倫敦二區核心地段White City Living至尊限量住宅

 

香港, 2019年5月14日 – 英國著名發展商Berkeley集團旗下St James推出位於西倫敦White City Living全新一期住宅項目--Bowery,提供40伙一房和20伙兩房單位,全部單位均設有私人露台。Bowery以現代健康生活模式為核心發展概念,住戶可以直達專享的住客會所設施。

 

White City Living落成後將成為新地標,提供1,800個單位、包括佔地5英畝的公園在內的8英畝休憩空間。White City坐落於倫敦二區核心地段,將成為倫敦最繁華的生活區。英國廣播公司和歐洲最大購物中心——Westfield London都坐落在這個區域。項目毗鄰多家倫敦最負盛名的高等學府,包括Imperial College London’s的新校園,Westfield London購物中心鄰近更雲集多家熱門餐廳及酒吧。

 

坐享升值

White City Living為住戶提供投資倫敦熱門地段的機會。仲量聯行估計未來五年內,西倫敦核心地段住宅可望有13%的增長。不僅如此,英鎊兌美元預計於2021年前將升值15%,投資White City Living將為投資者帶來理想回報。

 

仲量聯行英國研究董事Nick Whitten指出:「倫敦是全球熱門的投資區域之一。除主要基本因素外,倫敦還擁有全球領先的文化和休閒氛圍。倫敦是世界上首屈一指的多元文化城市,所用語言超過250種。倫敦同時還是世界著名旅遊城市,每年約有2000萬遊客到訪。」

 

他補充:「White City的交通四通八達,為深受歡迎的住客區。現時區內有25,000個租戶,每年人均收入超過60,000英鎊,為區內的潛在住屋需求。隨著White City Living逐步成為全球領先的研發、創新、教育、時尚、零售、媒體和娛樂中心,該區的住屋需求將進一步增加。」

 

無比便利的學區優勢

White City Living毗鄰眾多倫敦頂尖名校和高等學府,佔盡地利。Imperial College London連續數年高踞世界排名前十名,並且正在White City Living毗鄰打造佔地23英畝的新校園。倫敦大學學院 (UCL)、倫敦政治經濟學院(LSE)和King’s College距離White City Living僅需30分鐘路程。此外,聖保羅中學(St Paul’s)和聖保羅女子中學(St Paul’s Girls)等名校距離White City Living僅10分鐘的車程,可謂近在咫尺,而伊頓公學 (Eton)和哈羅公學(Harrow)距離White City Living僅需30分鐘車程。

 

從White City Living步行2分鐘即可到達歐洲最大的購物中心——Westfield London購物中心,雲集名店及超過750個品牌。往來其他倫敦熱門購物場所也極為便捷,只需20分鐘車程或乘地鐵12分鐘即可到達Selfridges百貨公司和Harrods百貨。從White City Living步行還可以到達Holland Park 和Notting Hill等大型住宅區。

 

White City Living坐擁完善的交通網絡,項目入口旁邊就是White City站和Wood Lane地鐵站,可乘坐Central綫、Hammersmith綫及City and Circle綫,居民只需10分鐘即可抵達Marble Arch,14分鐘到達西區。

 

精心設計、設施完善

發展商精心設計Bowery的住宅單位,單位空間經過巧妙設計,佈局合理、寬敞明亮,不少單位均能眺望私人的Magnolia Garden 景觀。Bowery單位均按照最高標準打造,廚房配備全套Miele家電,還提供地暖以及舒適的製冷設備。

 

White City Living住戶不僅擁有舒適的居家享受,還可盡享專為White City Living精心打造的豐富配套設施。這些設施分佈在Bowery的地庫一樓、地下和一樓,居民從花園通道可以直達健身房、水療室和游泳池。此外,Bowery和Belvedere Row緊密相連,這裡有更多的居民配套設施,包括私人宴會廳、兩家設有12個座位的電影放映室、多功能娛樂室和設備完善的商務室和會客室。

 

聚焦綠色園林

White City Living坐擁8英畝園林,由著名園林設計師Murdoch Wickham設計,包括水景和5英畝公園,完美打造景觀。發展商於Magnolia、 Autumn、Central和 Spring四個園區種植各種季節的花卉,使White City Living的四季色彩繽紛、風景如畫。

 

White City Living的第一期住宅可於今年夏季入伙。Bowery售價從735,000英鎊 (約750萬港元)起。

 

香港推介會:

日期  :   2019年5月25-26日 (星期六及星期日)

時間  :  上午11時至晚上7時

地點  :   中環皇后大道中15號置地廣場公爵大廈3001室

 

項目詳情請聯繫仲量聯行國

Mandy Wong,irp.hk@ap.jll.com,(852) 3759 0909

 

 

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關於St James

St James成立於1996年,最初為泰晤士水務公司的合資公司。在過去的23年裡,St James發展成以卓越設計而著稱的發展商,為眾多項目賦予嶄新的活力,深受大眾歡迎。其項目設計不僅側重創造理想住所,而且十分注重環境保護。

 

St James是Berkeley集團的旗下品牌。Berkeley集團是著名的英國城市改造項目發展商。該集團負責大量的倫敦泰晤士河畔核心地段的開發工作,將曾經的工業區改造成為活力四射的生活、工作和娛樂綜合區域。集團注重品質和設計,致力於社區和環境的整體發展。

 

關於White City Living

London Borough of Hammersmith & Fulham規劃編號: 2018/02116NMAT。物業編號: IRP_N_101_00309。買家可擁有所購單位之999年期業權。

 

 

 

15 Oct 2019

Limited collection of apartments unveiled at White City Living, located in London’s central Zone 2

 

HONG KONG, 14 May 2019 – St James, part of the Berkeley Group, has launched the Bowery at White City Living, the centrepiece of the major west London opportunity area. The Bowery will comprise 40 one- bedroom and 20 two-bedroom apartments, each complete with its own private balcony. Wellness is at the heart of the Bowery, with residents benefiting from direct access to the scheme’s Home Club facilities, all of which are located within the building.

Once complete, White City Living will create a brand-new destination with over 1,800 homes set amongst eight-acres of open space, including a five-acre public park. Situated in a central Zone 2 location, White City is set to become the Capital’s brightest new neighbourhood, home to BBC worldwide and the largest shopping centre in Europe: Westfield London. The scheme is also located next to London’s most prestigious and renowned educational institutions, including Imperial College London’s new campus. An array of popular bars and restaurants are also opposite the development and close by at Westfield London.

Poised for growth

White City Living will offer residents the opportunity to invest in a popular area of London. JLL forecasts the housing prices in West London’s prime location will rise 13% in the next five years. Furthermore, Sterling is also anticipated to appreciate against the US Dollar by 15% by 2021, making White City Living an investment that is likely to deliver favourable returns for buyers down the line.

Nick Whitten, Research Director at JLL in UK, said: “London remains one of the world’s premier investment locations. Alongside the key fundamentals, London also boasts a world leading cultural and leisure offering. It is the most culturally diverse city in the world with more than 250 languages spoken and is one of the world’s tourist capitals, welcoming circa 20m visitors per year.

“White City is also extremely well connected and the area attracts a broad base of residents. There are currently over 25,000 renters in the surrounding area that earn over £60,000 per annum, illustrating the underlying demand for homes. This demand will grow as White City Living further transforms into a world- leading hub of research, innovation and education, fashion, retail, media and entertainment.”

A prime location for education with unparalleled connectivity

White City Living is uniquely positioned next to some of London’s top schools and universities. Imperial College London is consistently ranked a top 10 university in the world and is developing a new 23-acre campus next to the development, whilst UCL, LSE and King’s College are all just 30 minutes away.

Furthermore, prestigious schools such as St Paul’s and St Paul’s Girls are on White City Living’s doorstep within a 10 minute drive, while Eton and Harrow can be reached within 30 minutes’ drive.

The development is only two minutes’ walk from Westfield London, the largest shopping centre in Europe, which features luxury boutiques and over 750 brands. Other London retail favourites are also within easy reach, including Selfridges and Harrods which are both a 20-minute drive away or 12 minutes on the underground. The area is further complemented by the prime residential neighbourhoods of Holland Park and Notting Hill, both of which are within walking distance of White City Living.

Furthermore, White City Living boasts exceptional transportation links. White City and Wood Lane Underground stations are located next to the development’s entrance and are served by the Central, Hammersmith & City and Circle lines, allowing residents to reach Marble Arch in 10 minutes and the West End in 14 minutes.

Thoughtful design with the finest amenities

Homes at the Bowery have been thoughtfully designed and residents will benefit from smart interior spaces that are generously proportioned and bright, with many apartments offering views over the private Magnolia Garden. Apartments within the Bowery are finished to the highest specification, including kitchens with integrated Miele appliances and underfloor heating and comfort cooling.

As an extension of their home, residents at White City Living will have direct access to a wealth of facilities, which have been specifically tailored to the development. Many of these amenities can be found across the lower ground, ground and first floor of the Bowery, providing residents with direct access to the gym, spa, and swimming pool with adjoining sun terrace. Additionally, the Bowery benefits from being connected to Belvedere Row where the remaining residents’ amenities can be found, these include a private dining room, two 12-seater cinema rooms, a multi-purpose entertainment suite and a fully- equipped business lounge and meeting rooms.

The green centrepiece of a new destination

White City Living will feature eight-acres of gardens, designed by award-winning landscape architect, Murdoch Wickham. This will include water features and a five-acre public park, which will create a focal point for the neighbourhood. With planting for every season in the Magnolia, Autumn, Central and Spring Gardens, White City Living will feature contrasting and complementing colours all year round.

First residents at White City Living are expected to move in this summer. Prices at the Bowery start from £735,000 (about HKD 7.5 million).

 

Exhibition details:

Date: 25th & 26th May 2019 (Sat & Sun) Time: 11:00am – 7:00pm

Venue: Suite 3001, 30/F, Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Central, HK

 

 

For more information about the project, please contact JLL International Residential:

Mandy Wong, irp.hk@ap.jll.com, (852) 3759 0909

 

 

- ends -

 

About St James

St James was established in 1996, originally as a joint venture with Thames Water. Over the past twenty-three years, the company has established a reputation as a design – conscious developer which continues to regenerate sites and transform them into attractive developments whose design not only creates desirable places to live, but also has a positive impact on the environment.

St James is a proud member of The Berkeley Group, an acknowledged leader in the delivery of major UK urban regeneration schemes. The Group has been responsible for shaping much of the modern development along central London’s riverside, replacing former industrial areas with vibrant places to live, work and play. Dedication to quality and design is matched by a commitment to the communities the company helps create, and to the environment as a whole. 

About White City Living

Planning Permission no: 2018/02116NMAT granted by London Borough of Hammersmith & Fulham. Property ID: IRP_N_101_00309. Acquiring interest in an apartment in the building with 999 Years leasehold.

 

 

15 Oct 2019

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