 4.4 percent or more, year-on-year, in the greater Tokyo area, even as average sale prices approach historic peak levels.

Sale prices are expected to remain strong in Tokyo's central wards in particular, where major redevelopment projects and booming tech and creative industries are attracting talent from the wider area and overseas. This is increasing demand for all types of housing, including larger homes with amenities to support a healthy, family living.

Shinagawa is one of the areas experiencing strong price appreciation, driven by a rapidly growing population in need of convenient housing. Located close to one of Tokyo's major transport hubs, new condominium projects opening their doors in Shinagawa's affluent neighborhoods offer excellent opportunities to residents and investors alike.

Shinagawa Station area

One of Tokyo's busiest stations, Shinagawa Station is connected to all corners of the city and beyond via six rail lines, including the busy Yamanote Line, the Shinkansen bullet train, and direct connections to nearby Haneda and Narita Airports. The surrounding area has long been a favorite with developers, and regeneration is underway to capitalize on strong demand for apartments, offices, restaurants and retail premises close to the station.

The area around the Konan Exit to the east of the station has already undergone extensive redevelopment, including the rise of the gleaming skyscrapers of the Shinagawa Grand Commons and Intercity commercial complexes as well as the World City Towers condominiums.

The Takanawa Exit to the west is surrounded by hotels and shopping malls, including the Shinagawa Prince Hotel complex that is home to a cinema, bowling alley and aquarium. As part of Shinagawa Station's redevelopment, an elevated pedestrian deck will offer direct access to the Prince Hotel, which is being converted to offer business facilities including offices and meeting rooms by 2027.

Shirokane and Takanawa

Homes in prime residential districts close to Shinagawa Station are in high demand from Tokyo’s professionals and investors following the announcement that a new station will be opened nearby by 2024 to improve access to Haneda Airport.

Shirokane and Takanawa are two of Tokyo's plushest neighborhoods and are within walking distance of the stations to their west. Shirokane ('platinum' in Japanese) is the closer of the two to the new JR station and is known for its gourmet restaurants and traditional cafes, while Takanawa is closer to Shinagawa Station.

New high-rise developments in Shirokane include The Parkhouse Shirokane Nichome Tower, a collection of 172 luxury apartments by Mitsubishi Jisho Residence opening in August 2018. This 27-story residential tower has the latest seismic isolation systems to protect from earthquake damage and is in a remarkably green area, given that it is only a five-minute walk from Shirokanedai subway station.

Shinagawa Seaside area

South of Shinagawa Station, the Shinagawa Seaside area is another favorite with Tokyo’s commuters, combining scenic views over Tokyo Bay and access to the Shinagawa Seaside Forest, with convenient transport connections to the airport  and the major commercial hubs of Shinagawa, Ebisu, Shibuya and Shinjuku.

Since Shinagawa Seaside Station opened in 2002, alongside amenities such as hotels and shopping malls, properties in the area have seen higher rental increases than most central Tokyo districts, making it a popular with landlords.

Prime Parks Shinagawa Seaside The Tower is a major residential project that will offer 817 residences in the natural surroundings of Shinagawa Seaside Forest. A collaboration between five developers, this collection of two-, three- and four-bedroom apartments also has a roof garden and children's play area and is scheduled to open in late March 2019.

For more information about Tokyo residential properties, please contact JLL International Residential at +852 3759 0909 or irp.hk@ap.jll.com.

04 Dec 2019

Central London's housing markets are back on a firm footing after three years of uncertainty, making property developers and investors optimistic about the future.

Our UK residential research shows that property prices remained stable over the past year before picking up strongly in the first three months of 2018. This was aided by the government-backed Help to Buy equity scheme that allows buyers to secure homes under £600,000 (HKD 6,231,000) with as little as a five percent deposit.

Developers are eager to increase construction activity and capitalize on this high demand, but new government restrictions, such as the increased affordable housing provision, have caused a slowdown in planning applications. While development activity has held steady over the past year, the longer term outlook is less certain unless these challenges can be met.

 

Sales rebound in Q1 2018

The number of sales of ‘new builds’ in Central London jumped 31 percent in the first quarter of 2018 to 2,450 sales. Annual sales are expected to stabilize around 8,500 units, a turnaround from the steady decline in the market since 2015.

House prices in Central London have also remained stable across all submarkets over the past 12 months. Large discounts of 10 percent or more have become less common, suggesting stronger market conditions and growing confidence.

Demand is highest for lower-value properties, such as those that qualify for the Help to Buy scheme, with more affordable districts of Outer London outpacing those closer to the center of the capital. Homes in up-and-coming regeneration areas such as Nine Elms and those close to Crossrail stations are especially popular with investors owing to the price growth that is forecast over the coming years.

Buyer demographics are also changing, with a higher proportion of domestic owner-occupiers buying new build units. Foreign investment is still a driving factor however, with Chinese and Hong Kong buyers being attracted to the UK market by the weakened pound.

 

Construction volumes holding firm

Over 42,600 homes are currently under construction across Central London—close to a record high. Of these, 45 percent are being built in Core markets closer to the center of London—predominantly in more affordable Canary Wharf—but development activity is gradually shifting to the Outer Core to meet buyer preferences for lower-value properties. Around 75 percent of new planning permissions are for Outer Core markets, particularly in the east of the city.

Like sale prices, construction volumes have stabilized over the past six months, although a decline in planning permissions has already seen a drop in the number of new projects commencing in the first quarter of 2018. This slowdown is believed to be largely due to new initiatives launched last October by London Mayor Sadiq Khan that require 35 percent of new builds to be affordable housing and for developers to be subject to stricter reviews and greater transparency.

While these measures have reduced the appetite of some, most residential developers say they still feel positive about building in Central London, especially in the most desirable locations.

 

Gradual improvements ahead

Our research forecasts ongoing stability and steady price growth through the rest of 2018 that will reward the patience of developers and investors. Central London house prices are expected to grow by 9.8 percent from 2018-22 and rents by 8.8 percent over the same period, supported by the Help to Buy scheme before its expiry in 2021. Sales growth is also expected to continue.

Construction activity will remain relatively stable across the year, with Outer Core developments increasing their share from 55 percent of projects at present to 75 percent by 2020. Canary Wharf and Nine Elms will be the most sought-after Inner Core markets.

Director of Residential Research at JLL UK, Neil Chegwidden, explains: “The Central London development sales market remains slower than developers would like, but prices have remained firm for the past year. Some developers are delaying launches, but most are continuing with existing plans.

“The volume of construction activity is high by historic standards but, with planning applications slowing sharply—driven in part by the Mayor's firmer stance on affordable housing provision—the medium-term supply pipeline is less certain.”

 

For more information about London residential properties, please contact JLL International Residential at +852 3759 0909 or irp.hk@ap.jll.com.

15 Oct 2019

Long overshadowed by London and Paris, Berlin has steadily risen to prominence over the past decade as the most attractive European capital city for commercial and residential property investment.

Germany's political and cultural center was named the most desirable city by investors for the fourth year running in PwC's Emerging Trends in Real Estate Europe 2018 survey, which saw German cities taking four of the top six places. Generating €9 billion in property deals in the first three quarters of 2017 according to Real Capital Analytics, Berlin is now Europe's second most active market after London.

While house prices and rents are increasing in all major European cities, Berlin's rapid growth is perceived to be more sustainable. That’s because the city's rising population and a restricted housing supply is maintaining a high level of demand. With a limited number of permits being granted each year, new builds in prime city center locations offer profitable prospects to overseas buyers looking for investment or buy-to-let properties.

 

Why Berlin?

Berlin appeals to people from all walks of life – from students and young people drawn by its vibrant culture and nightlife to families seeking a higher quality of life and businesspeople tapping into one of Europe's largest economies. In a time of global uncertainty, Germany has remained relatively stable economically and politically, earning its capital a reputation as a safe haven for investment.

 

Last year saw Berlin's GDP grow by 2.2 percent, its strongest performance in six years, following significant growth of 48 percent between 2005 and 2016. As well as being home to the headquarters of Germany's largest companies, from Axel Springer to Zalando, Berlin is also a growing technology hub with a thriving start-up scene, aided by funding initiatives such as Google's Factory Berlin.

With 47 universities and technical colleges in the area, there's no shortage of talented workers or students in need of accommodation in a city where renting, not buying, is the norm. Only 14 percent of Berlin residents own their homes, which combined with a low vacancy rate of 1.5 percent makes the city a perfect fit for landlords.

 

High demand, low supply

Limited housing has been driving up prices and rents in Berlin for a decade, but the market became even more tightly squeezed during the refugee crisis, when population growth peaked at 61,000 new arrivals in 2016. Growth has been slowing since, but the population is still predicted to increase by an average of 3 percent each year to 2030 as Berlin continues to be an appealing destination for migrants from elsewhere in Europe and further afield.

Berlin's strict housing policy is contributing to the supply shortage, with the city only issuing a limited number of permits for new-build constructions each year. A record 22,000 permits were issued in 2017, increasing construction activity across the city over the next few years, but further increases are unlikely owing to a shortage of available land and high land prices. This will keep the supply of new apartments in Berlin significantly below the level of demand forecast in the coming years, fueling the rise in rents and property prices.

Rents in Berlin grew by 9.1 percent in 2017 to €11.10 per square meter per month. Rents are highest in the central districts of Mitte, Charlottenburg-Wilmersdorf and Friedrichshain-Kreuzberg, with Mitte having the highest median rent at €13.95/sqm/month for existing apartments and €16.75 for new builds. Mitte also has the most expensive house prices, with condominiums selling for an average of €4,990/sqm (€6,560/sqm for new builds).

 

Berlin's fastest growing district, Mitte, is a major focus of development activity with more residential projects and completions than any other part of the city. These include the new residential quarter Luisenpark Berlin-Mitte by Instone Real Estate Development.

For more information about Luisenpark Berlin-Mitte and other residential properties in Berlin, click here or contact JLL International Properties at +852 3759 0909 or irp.hk@ap.jll.com.

15 Oct 2019

The Tokyo 2020 Olympics have accelerated regeneration efforts in Japan's high-tech capital, with the country preparing to welcome a record 33 million foreign visitors that year, but these 'once-in-a-century' redevelopment projects will also bring about longer term gains.

Already one of the most urbanized nations on Earth, Japan's urban population continues to rise with an estimated 94.3% of people living in cities in 2018, according to the World Factbook. This centralization is evident in Tokyo itself, as the megacity draws more and more people from surrounding cities every year and its residents cluster around its bustling central business districts.

These sub-metropolitan ‘cities-in-the-city’ each have defining characteristics that appeal to different demographics. Now, an unprecedented level of public and private investment in transport infrastructure, commercial facilities, and public amenities is enhancing these attributes to make Tokyo's CBDs even more appealing.

 

Shinjuku & Shibuya: home of youth, fashion and creative industry

Two of the capital's largest urban centers (or fukutoshin), Shinjuku and Shibuya are neighboring districts in Western Tokyo that have a lot in common, including being home to Tokyo's two busiest train stations. However, those who spend any time exploring their neon streets and hangouts will quickly learn to spot the difference.

Shinjuku is the larger and louder of the two. Tokyo's answer to Manhattan's Greenwich Village, Shinjuku is the city's most fashionable night spot and boasts the largest concentration of skyscrapers in Tokyo, including legendary architect Kenzo Tange's imposing Tokyo Metropolitan Government building and Shinjuku Park Tower.

Shinjuku Station is one of the busiest in the world, with more than 3.5 million passengers passing through its 200 gates in an orderly fashion every weekday. Many of Japan's biggest companies have their headquarters close to Shinjuku Station, including electronics giants Olympus and Seiko Epson, auto manufacturer Subaru, and game developer Square Enix.

Shibuya is no less lively, especially of the area outside Shibuya Station where up to 2,500 pedestrians cross its famous five-way scramble crossing every time the traffic lights change. Shibuya has a youthful and creative personality; it’s been a major technology hub since the 1990s and is home to many start-ups today, with facilities to support both foreign and domestic creative content industries.

The Shibuya Station area redevelopment is one of the largest regeneration projects currently underway in Tokyo. This 15-year masterplan will streamline transport links, create new public plazas, and add approximately 9.5 million square feet of commercial and retail space in earthquake-resistant skyscrapers by 2027.

Both districts have long been sought-after addresses in Tokyo, and new residential projects are addressing this high demand. Scheduled to open its doors in December, The ParkOne's Shibuya Honmachi by leading developer Mitsubishi Jisho Residence will offer 118 family-friendly apartments with convenient access to both CBDs, just 4 minutes from Shinjuku and 10 minutes from Shibuya.

 

Ginza: high-end shopping, fine dining and fine art

Ginza's high street and luxury department stores are quieter than Shinjuku's or Shibuya's, their more expensive price tags attracting a more select and mature clientele. Popular with Tokyo's wealthy for more than a century, and more recently a favorite of Asian tourists, Ginza is the go-to destination for prestigious global brands like Apple, Cartier, and Rolex, as well as premium local boutiques selling the finest Japanese wines and delicacies.

Beyond retail therapy, Ginza has plenty to offer foodies and culture vultures, with 43 Michelin-starred restaurants, more private art galleries than any other part of Tokyo, and the city's most famous kabuki theater, Kabuki-za. Its commercial district is home to blue chip companies such as local airline ANA and tech giants Fujitsu and Panasonic.

What Ginza has traditionally lacked is residential properties, with only 1.22% of condominiums built in the wider Chuo-ku ward since 2008 having a Ginza address. This is slowly changing as projects such as the sophisticated PIAS Ginza 8-chome residence by high-end developer Morimoto come onto the market, located close to metro stations, amenities and schools.

 

Omotesando: cultural treasures, peaceful parks and inspiring architecture

Passing through Shibuya ward, but a world away from its crowds and sensory overload, tree-lined Omotesando road in Tokyo's cultural quarter Aoyama is a peaceful alternative for shopping and dining that's easier on the wallet than Ginza's high street.

Branching into youth fashion district Harajuku and traditional Cat Street along the way, Omotesando has something for everyone, even if you're just enjoying the fresh air and admiring the distinctive prize-winning architecture of its flagship Dior, Louis Vuitton, and Prada stores that come to life when illuminated at night.

Away from the skyscrapers of the bustling CBDs, apartments in Omotesando tend to be low-rise. The Parkhouse Urbance Omotesando is a new collection of compact studios and two-bedroom apartments within 10 minutes' walk of 5 metro and JR lines. Expecting its first residents in April next year, units are ideal for simple, contemporary living and already available for overseas property buyers and investors.

For more information about Tokyo residential properties in the city's most sought-after locations, click here or contact JLL International Properties at +852 3759 0909 or irp.hk@ap.jll.com.

15 Oct 2019

Tokyo's successful bid to host the 2020 Summer Olympics and Paralympics has accelerated the pace of urban regeneration in Japan's high-tech capital. As well as the new sports venues, hotels and transport upgrades catering to international visitors during the events, the Japanese government and Tokyo Metropolitan Government are also investing heavily in long-term improvements within the city's rapidly growing CBDs.

Japan's population is becoming increasingly urbanized, with Tokyo in particular drawing an influx of workers, entrepreneurs and students from surrounding regions to its thriving central wards. The international population is also on the rise, with global companies being tempted by lower corporate taxes and relaxed visa rules in Tokyo's Special Economic Zones. Overseas property buyers can also benefit from cheaper stamp duties and a lower price index compared to other major world cities such as Hong Kong, London and Shanghai.

The most high-profile redevelopments are primarily located in Shibuya, the trendy heart of the capital that has also been a major hub of tech and creative industries since the 1990s. The Shibuya Station area is currently in the midst of a “once-in-a-century” regeneration which is aiming to establish the district as a world-leading business and entertainment center to rival the likes of London, Paris and New York.

 

Shibuya regeneration

Tokyo's answer to Times Square, the Shibuya Station area is the iconic image of Tokyo. Home of the world's busiest train station, the famous scramble crossing and the statue of loyal dog Hachiko, this popular meeting place is also a haven for startups and international headquarters, for example, Mixi, online Japanese social media company like Facebook, its headquarter is located in Shibuya.

The Shibuya regeneration is adding to these landmarks to make the area even more appealing to businesses and investors, with an extensive development plan involving over nine million square feet of new buildings and infrastructure. These include:

 

    Shibuya Hikarie – this 183-meter skyscraper was the first phase of the redevelopment and was completed in 2012. It houses offices and conference facilities, restaurants, shops and the Tokyu Theatre Orb, which hosts Broadway musicals and other entertainment.

    Shibuya Station Building  – a new 230-meter skyscraper adjacent to the rebuilt station and scheduled for completion in 2019. Its rooftop observation deck will offer panoramic views over the city that stretch as far as Mount Fuji.

    Shibuya Station South – another 180-meter skyscraper will be constructed on the former site of the redirected Tokyu Toyoko Line railway, housing office space, a hotel and services for creative startups.

 •   Dogenzaka – a new commercial and office building will be erected near the existing Shibuya Mark City complex.

 •   Sakuragaoka – this area south of the station will be home to a new 180-meter office tower and 150-meter condominium targeted at foreign buyers.

 •   Shibuya River – this overlooked waterway running through the district will be turned into an attractive pedestrian plaza that is expected to open later this year.

 

(Image from Shibuya Station website)

 

Further commercial buildings of various sizes will follow in the second phase of the redevelopment which will carry through to 2027 and is expected to unlock even more of Shibuya's potential.

Solving the housing shortage

With more local and international talent being drawn to the district, the already high demand for accommodation in Shibuya is skyrocketing, especially for larger family homes. Only 20 percent of condominiums in Shibuya currently have two or three bedrooms, compared to the 50 percent average for other central Tokyo wards. New residential developments are addressing this shortfall.

For more information about Tokyo residential properties, click here or contact JLL International Properties at +852 3759 0909 or irp.hk@ap.jll.com.

15 Oct 2019

It may be the world's most powerful financial center and have a huge appeal for tourists, but there's a less showy side to London that makes the UK capital a timelessly appealing place to live. Look beyond the shimmering skyline and you'll find a world of red brick Victorian mansions, tranquil waterways, and sprawling Royal Parks.

The impending launch of the new Crossrail service by year's end is making certain areas of London even more attractive to residents and investors alike, with our research forecasting house price growth of 16 percent above the Greater London average by 2020.

Among the best connected stations on the new line will be Paddington, which lies within walking distance of leafy residential neighborhood Maida Vale. Combining classic red-brick charm with this convenient Crossrail connection, the affluent W2 district offers more affordable house prices than nearby St. John’s Wood, Notting Hill or Mayfair. Garrett Mansions is a new property in Maida Vale by leading developer Berkeley Homes that updates the traditional mansion square for the 21st century.

 

Serenity in the city

Renowned for its peace and quiet and the canal side cafes of ‘Little Venice,’ Maida Vale offers the experience of close-knit village living while still being enviably close to London's top sights and destinations, from Harrods to Buckingham Palace. Home to the BBC's Maida Vale Studios, the area has long attracted musical talent, some notable residents including singers Björk, Jarvis Cocker and Noel Gallagher.

Garrett Mansions is less than 15 minutes' walk from two of London's most famous parks—Hyde Park to the south and Regent's Park to the north-east—totaling a combined 760 acres of green space. The boutiques of Marylebone High Street are less than 20 minutes on foot, and it's not much further to the cultural charms of SoHo and fine dining in Mayfair.

Families with children will also be spoiled for choice when it comes to exceptional education options. Local St. Saviour's primary school is rated ‘Outstanding’ by Ofsted, and notable universities including the University of Westminster, Regent's University London and London School of Economics are all within easy reach.

For getting around the city and beyond, the district is as well-connected as you'd expect for prime Zone 1 London. Edgware station offers access to four Underground lines just a minute's walk from Garrett Mansions and it's also a short walk to Paddington station and Crossrail, taking you to Heathrow Airport in 21 minutes.

 

Classic style with modern amenities

Garrett Mansions is part of the larger West End Gate development that's reimagining the London mansion block for the modern age. Architects Squire and Partners designed the red brick buildings to blend sympathetically with their period surroundings, overlooking a serene private garden.

This classically-inspired design continues inside the apartments, which are characterized by warm bronze and heritage tones, and feature engineered timber flooring, integrated appliances, and bespoke fittings. Residents can also access exclusive amenities at the development's Westmark building, including a swimming pool, fully-equipped gym and spa, private lounge, dining and cinema rooms, and a 24-hour concierge.

Berkeley Homes Sales and Marketing Director, Simon Howard, says the West End Gate development offers an excellent opportunity to overseas property buyers. “With great design, amenities and location, the mid-range pricing opens up room for investment growth,” he explains.

“With the current and predicted lack of supply, it's a safe option for an investor. With the area’s new transport connections, the opening of Crossrail, and the prestigious, established locations all around, I see it as a very good opportunity.”

 

For more information about Garrett Mansions at West End Gate and other Central London residential properties, click here or contact JLL International Residential at +852 3759 0909 or irp.hk@ap.jll.com.

04 Dec 2019

港幣1000萬至1200萬元可於世上最受歡迎的城市買到甚麼?
香港住宅物業是世上其中一個最貴的市場。但同樣的價格,可於其他城市購得甚麼類型的單位?

我們為你找來世界各大城市中,一些介乎1000萬元至1200萬元的物業。    

如此價格,只能在香港購買啟德或荃灣一個全新的兩房單位,面積只有500平方呎,或者於西灣河買入一個700平方呎的舊樓三房單位。香港的新樓設施整全,提供會所、健身室及室外泳池;舊樓則有較少設施,因間隔較實用,而且樓底較高,同樣受歡迎。

倫敦

倫敦一直是香港投資者的目的地,近年中國投資者數量則節節上升,因他們尋找海外投資機會,豐富自己的資產組合。

西敏區及倫敦市中心是中倫敦最受歡迎的區域,這是因為該區有著名的景色、完善的第一區交通網絡,同時鄰近著名的餐廳及劇院。一個面積達600平方呎,有法式露台的豪華一房單位,約值100萬英鎊 (港幣1020萬元)。物業設施有服務台、附有電影房間及健身室的會所,以及住客酒吧間。

在東邊較遠的第二區,同樣的金額可以帶來更好的選擇。100萬英鎊可以買入一個800平方呎的兩房豪宅單位,物業更有消閒設施,同時可欣賞倫敦眼及碎片大廈等著名地標。

第二區的新項目附近有公園、廣場及商店。這區全面重建後,大大提升了社區設施,居民除了可以使用體育館、劇院、畫廊外,附近更有博物館及可供划船的湖泊。

金絲雀碼頭是倫敦主要的商業及金融區及豪宅區。該區同時有酒吧、餐廳及加拿大廣場 – 這是夏天舉行演唱會的場地,冬天則化身成溜冰場。

仲量聯行港區董事兼國際住宅物業服務主管黃嘉欣指,Canary Gateway提供的2房單位,面積達700平方呎,有一個面向河景的露台,價值470,000英鎊 (約480萬港幣),如此價格只是香港的一半。」

曼徹斯特

曼徹斯特過去10至15年經歷翻天覆地的改變,成為英格蘭北部的娛樂及文化重地,更有不少科技企業遷入。

曼徹斯特的單位面積與倫敦相若,但價格較低。亞太區國際住宅部總監茜安妮表示,港幣1000萬至1200萬元(約980,000至117萬英鎊) 可於市中心購入一個頂層單位。不過,投資者一般會買入200,000至400,000英鎊的物業,約值200萬至400萬港元。

Manchester-New-Square是曼徹斯特市中心的新住宅。三座大廈分別有12至15層高,附近有花園,高級餐廳及商店。一個1,000平方呎的三房單位,約值466,500英鎊 (約480萬港幣)。

較少的預算如200,000英鎊,亦可以購買樓齡較大,700至1,000平方呎的三房單位,或者於新樓買入500至600平方呎的一房單位。在曼徹斯特出租物業比想像中容易。黃嘉欣指,一般9日就可以找到新租客。

柏林

柏林近年來有不少建設,吸引年輕專業人士遷入。茜安妮表示,這個現象可提升投資回報。

柏林擁有樓市興旺的特徵,包括新的勃蘭登堡機場將於2019年落成,以及不少行業如科技企業都搬到當地。當地的文化及娛樂事業也愈來愈精彩。歷史悠久的米特區,是不是藝術畫廊的集中地,該區又有不少博物館、劇院、會所。景點則有柏林洪堡大學、火車站、勃蘭登堡門,柏林大教堂及德國國會大廈。

市中心米特區的三房豪宅單位,面積約1,000平方呎,可欣賞施普雷河的景色,價值約600,000至700,000歐元 (港幣550萬至640萬元)。頂層單位亦屬可負擔的水平,約值120萬歐元(1,100萬港幣 )。一般而言,投資者買入的單位,約值400,000歐元(366萬港幣),並附設24小時保安服務及服務櫃枱。

Luisenpark Berlin-Mitte是柏林最新的住宅項目,位於亞歷山大廣場及波茨坦廣場之間。. Parkside House就在附近。項目於2019年完成,一個四房豪宅單位,約值569,000萬歐元 ( 521萬港幣) 。

東京

東京一直是東南亞投資者的熱門選擇。奧運會將於2020年舉行,這些盛事推動不少基建發展,投資者對當地樓市的興趣也漸漸提高。

日本的資產泡沫爆破發生於1992年,自當時起只少量豪宅落成。不過,當地豪宅物業於貴重地段如涉谷、表參道及青山落成後,一般都有香港及其他地方的投資者買入。

東京各區的物業價格有很大分別。涉谷以繁忙街道及多姿多彩夜生活聞名,當地一個800平方呎的一房或兩房單位,附有露台且鄰近火車站,價值最少1,000萬港幣。位於傳統商業區中央區的 Premist Nihonbashi Hamacho-Koen,提供900平方呎的三房單位,約值約900萬港元。

新樓的設施包括服務櫃台、住客酒吧間、以及日式花園,又有華麗裝修的大堂。如果需要會所設施,例如健身室,東京灣及新宿的高層大廈是不俗之選,而這些物業,售價由300萬至400萬港元起。

紐約

紐約物業價格有很大差距,視乎它們位於曼哈頓的上城、下城抑或中城。

1,000港元可於曼哈頓下城及中城買入一個單位。一個700平方呎的豪華一房單位,大廈設有櫃台服務及健身室,售價介乎800,000萬至120萬美元(624萬至936萬港元)。

Extell’s One Manhattan Square是一座位於曼哈頓下城東部的多層大廈。單位售價由800,000美元至900,000美元起(約700萬港元),一般價格為120萬美元 (940萬港元)。

茜安妮表示,美國物業市場愈來愈受中國買家歡迎,他們的興趣更超過了來自香港及新加坡的買家,主要由於他們的子女於美國受教育帶動需求。

波士頓

美國東岸的波士頓亦經過很大變化。當地有哈佛大學及麻省理工,有子女於當地入學的投資者,都會在當地置業供子女居住。

Echelon Seaport位於波士頓海港區,兩幢21層高的住宅大廈,提供447個豪宅單位。項目有3個泳池、天台花園、健康及水療中心、健身室、高級零售商店及餐廳。一個700平方呎的一房單位,約值900萬港元。

迎接未來

各大城市熱門區域中,價值約1,000萬港元的豪宅物業,有不錯的升值潛力。當你等待物業升值時,租務需求一直強勁,不愁沒有穩定的租金收入。想入市的話,請看我們的清單。

請查看我們的國際住宅物業服務網頁,或聯絡Annie-Marie Sage。

15 Oct 2019

Hong Kong’s residential property market is renowned for being one the world’s most expensive. So how do the hottest property markets overseas measure up to Hong Kong’s in terms of price range, size and facilities?

We set out to discover what HKD 10-12 million would buy you around the world.

For that price in Hong Kong, you could purchase a new, 500 sq ft, 2-bedroom apartment in Kai Tak or Tsuen Wan, or a 700 sq ft, 3-bedroom apartment in an older building in Sai Wan Ho. The facilities at Hong Kong’s newer buildings include a clubhouse, gym and outdoor pool. The city’s older buildings will have fewer facilities but perhaps more spacious layouts and higher ceilings.

The same budget would buy a luxury apartment in London, Manchester, Berlin, Tokyo, or on the East Coast of the U.S., such as in New York or Boston.

London

The UK’s capital city has traditionally been a top choice for Hong Kong investors and, in recent years, mainland Chinese, who are on the look-out for overseas opportunities to diversify their property portfolios.

Central London boroughs like Westminster and The City of London are the most popular, thanks to their iconic London views, numerous Zone 1 transport connections, and proximity to some of the world’s best theatres and restaurants. A luxury 1-bedroom, 600 sq ft apartment with a Juliette balcony in these areas will cost you around GBP 1 million (HKD 10.2 million). Facilities in new builds include concierge service, a clubhouse with cinema room and gym, and residents’ lounge.

A little further east in Zone 2, your money will go further. GBP 1 million will buy you a 2-bedroom apartment of around 800 sq ft in a luxury high-rise, complete with leisure facilities and fantastic views of London landmarks such as the London Eye and The Shard.

New developments in Zone 2 are often built around parks, plazas and shops. The regeneration of large swathes of this part of East London has given rise to excellent community facilities, including sports centres, museums, theatres, art galleries, and even a boating lake.

 

Canary Wharf, now London’s major business and financial district, is home to a cluster of luxury property developments, as well as stylish wine bars, restaurants, and Canada Square Park, which hosts summer concerts and a winter ice-skating rink.

“A 2-bedroom, 700sq ft luxury apartment on the waterfront with a balcony at the Canary Gateway is priced at GBP 470,000 (HKD 4.8 million),” says Mandy Wong, our Head of International Residential Property Services, Hong Kong. “That means you could buy two apartments there compared to just one in Hong Kong.”

Manchester

Manchester has undergone a complete transformation over the past 10-15 years. It’s become the North of England’s entertainment and cultural hub, and many tech companies have relocated to this thriving metropolis.

“Manchester apartments are of a similar size to those in London, but they are much less expensive. For the equivalent of HKD 10-12 million (GBP 980,000-GBP 1.17 million) you can buy a penthouse near the city centre,” says Anne-Marie Sage, our Head of International Residential Property Services, Asia. “Investors typically purchase flats priced between GBP 200,000 and GBP 400,000 (HKD 2-4 million).”

An exciting residential development in the heart of the city centre is Manchester New Square. Its three 12-15 storey buildings are set around landscaped gardens, with artisan restaurants and shops nearby. Here, a 1,000 sq ft, 3-bedroom luxury apartment would cost you GBP 466,500 (HKD 4.8 million).

On a smaller budget of around GBP 200,000, you can purchase a 700-1,000 sq ft flat with 2-3 bedrooms in an older building, or a 500-600 sq ft, 1-bedroom flat in a newer building. 

And it’s easy to rent investment properties in Manchester. “It takes an average of just nine days to find new tenants,” notes Wong.

Berlin

Berlin has also undergone a major transformation in recent years, attracting throngs of young working professionals. That makes it a solid investment choice with potential for “sizable return on investment,” says Sage.

The city bears all the hallmarks of a booming property market: the new Berlin Brandenburg international airport is likely to open in 2019 and many industries have moved to the city, especially the technology sector. It also has a flourishing entertainment and cultural scene. The Mitte, the historical heart of Berlin, is home to art galleries, museums, theatres, clubs, Humboldt University, the railway station, the Brandenburg gate, Berlin Cathedral, and The Reichstag.

In the city centre, Berlin Mitte, EUR 600,000–700,000 (HKD 5.5–6.4 million) buys a 1,000 sq ft, 3-bedroom apartment in a new luxury building, overlooking the River Spree. A penthouse with 3-4 bedrooms is still within our budget, priced at EUR 1.2 million (HKD 11 million). However, buyers typically invest much less, paying EUR 400,000 (HKD 3.66 million) for new apartments with concierges and 24-hour security.

Luisenpark Berlin-Mitte is being developed as a new residential quarter between the city’s two most iconic squares, Alexanderplatz and Potsdamer Platz. Parkside House is close by. Scheduled for completion in 2019, a 1,000 sq ft, 4-bedroom apartment in this luxury development costs EUR 569,000 (HKD 5.21 million).

Tokyo

Tokyo has always been a popular choice for property investors in South East Asia. Interest is expected to pick up now that the city is hosting the 2020 Olympics, with investments anticipated to improve its infrastructure.

Since Japan’s asset price bubble burst in 1992, few luxury apartments have been built. So when luxury developments do come onto the market in prominent districts, such as Shibuya, Omotesando and Aoyama, they tend to be snapped up by investors from Hong Kong and elsewhere.

Property prices across Tokyo vary greatly. In Shibuya―a popular nightlife spot and trendy shopping district famous for its busy pedestrian crossing―a luxury 1-2 bed, 800 sq ft apartment with a balcony, close to the railway station, starts from HKD 10 million. In Chuo-ku, historically the main commercial centre of Tokyo, a 3-bedroom, 900 sq ft apartment within the luxury 14-storey Premist Nihonbashi Hamacho-Koen residential block is HKD 8 million.

Facilities in new buildings generally include a concierge, well-decorated lobby, residents’ lounge, and Japanese Zen garden. If you are looking for club house facilities, including a gym, you’ll find them in new high-rise buildings located in Tokyo Bay or Shinjuku. Here, prices for units start from HKD 3-4 million.

New York

Prices vary greatly in New York, depending on whether the property is located in Upper, Lower or Midtown Manhattan.

HKD 10 million could buy you an apartment in Lower Manhattan or Midtown. One-bedroom, 700 sq ft luxury apartments in buildings with concierge service and gyms sell for between USD 800,000 and USD 1.2 million (HKD 6.24 million and HKD 9.36 million).

At Extell’s One Manhattan Square, a condominium tower on the Lower East side of Manhattan, prices started at around USD 800,000 to USD 900,000 (HKD 7 million), with units priced on average at USD 1.2 million (HKD 9.4 million).

“The U.S. is more a more popular market for mainland Chinese buyers, than those from Hong Kong or Singapore,” observes Sage. “The main reason end-users buy properties in the U.S. is that their children are being educated there.”

Boston

Further up the U.S. East Coast, Boston has undergone tremendous regeneration. It is particularly attractive for investors seeking properties for their children to live in while studying at the city’s world-famous universities, such as Harvard and Massachusetts Institute of Technology (MIT).

One popular choice is Echelon Seaport, a large-scale condominium development located in the heart of Boston’s Seaport district comprising two 21-storey buildings offering 447 luxury condominiums. The development boasts three pools, a roof garden, health club and spa, fitness centre, and luxury retail shops and restaurants. A 700 sq ft, one-bedroom apartment is priced at HKD 9 million.

Fit for the future

Bought for around HKD 10 million, luxury apartments in highly sought-after urban districts worldwide have great potential for capital appreciation. While you wait for prices to rise, there is no shortage of demand for leasing apartments in these first-class cities, so you can look forward to a comfortable rental income.

Looking to buy? Check out our listings.

For more information, visit our International Residential Property Services webpage, or contact Anne-Marie Sage.

04 Dec 2019