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PanaHome Corporation launches Majesty House Shinjuku Gyoen Park Nade to leverage growth trend
HONG KONG, 13 November 2013 – Tokyo’s winning bid to host the 2020 Olympics is set to boost its property market and give a lift to investor confidence, playing into Prime Minister Shinzo Abe’s effort to drive Japan’s economic recovery.
Residential property values in Tokyo are projected to continue to rise in the next few years thanks to the Olympics effect giving a boost to the large-scale redevelopment of the Tokyo Bay area, expansion of the transportation system connecting Tokyo and its surrounding areas, and enticing investment opportunities to the city. In addition, the introduction of ‘Abenomics’ initiatives by Japanese Prime Minister Shinzo Abe, has resulted in the revitalization of the property market in the past year: Investment in Japanese REIT Public Offerings has increased five-fold since the period of April – September to October – March in the 2012 fiscal year, and the Public Offerings reached 400 billion Japanese Yen for the period of April – September in the 2013 fiscal year. In particular, a growing number of Asian investors have been attracted by the booming market. According to Jones Lang LaSalle research, there was a marked y-o-y 69.9% increase in the ratio of Asian investors among all non-Japanese investors in 2012.
In the diverse range of residential units in Tokyo, condominiums account for approximately 68% of all new supply. One highlighted condominium project currently under construction is Majesty House Shinjuku Gyoen Park Nade, a luxury residential project developed by PanaHome Corporation located in the heart of Tokyo. With 195 apartments sized at between 538 and 1,184 sqft (lettable), the project is slated for completion in February 2014.
Located approximately 50 meters from Shinjuku Gyoen National Garden, Majesty House Shinjuku Gyoen Park Nade offers residents a luxurious metropolitan way of life on the doorstep of the former imperial garden. A sense of distinct grace befitting the distinguished location of Shinjuku Gyoen National Garden underpins the development’s stoic appearance and restrained decor. The development is within ten-minute walk from five subway stations and in close proximity to Tokyo’s world-class urban culture, including Aoyama, a town of fashion and art, as well as Meijijingu Gaien, home to Japan’s National Stadium which is earmarked to be reconstructed as an all-weather stadium boasting a dynamic design.
Atsushi Kobayashi, Branch Manager at PanaHome Corporation, said, “Majesty House Shinjuku Gyoen Park Nade is one of our most significant residential developments this year. With its exceptional location and close proximity to the Olympics facilities, the development is destined to become an ideal investment option and an enticing living choice for people who embrace the Japanese luxury housing style.”
Mei Wong, Regional Director and Head of International Residential Properties for Jones Lang LaSalle Hong Kong, said, “Inquiries regarding Japan properties have risen around 15% over the past three months, driven by the promising returns on real estate investment amid a thriving property market benefitting from the Olympics effect and prospects of Japan’s resurgent economy. We expect Majesty House Shinjuku Gyoen Park Nade to lure enthusiastic interest from overseas investors.”
The sales exhibition of Majesty House Shinjuku Gyoen Park Nade will be held at the Tian and Di Room, 7/F, Landmark Mandarin Oriental, 15 Queen’s Road Central from 15-17 November, 11am to 7pm.
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