Housing Japan Magazine 2020 (vol. 14) by Housing Japan

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A Letter from our President Welcome to the 2020 edition of Housing Japan magazine. Itâ&#x20AC;&#x2122;s a very special year for us, as we celebrate our 20th Anniversary. Mitsuo Hashimoto President Housing Japan

WELCOME Welcome to the latest edition of Housing Japan magazine. Welcome, in fact, to a whole new world. Who would have thought that our entire world could be changed so dramatically and in such a short time? As I write this note, the Covid-19 crisis continues to unfold rapidly, no country or city immune from its deadly legacy. It is my sincere hope that you and your family remain safe throughout this period of turmoil. At Housing Japan, we were quick to switch to a work-from-home policy, and our dedicated team of professionals continues to support our valued clients during these difficult times. We remain committed to the real estate business in Japan and deeply appreciate your continued support. For many years, Housing Japan has been creating this annual magazine. We always aim to make it both current and lasting. To capture a sense of each year, we try to create articles that will convey where we are and where we are going but also feel as current six, nine and 12 months later. This year, with the arrival of the black swan event Covid-19, finding the right editorial balance has been a challenge. The Tokyo Olympics, the planned focus of this issue, have

been postponed. At this stage, the city looks set to host the Games in July and August 2021. We hope that everything goes to plan and that the XXXII Olympiad gives us all a chance to cheer and to celebrate the rebound from the current turmoil. We have kept some of our Olympic content, particularly about architecture—the old, the new, the revitalized—in the magazine. Whatever happens with the Olympics, these buildings will remain an enduring architectural legacy for Tokyo. It is likely that 2020 will be a tough year for many. It is certainly not the 20th anniversary year we at Housing Japan were expecting but we are proud of our team and achievements. Now, more than ever, it is good to acknowledge the talents and successes of our people. Beyond anything made of concrete, people are first and foremost what Housing Japan is all about—and, for that matter, what our world is all about. Stay positive. Be well. All our very best wishes, Mitsuo Hashimoto President Housing Japan

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Sam Bird

Alfie Goodrich

Ashley Silva

Sam has more than 10 years of marketing experience across real estate, travel, hospitality, luxury, technology, finance and publishing. He is currently responsible for all marketing communications for the Housing Japan group, supporting sales, leasing, residential hospitality, property management, investment, storage and asset management. A Japan resident since 2005, formerly in Niigata and now in Setagaya, Tokyo, Sam loves travel, snowboarding, hiking, Japanese food, art and the countryside.

With 10 years in the music business and seven years as a freelancer in the UK, Alfie has been in Japan since 2007. Based in Shinagawa, Tokyo, he is primarily a commercial photographer, who also works on design and editorial projects. He recently started presenting a travel programme for NHK World. He loves cooking, exploring Tokyo on foot, camping, reading, music and the sea. Alfie has been involved with Housing Japan magazine since 2016.

Ashley has spent the past six years working in New York City and Ebisu, Tokyo, mainly in technical product design and marketing design. She recently joined Housing Japan, where she is responsible for design and creative direction. In her free time, she is a manga artist. She enjoys singing and is a self-confessed fanatic of K-pop, enka (traditional Japanese ballads) and Britney Spears. She is obsessed with dogs and her passion is walking the back streets of Tokyo, looking for great food and a cool gin.

PUBLISHER Mitsuo Hashimoto

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COPYRIGHT All content of the Housing Japan magazine is copyright Housing Japan and/or its respective author. It is used here for editorial purposes. Although every effort has been made to ensure the accuracy of the content within this publication, some information, such as contact numbers and addresses, may change without notice. Housing Japan and Japanorama accept no responsibility for misrepresented content or other information within this publication. ÂŠ Copyright 2020

Managing Editor

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MANAGING EDITOR Sam Bird www.custom-media.com ASST. EDITOR Alfie Goodrich GRAPHIC DESIGNER Ashley Silva PRINTING E&E Holdings Company Ltd.

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COVER: Model: Yuki Katori. Photo by Alfie Goodrich.

CONTENTS

PROPERTY

TOURISM

11 PROPERTY UPDATE A look at

22 AMAN KYOTO See the stunning

Tokyo’s real estate landscape now and post-Covid-19.

results of 20 years of planning, design and development.

12 MARKET REPORT Exploring

39 NISEKO New transport links

the market in 2020 and the future of real estate in Tokyo.

27 HOUSING JAPAN AT 20 We talk to the men who started it all.

48 ZENITH AKASAKA We take you

on a tour of Housing Japan’s recent luxury creation.

66 ALT STAY Playing the long game in short-stay property.

81 URBAN DEVELOPMENT A bold future for Shibuya.

and expansion boost resort.

44 NATIONAL PARKS Exploring

the greatest eight of Japan’s stunning natural parks.

58 ALPINE RESORTS An outline of the latest developments and plans for Japan’s premier alpine resorts.

LIFESTYLE

WELLNESS

GUIDE

18 LONG-LIFE DESIGN Interview

30 THE GREAT ESCAPE We talk

54 AKASAKA, TORANOMON,

with founder of D&Department Project, Kenmei Nagaoka.

34 ARCHITECTURE Something

old, something new: the architectural highlights of the Tokyo 2020 Olympic venues.

with Modern Escape Japan and hear about their wellness retreats.

76 WELLNESS TOURISM How

can Japan maximise its bounty of treasures and traditions?

KOJIMACHI Discovering the best of these city-centre neighbourhoods.

72 ASAKUSA, KURAMAE,

ASAKUSABASHI Walking north along the river and in the back streets.

PROPERTY Tokyo

PROPERTY UPDATE

A look at Tokyo’s real estate landscape now and post-Covid-19 by Joe Rigby

CEO, Housing Japan

The Covid-19 pandemic has impacted property markets around the globe. Tokyo is no exception. On April 7, a state of emergency was declared in Tokyo and six other prefectures, resulting in the implementation of a “soft lock-down.” The public was asked to stay home as much as possible and reduce interaction with other people by 80%. The declaration was extended nationwide in mid-April and lifted in late May. Although the restrictions were not legally binding, as in many other countries, the public has generally cooperated. The impact has been a significant reduction in economic activity. At Housing Japan, we were working from home where possible when the declaration was made, so were able to quickly adjust our business to the new work style. We continue to operate business as usual, helping clients across our leasing, sales, investment and property management businesses. As you would expect, we have seen a drop-off in our short-term leasing business as many inbound clients have changed their plans or put them on hold. However, we are seeing new demand for

leasing our furnished apartments from local clients who seek “private offices” due to difficulty working from home. Our residential leasing, which was very busy with Olympic-related business prior to the outbreak, continues to be engaged in local moves. In residential sales, we have seen less interest from offshore investors who are no longer able to travel to Japan. Still, the business continues to execute transactions and the market remains active; we received a number of new purchase applications from both Japanese and offshore investors in April. So far, we have not noticed any significant increase in clients’ interest to sell. Housing Japan’s self-storage business, Trunk Room Tokyo, continues to perform strongly. The self-storage sector user base is mostly Japanese, and demand may even be rising due to greater periods spent at home. We continue to like the self-storage sector for its high yield and stable cash flow. Of the other sectors, we expect that office, hospitality and retail are likely to take the biggest hit from the crisis. From our own experience at Housing Japan we see that, even post-pandemic, many people are likely to continue to work from home.

It is possible that long-term demand for office space, particularly large floor plates, could drop considerably. On the other hand, people might rethink their home environments, causing a structural increase in demand for residential property. Nationwide, the hospitality sector is under pressure. The collapse in demand from inbound tourism is causing many operators and properties extreme financial distress. We expect there will be opportunities for cashed-up investors to acquire good assets at discounted prices. Our investment team has already sourced a number of interesting opportunities that should deliver excellent returns as the crisis recedes and hotel demand returns. To a lesser extent, the same is true of the commercial real estate sector, and opportunistic investors should be looking for distressed opportunities now. Housing Japan remains committed to serving our clients with all their real estate needs. The pandemic is a terrible crisis that has resulted in much suffering and turmoil. It will resolve over time though, and new business opportunities will emerge. We look forward to supporting our clients proactively through this period of rapid change.

PROPERTY interview with Mori Nishimura, Sales Division, Housing Japan

Tokyo Market Report, 2020 Tokyo’s property market in 2020 would have been very bullish had the Olympics been held, but the Covid-19 pandemic has upended that scenario. The unfortunate delay of the Olympics has been overshadowed by the complete shutdown of inbound tourism and a state of emergency in April and May. The resultant economic impact is only starting to play out. Although it is still very early to predict the longterm impact of the virus, it is likely that buyers will find residential and commercial acquisition opportunities. So far, sectors have been affected variously. The hotel sector has seen an immediate negative impact from the collapse in demand, and we will likely see non-performing assets come on to the market as early as summer 2020. Investors should use this opportunity to acquire prime assets or assets at significantly reduced prices. Alfie Goodrich (AG): Nishimura-san, setting Covid-19 aside, could you describe some of the major trends we have seen in the Tokyo residential market recently? Nishimura Mori (NM): Since Tokyo won its bid to host the 2020 Olympics, prices for new apartments and condominiums have been rising. Together with the government’s easing of monetary policy and consistently low interest rates, this has created a prosperous marketplace in Tokyo, especially. Over the past couple of years, we’ve seen shortages of construction materials and labour because of events like the 2019 Rugby World Cup and the Olympics. Both shortages have caused construction costs to rise. Competition for land is also quite fierce. According to the chika koji (Commercial Government Assessed Land Values) price report, land prices are currently rising

at levels not seen for almost 25 years, although this applies more to the commercial sector than the residential one. Developers have been scrambling to find land, building but not selling aggressively, meaning they have plenty of stock but are trying to avoid an oversupply of units. One reason is the high price of new apartments at the moment. Sales of new apartments are slowly decreasing, and buyers are flowing to the second-hand market. For the first time, the market has more second-hand properties than new. Yet developers aren’t in a rush. They believe the price of land and the price of construction aren’t going to decrease anytime soon, so they continue to acquire land and build on it. Sumitomo Realty & Development, in particular, have a very large apartment stock in Tokyo but aren’t particularly in a rush to sell. Another trend is that major developers such as Sumitomo, Mitsui, Mitsubishi, Daiwa and those based abroad, notably Pembroke & Grosvenor, are entering the “refurbish and sell” market. I have had many acquisition specialists tell me they are having an extremely difficult time acquiring developable land, and they don’t know what to do. In other words, the developers’ margin for new build development has diminished. They are turning to refurbishing. Though once not a business for them, it is now something they are going to have to learn to do. AG: What are the most significant investments from overseas in Japan’s residential property sector right now? NM: We’ve just had an announcement by Blackstone which is very significant. They have paid a record price—around $2.7bn—to buy back a

Hikawa Gardens Akasaka, developed by PEMBROKE

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multifamily portfolio of property which they sold to Anbang in 2017. Most of the folio consists of multi-storey residential blocks across Tokyo and Osaka. Over the past two years we’ve seen Blackstone deploying capital from their $7.1bn Asia Real Estate Fund II. Their buyback of the Anbang folio is significant for the Japan market. Blackstone is certainly one to watch in both residential and commercial property. Another would be Starwood, which has a very mixed and balanced portfolio, with a lot of residential property and hotels. Starwood is definitely a company to watch, as they recently re-opened their Tokyo office—in December 2019—after closing it in the early 2010s. AG: How is the commercial property sector affecting the residential property sector? NM: Well, the two sectors have traditionally been connected. More offices mean more workers, and they all need somewhere to live. It will be interesting to see how Covid-19 impacts the office market. Many staff and firms have now experienced working from home and, even after the crisis, it is likely that more people and businesses will opt for the work-from-home model. This could have a negative impact on office demand. It is hard to know yet how big that impact might be. Another potential negative influence on office demand is the co-working business model. It is industry knowledge that the marginal demand for office space over the past couple of years is the result of the rapid expansion of WeWork and other co-working space providers. This model is under pressure now because of Covid-19 and the financial health of WeWork. The expected drop in demand is likely to be a drag on the office market in the medium term.

AG: Tell us a little about the rise of the second-hand property sector. NM: Japan has traditionally operated a “scrap and build” approach to development. This has nothing to do with the quality of buildings, as well-built wooden homes in Japan can last for 100 years. It has more to do with the real estate laws in Japan that have kept the scrap and build tradition going. In Japan, the seller is generally liable for any “hidden” defects found after selling the house. Even if there is a clause stating that the seller is liable for defects, the seller may not have the funds for repair as they generally have used up their savings in purchasing their next home. Therefore, when considering a second-hand home, the buyer is left without any suitable “insurance.” This situation scares people away from the second-hand market. Understandably, the process is also stressful for the seller. Therefore, it is common for people to simply tear down the home and sell the land (in the case of single-family homes). However, with a growing number of vacant homes and scarce land in CBD areas, in particular central Tokyo, the second-hand market is now required to be more attractive in order to solve these issues. To aid this, the government has been moving swiftly to create a more liquid, transparent and less hassle-free second-hand market and a system of home inspections. From April 2018, brokers handling sales of homes have been obliged to ask the seller and buyer whether either will conduct inspections (building condition surveys) of deterioration, such as cracks and leaks of the exterior. Obviously, this won’t change singlehandedly the second-hand market, but it is a small step in the right direction.

Hikawa Gardens Akasaka, developed by PEMBROKE

AG: How else is central government helping the housing market, particularly in the area of used and refurbished housing? NM: The Ministry of Land, Infrastructure, Transport and Tourism is planning to give public IDs to second-hand homes sometime this year and start a system to record information such as transaction prices. It can be difficult to track past transaction prices of real estate in the current market as not all transactions are obliged to be recorded. We’re also seeing the emergence of lower interest rates for refurbished properties. If a property meets certain requirements, such as being earthquake resistant or barrier-free or having improved insulation, purchasers will be able to obtain loans (Flat 35 Loans) at low interest rates. Given how the increasing number of vacant houses has become a problem for cities, the government will provide policy support to make it easier for existing homes to be traded. Flat 35 Loans are mortgages with fixed interest rates for up to 35 years. Most conventional bank loans only have fixed interest rates for the first 10 years, after which they become variable. These new type of loans and new approach to refurbished housing from government are two very significant recent developments.

doing so, too. They’ve been having a difficult time finding land, and it can be an extremely convoluted and lengthy process to tear down older buildings as 80% of residents must agree on the demolition. A good example of a recent and successful refurbishment project in central Tokyo is Hikawa Gardens, Akasaka, by Pembroke. Pembroke acquired the land and developed an apartment building in the early 2000s. After more than a decade of highly successful operation as a rental, Pembroke strategically removed the tenants, freeing it up for refurbishment. The building was successfully and creatively refurbished as for-sale apartments, and sales have been brisk. The Tokyu Land Corporation is also seeing success with redevelopment projects, particularly their recent project Majes Tower Roppongi, which was also previously a rental-only apartment. The premium units on the top three floors (25–27F) have sold for ¥8-9m per tsubo (approximately 3.3 square metres). For more property market information, property listings and real estate market news, visit our website at: housingjapan.com

AG: Is the increased focus on refurbishing older properties confined to the everyday buyer or are development companies looking to add this sort of stock to their portfolios? NM: Luxury residential developers are also moving towards the second-hand trend. Not only is it becoming more the norm for private buyers to purchase second-hand homes, developers are

LIFESTYLE D&Department Project

LONG-LIFE DESIGN Interview with founder of D&Department Project, Kenmei Nagaoka Photos: Alfie Goodrich & D&Dept.

Founder, Kenmei Nagaoka

D&Department Project’s manifesto lists 10 criteria of “long-life design,” designs that can be used for a long time. At the entrance of their store in Kyoto, you’ll find a sign listing five of them: Know: We know the maker. Use: We use the product. Buyback: We can buy back the product. Longevity: The product is repairable. Continuity: The manufacturer will continue making the product. For anyone aged 50 and over, these criteria perhaps offer a tantalising glimpse back in time, to the retail world of our youth, a time before “planned obsolescence” and the “throwaway society.” Long-life design is central to the ethos that drives D&Department. Its mission is to identify and re-evaluate the uniqueness of Japan’s 47 prefectures and their local designs through the sale of goods and food, as well as the promotion of tourism. Founded in 2000 by designer Kenmei Nagaoka, D&Department Inc.—which operates D&Department Project—has 12 stores in Japan, one in China and one

in Korea. It also has a showcase at Japan House Los Angeles. Ultimately, D&Department plans to have a shop in each of Japan’s 47 prefectures. Of those operating currently, the Toyama and Kyoto outlets are directly managed, while those in Hokkaido, Shizuoka, Saitama, Kagoshima, Okinawa and Yamanashi are franchises. In Tokyo, D&Department has a store in Setagaya Ward, as well as the d47 design museum, the d47 design travel store and the restaurant d47 shokudo in Shibuya’s Hikarie building. “As a designer myself,” comments Nagaoka, “I’m naturally curious about all design. Much of it I didn’t like. For me, the concept of long-life design, the heart of D&Department’s philosophy, was partly born out of me not wanting to be someone who designs what inevitably gets thrown away or even what is designed from the outset to fail. “Part of why I started D&Department was to communicate to people that with every design there is a tripartite arrangement between consumer, designer and manufacturer. The age of mass produc-

tion is over. Our philosophy is designed to positively contribute to the health of society, by identifying good design and long-life design and encouraging everyone to consume these kinds of products, thereby encouraging everyone to waste less.” The company is striking a balance between valuing good, long-life design and celebrating new design. “I have to believe my intuition,” says Nagaoka. “After so many years I can see at a glance what makes a great design. Many of the products we are working with have been around for a very long time. Maybe you’ve seen the labels we have on these sorts of products? They show the number of years each product has been manufactured. It helps customers understand the longevity of what they are about to buy. “Each time we look at something, to decide if it will be in our store or our books, we must look at it with the strict philosophy we have—and that I personally have. Many times, I say no. Perhaps the window for designers is very narrow, but I must trust my feelings.”

The firm’s D-Design Travel arm publishes exquisitely crafted guides, each dedicated to a prefecture of Japan. To date, 26 prefectures have been covered and, with two guides coming out each year, D&Department plans to finish the project in about 10 years. From the sixth volume of the series, the company has received some prefectural government support. The company’s latest book, dedicated to Ehime Prefecture, was released in April. It follows the same simple but effective template as all previous volumes: introducing the region via sights, restaurants, shops, cafes, hotels and people. D-Design Travel’s Editor-in-Chief Hideto Shinto elaborates: “For every issue we make, we live in the area for about two months, and gradually realise the ‘feeling’ of that place. The lives of the people you encounter there are rich in individuality. This is natural for the people there, in their area, but in some cases its importance can be neglected.” Alongside the release of each new magazine, the d47 museum in Shibuya typically has a three-month exhibition of a selection of goods and design. The d47 shokudo also serves food from the featured area in its weekly menus.

“Our philosophy is designed to positively contribute to the health of society, by identifying good design and long-life design and ... encouraging everyone to waste less.”

The latest exhibition is on Ehime. Shinto continues: “This venue displays tools, daily necessities, handicrafts and some pieces of architecture that are used in Ehime. Most of the exhibits are those encountered by the editorial department during the production of the book, and all of them have history and evolution. The more you know, the more interesting Ehime becomes and the more you understand the long-life design that makes up the place. We hope that you will be able to learn about existing designs unique to Ehime Prefecture through the exhibits and go on to travel through Ehime Prefecture and feel the importance of the individuality of each land.” “Each book has a kind of standard production cost,” says Nagaoka. “We approach the Prefectural Government, to ask them to contribute. Most do, some don’t. But most times, even if there is no contribution from the government, we go ahead and make the book anyway. With the length of time, effort and organisation that goes into making each book, we make only two each year. Ehime is our 27th book. That leaves us 20 more to make. I may even go back and re-make some of the early ones, as they were bigger. Since about the sixth volume, we’ve made sure to standardise the number of pages, so each prefecture gets the same

space, the same attention. Our books are kind of a long-life design as well!” Learning at Shibuya Hikarie With a diverse showcase of products, food, events, culture and design, D&Department’s presence on the eighth floor of Shibuya Hikarie is worth a visit. It’s easy to while away hours without noticing the time pass. If you’re planning a trip outside Tokyo, the d47 design travel store has four rows of shelves filled with binders badged-up by region, each one full of pamphlets and information (many multilingual) about places to stay, eat and visit. For those wanting to discover more about each region of Japan, and how to make the most of it when you get there, a trip to d47 makes a refreshing adjunct to the kind of online research we’re all now so used to. To sit surrounded by designs, products and food from throughout Japan—whilst researching where best to go in the country to discover and experience more—sums up perfectly the experience and mission of D&D. The d47 shop, museum and restaurant is located in Shibuya Hikarie. For more information about events, store opening times and to shop online, visit: www.d-department.com

TOURISM

AMAN KYOTO

See the stunning results of 20 years of planning, design and development Photos: Aman

The core philosophy of Aman has changed very little since the brand opened its first retreat on the island of Phuket, in 1988. An Aman property is all about exclusivity, privacy, peace and wellness. Staying with Aman should be transformative and awe-inspiring. The brand’s latest Japanese property, set in 72 acres of secluded natural forest in Kyoto, is certainly both. Housing Japan takes a look. Kyoto rightly occupies a unique place in the travel itinerary for anyone visiting Japan. As the country’s traditional and ancient capital, it has a rich history. Spared the ravages of WW2 air-raids and benefiting from strict urban development guidelines, Kyoto brims with traditional Japanese architecture, charming streets, countless temples, numerous gardens and a number of stunning castles. On the flipside, Kyoto has also attracted a lot of attention for being overcrowded. So, whilst Aman’s latest offering is in Kyoto, the first thing that strikes you is its location. Tucked away in one of the city’s quieter corners, the property is away from the hustle and bustle, at the

foot of a mountain. It is surrounded by nature, yet within easy reach on foot of many of the city’s most well-known attractions. Aman Kyoto, as you would expect, is a property that fits breathlessly into its surroundings. Designed by Kerry Hill, the late Australian architect behind many of Aman’s projects, the property also features a Kerry Hill Garden. The green oasis is quiet, contemplative and moss-covered, with a memorial plaque to Hill, who passed away in 2018. The resort is situated in a once-forgotten secret garden, hidden at the foot of the symbolic Mountain of Hidari Daimonji in Kyoto’s north. The 80-acre site comprises 72 acres of forest and eight acres of exquisite gardens lovingly tended over decades by the previous owner, who was one of Japan’s most respected collectors of obi (the ornamental sash worn with kimono). His unrealised aim was to house his collection in a textile museum to be built within the garden. Now, 20 years after his death and the passing of the land to Aman, the brand is honoured to be the garden’s next custodi-

“ ... situated in a once-forgotten secret garden, hidden at the foot of the symbolic Mountain of Hidari Daimonji ...”

an, giving it a fresh lease of life and protecting its fragile grounds for decades to come. Being in Aman Kyoto, like in all Aman properties, is an experience for both mind and body. Architecture blends beautifully with the surrounding environment, and internal spaces bring in the outside while offering seclusion when needed. The natural spring water that flows near Aman Kyoto is central to the philosophy at the resort’s Aman Spa, and something of great rarity in the region. Traditional onsen (hot spring) bathing facilities, using water from a local spring, deliver relaxation and healing in their purest forms, while a range of treatments tap into Japan’s plentiful natural apothecary, including Kyoto green tea, Tanba kuromame (black beans), local sake and cold-pressed tsubaki (camellia) oil. The Aman Kyoto Signature Journey massage, for example, is a restorative experience that uses local oils, essences and fragrances, many of which are part of the traditional beauty regime of Kyoto maiko (apprentice geisha).

Each of Aman Kyoto’s 24 guest rooms and two villas is a contemporary reimagining of the traditional ryokan. Strikingly minimalist in their design, the rooms have floor-to-ceiling windows framing the natural surroundings, tatami mats covering the floors, and tokonoma (alcoves where items for artistic appreciation are presented) that provide a subtle focal point. The interiors are spacious and light-filled, each ingeniously crafted to foster peace, relaxation and contemplation. Aman Kyoto’s signature restaurant in the Dining Pavilion is rapidly becoming a landmark addition to one of Japan’s most celebrated gastronomical regions. Executive Chef Kentaro Torii conjures up options for various palettes: homecooked obanzai (a traditional Kyoto cuisine using mostly local ingredients), Japanese haute cuisine and western style dishes, all with those well-established and playful Aman touches. When not in the kitchen, Aman Kyoto’s chef will likely be found outside, foraging in the gardens or nearby forests for local ingredients such as chestnuts or sansho (pepper) leaves. The garden itself

is ideal for outdoor events, from small private dinners and functions, to weddings, yoga and mindfulness sessions. If you’re travelling with children, there are extensive grounds for them to explore, as well as many specially designed experiences and activities. Other travellers can enjoy various tours, wellness and local experiences, including private meditation sessions with a local Buddhist priest, cycling by electric bicycle around local attractions, ikebana (traditional flower arranging) and exclusive access to a local maiko house. Vladislav Doronin, chairman and CEO of Aman, said, “Following on from the success of Aman Tokyo and Amanemu, Aman Kyoto adds another distinctive facet to our continued journey and commitment to Japan. Aman Kyoto embodies the true spirit of Aman, blending our profound respect for nature with adherence to simple, yet striking, principles of aesthetics and structure, masterfully brought to life by the late Kerry Hill and his team. We look forward to unveiling the many dimensions of Kyoto through the eyes of Aman

and sharing the secrets of our enchanting garden.” Part of its Japanese portfolio, Aman Kyoto is owned by Kyoto Resorts, a subsidiary of the Chartered Group, which has been the driving force behind this project. Eyal Agmoni, chairman of the Chartered Group, said: “With the utmost care, craftsmanship and dedication, this garden sanctuary has been over two decades in the making so we can open its doors as an Aman. I am especially grateful to those who have created an architectural language that not only respects traditional Japanese design, but also celebrates, protects and brings back to life the unique gardens in which Aman Kyoto is housed. I have no doubt that this resort will be met with positive global interest and will set a new hospitality standard in Japan.” For more information, photos and details of how to book your stay, visit: www.amankyoto.com

Housing Japanâ&#x20AC;&#x2122;s 2017 re-design of the spectacular Churis Akasaka.

PROPERTY

HOUSING JAPAN at 20

We talk to the men who started it all Photos & Interview: Alfie Goodrich

With a diverse and dynamic portfolio of interests that includes rental, sales, new-build, short-term let, hotels and asset management, Housing Japan has become a veritable one-stop-shop for all things related to property. We talk to co-founders Joe Rigby and Mitsuo Hashimoto about the company. Alfie Goodrich (AG): So, how did it all start? Joe Rigby ( JR): Well, I was working in banking at the time and I’d just relocated back to Japan from Hong Kong and was looking for an apartment. I met up with an agent, who took me around a few properties, and they did such a terrible job. I came back to my desk and was complaining to the guy sitting next to me, who was also one of the original founders, and asked him, ‘We can do better than this, right?’. He said we should meet his friend, Hashimoto-san, and talk about it. That was how it all started. Hashimoto-san and I met and, as the old cliché goes, the rest is history.

AG: Hashimoto-san, what were you doing at that time? Mitsuo Hashimoto (MH): I was working in an expat rental company, specialising in residential for expats. Joe and I met, and I was then able to help him and a couple of his colleagues find properties. Joe and I talked about some ideas. It all started pretty quickly after that. AG: Joe, how quickly were you able to realise your goal? JR: Well, we started out as a very small business. The thing that enabled us to quickly grab a foothold in the market—a mature market with a lot of established competitors—was that we were the first company to set up a website with information about Japanese real estate in English. No one had done that before. It seems almost trivial now but, back in 2000, when web users were just graduating from Netscape, it was a big thing. AG: In the beginning it was as simple as that?

JR: Well, sure, it sounds simple now, but that was a big leap then. That’s what often characterises the best ideas: they’re simple. From the first day we put information on Tokyo apartments on the web in English, the phone started ringing. Because we were that crucial step ahead, we had a business overnight. In the way we do things, to this day, we try to deliver to people the best information, in the best format we can. That was the impetus for us 20 years ago, too, and has been an edge for our business throughout these 20 years. AG: Moving on from these important foundations, can you briefly explain the evolution of Housing Japan? JR: We started as a leasing company but soon found many of our clients were living in Japan on a long-term basis and wanted to buy property. So, we were very early in the market with expat sales, introducing Tokyo properties and helping people purchase them. There was virtually no one doing that at the time. Then, as people purchased

but subsequently left Japan, they needed someone to do property management. We set up a property management team and now manage close to 500 properties for owners who live in Japan and offshore. We also have a branch of Housing Japan in Singapore, to communicate with clients there. We’re now developing expat-style luxury villas in Tokyo and have had great success doing that, first with our Gravitas project, now with our new Zenith property. And there are more coming. MH: Short-term rental is a key area for us now. In the current real estate market, prices have gone up a lot and the investors are looking at the yields of Tokyo properties, which have come down. If the yields go down, there’s no big appetite for investing. Therefore, we wanted to create a product whose yields are high. One of the products we thought about was STR or short-term rental. It’s sort of a hybrid between a long-term residential property and a hotel or serviced apartment. We started doing STR as a monthly thing, which increases the yield, averaging about 1%. Now we’re also fo-

cusing on daily STR properties, which will further increase yields as operational and management costs go down. Our model is essentially ‘innovate and create,’ always trying to think about how to deliver a good product to the investor. AG: How has the team grown over the past 20 years? MH: Well, it started with just Joe and me. In this office now we have close to 60 staff: 12 on the asset management side and around 50 in Housing Japan. AG: Hashimoto-san, in the past 20 years of Housing Japan, is there one achievement that you’re most proud of? MH: Everything! But I guess, if it has to be one thing, it’s that we can think about good ideas and, most importantly, act on them very rapidly. Other companies take time. They think of the downside, the risks. Whilst we also obviously think about risk, we think more about the upside. Creating something from nothing, acting on it rapidly, bringing it to market, delivering a return for the company and for our investors—this is what I enjoy most about Housing Japan.

AG: Is there a secret to how it has worked out so well? MH: I don’t know. I’ve been in the real estate environment for close to 30 years now. Joe spent a lot of time in the financial sector. These two areas of individual expertise proved to be a good marriage. I didn’t really understand what yields were, and Joe explained it to me. I explained about the real estate side of things to him and we connected. That chemistry is really what has made it all work well so far. AG: Going back to something discussed earlier; biculturalism. Do you think the bicultural aspect of the business has also fed that ability to respond quickly and implement new ideas? MH: Absolutely. We have employees from around the world, from Australia, England, Italy and China, for instance. We need to think about situations quickly, respond quickly and keep the organisation comfortable. The market can change quickly, or we need to change it quickly. We need to flexible, and having a multi-cultural team is a crucial part of that. As an expat-focused real estate

company in Japan, Housing Japan is not unique. There are perhaps 10 or so other companies out there like us in that respect. But, of all of them, I think we are certainly the most international company in terms of staff. I’d say the majority of the other expat real estate companies are still made up of a majority Japanese staff.

we’re not afraid to try new things. That ability and attitude is crucial. The ethos of the business is that we want to keep on growing and, at the same time, keep trying new things for our clients.

JR: Here at Housing Japan, with our staff roster, we’re a shade over 30% non-Japanese. But on top of that, all members of our Japanese team have international experience, having either lived or worked overseas. Our clients are a mix of Japanese and non-Japanese. As important as having an international staff is, the fact that we have locals with international experience and an international mindset is also very important.

MH: We have some really exciting things in the pipeline for the future! What we can talk about is our Gravitas project. When you look at the average price of building a new house in central Tokyo, it’s somewhere between ¥100–200m. For people who are wealthier and want something bigger, better or different to that? Well, there isn’t really so much choice. That’s why we started building our Gravitas series. The very first Gravitas was ¥650m and the next one we build will probably be around ¥1.2bn. We’ve signed a deal with a company for building soon, which will be anywhere up to around ¥2bn.

AG: So, Joe, a highlight of the last 20 years for you? JR: Like Hashimoto-san, I’m very proud of the diverse team that we’ve created and of our risk-taking culture. That’s something that’s very valuable to us. Don’t get me wrong, we’ve made a lot of mistakes. Over the years we’ve tried a lot of businesses that haven’t worked but

AG: Thinking about the future, is there an exciting project you can talk about?

JR: And the fact that Housing Japan has sales, leasing, asset management—all these diverse but interlocking pieces— puts us in a great position to drive, manage and complete new and ambitious

projects. To be honest, we don’t really see ourselves as competing with other expat property companies here in Japan. Aspects of Housing Japan put us into the same territory as CBRE, Savills, Ken Corporation Ltd and even Mori Building—which is also a client. Our unique business model could be summed up with the words ‘inbound’ and ‘real-estate.’ It involves taking overseas and expatriate investors and clients and interfacing them with the Japanese property market. And we don’t just do homes anymore. We do storage, we have short-term rental, we introduce investors, we manage a portfolio of hotels for investors. The storage business portfolio alone is valued above $50m and 99% of its users are Japanese. We’ve evolved beyond just being an expatriate real estate company; we do asset management and asset creation. Housing Japan is a company that’s a combination of financial and real estate expertise. We have a diverse range of services and products, but we don’t ignore our roots, which is expat residential; that’s still a big part of what we do.

WELLNESS Modern Escape Japan

THE GREAT ESCAPE

We talk with Modern Escape Japan and hear about their wellness retreats Photos: Alfie Goodrich & MEJ Wellness tourism is coming into sharp focus as an area of huge potential growth for Japan. And not all of that growth is coming from inbound tourism. Wellness in the workplace is increasingly important for Japanese businesses, and a happy workforce is one that can escape from job-related stress. With retreats in the tranquil countryside of Japan, Modern Escape Japan (MEJ) offers opportunities to get away from it all. We spoke to Menya Hinga, co-founder; Joey Wu, co-founder and yoga instructor; and Hidetaka Mizohata, participant, to find out more about what is making MEJ the go-to choice for a break from the hustle and bustle. Housing Japan (HJ): Menya, tell us about MEJ. Menya Hinga, Founder (MH): Modern Escape Japan is the brainchild of all the founding members. For me, the idea sprung to life when we did our first SOGO Fitness retreat to Okinawa back in 2016. SOGO is a not-for-profit fitness group,

predominantly for foreigners in Tokyo, which I set up some time back. It was after that trip that I realised there was an opportunity to offer similar retreats all over Japan, which is full of tall mountains, beautiful beaches, dense forests and breathtaking Japanese landscapes just waiting to be explored. HJ: What would you say defines a Modern Escape customer? MH: MEJ participants are friendly, outgoing and span all ages. They join us to get out of the city, connect with nature, re-energise and connect with themselves and others. Our participants are generally curious about how their health can be improved and sustained through a pattern of regular exercise and healthy food. Thatâ&#x20AC;&#x2122;s exactly what we share at our retreats. HJ: Is Modern Escape Japan solely based around out-of-Tokyo retreats? Or do you have events in the city? MH: As the name suggests, our retreats occur outside urban environments. We believe in the restorative power of nature so,

although our trips include many group activities like outdoor yoga, guided meditation and short hikes, we also prioritise time for being alone to take naps, read or forest bathe. HJ: How do you pick locations for your retreats? Are they places your team know and love? What makes a great destination for an MEJ retreat? MH: Weâ&#x20AC;&#x2122;re regularly exploring new locations but, generally, the locations we pick are surrounded by nature, where our participants can unplug their minds from their busy lives and reconnect. HJ: What do you think makes the retreat-style of event, i.e. getting away from it all, uniquely helpful to those who join? MH: Our retreats are full-service, with comfortable accommodation, specially designed healthy food and carefully crafted wellness programmes that include activities focusing on both the body and the mind. In a typical day, you can expect an early morning that starts with meditation, yoga and a healthy breakfast, followed by more active group activities, such as hiking and guided fitness. Through these activities, our customers make new friends who are like-minded. Our foods are carefully designed, with a focus on whole foods, plants and

natural ingredients. Some of our customers call our retreats “the perfect healthy holiday getaway.” HJ: How did the Modern Escape team come together? MH: Our team is made up of four fitness and health professionals, all very passionate about sharing their experiences in living a sustainable life through healthy food and exercise. We all bring different expertise: I am a full-time health coach, Risa is a full-time Pilates instructor, Joey is a yoga teacher and Elma is an ultra trail runner. Our shared passion naturally brought us all together. A passion for fostering a healthy mind and body is a theme that Joey Wu, head of PR for a global finance company, puts front and centre for how and why she got involved with MEJ. HJ: Joey, why did you get involved with MEJ? JW: Living in the city, we all have one thing in common: stress, whether it is about our work, relationships or responsibilities. Yoga and being a yogi (which I’ve been for many years now) is something that has kept me physically fit and helped me reduce stress whilst I’m working hard. In the international yoga community, it is very common these days to take off to a remote place

and spend a few weeks unplugging yourself. This type of healthy holiday is becoming popular even among people who don’t do yoga regularly. I’ve been to Thailand, Australia, the US and various places to do that. In Japan, beyond a few teachers doing ad-hoc retreats, there has never really been the kind of organised yoga retreat scene that there is elsewhere. About a year or two ago, I got to a point in life where I just had too much stress. Around this time, my teacher from the US booked a venue in the countryside near Mount Mitake where a bunch of people, including myself, did a retreat. The healing power was so powerful it got me thinking, wow, Japan really needs to get organised to do more of this kind of thing, and I want to help other people who can really benefit from this kind of experience. Like a lot of great things that happen in life, at the same time I was thinking about this, I got connected to Menya, who was doing great things with his SOGO group. We talked and it was obvious he’s so passionate about all of the same things I’m passionate about. So, we said, “OK, let’s do it.”

treats here in Japan, where we’ve got so much wonderful nature to enjoy. HJ: Hidetaka, what was it like being on one of MEJ’s retreats? Hidetaka Mizohata, participant (HM): I’m a city dweller, with a busy corporate job in Tokyo. Any opportunity to get out of the city into nature is something I’ll always be keen to take. Getting away from it all with a group of like-minded people, to do activities together—yoga, meditation— and eat great food, prepared with the express purpose of being healthy and nutritious, was so refreshing. It’s so easy sometimes, in a busy corporate environment, to feel alone with your stress. But after I came back to the city and went back to work, the retreat experience stayed with me. I felt connected and less alone, more like I was part of a group of people who shared my passion for keeping my mind and my body healthy. Find out more about Modern Escape Japan, Menya, his team and their upcoming events by visiting the group’s website at: www.modernescapejapan.com

Other people came on board with their individual specialities and that’s basically how MEJ came about. There were shared passions and a desire to create re-

ARCHITECTURE Tokyo 2020

TOKYO’S OLYMPIC VENUES Something old, something new: the architectural highlights of the Tokyo 2020 Olympic venues Photos: Alfie Goodrich

In late March, the decision to postpone the Tokyo Olympics was taken. The XXXII Olympiad is now set to open on 23 July, 2021 and will close on 8 August. The Paralympics commences on 24 August. Its closing ceremony will be on 5 September. Globally, much remains to be overcome between now and then. It is our hope that the world is fit, ready and able to visit Japan next year. The Games: some facts and figures • 339 events in 33 sports. • 50 disciplines. • 5 new sports (baseball/softball, karate, sport climbing, surfing and skateboarding). • 11,000+ athletes from 206 nations. The venues Of the 33 competition venues in Tokyo, 28 are within 8 kilometres of the Olympic Village. Eleven new venues have been constructed. Venues are split into zones. The Heritage Zone has seven venues for nine sports, located within the central business area of Tokyo, northwest of the Olympic Village. Five are existing venues; some were constructed for the 1964 Games. The Tokyo Bay Zone has 13 venues for 15 sports and is located primarily in the Ariake and Odaiba areas. Outlying venues, as far afield as Izu, Saitama and Fukushima, will hosts sports ranging

from sailing and shooting to baseball and cycling. There are seven football venues located across the country, from Tokyo to Sapporo. The Imperial Palace grounds will host walking events. National Stadium Location: Shinjuku Ward Architect: Kengo Kuma  Capacity: 68,000  Sport: Opening/closing ceremonies, soccer, track and field The early history of the main stadium project for Tokyo 2020 was beset with controversy. In 2015, after Zaha Hadid’s designs were rejected because of cost and complexity, the Japanese government decided to rebid the site and asked designers to partner with local contractors who could estimate timeframe and cost. Kengo Kuma won in a partnership with several major groups including Taisei Corporation and Toyo Ito. The project broke ground in 2016. Kuma’s timber centrepiece for the Games, despite early criticism, has drawn wide praise for its simplicity and elegance. It was designed as a collection of pieces of wood that are small in diameter. The facade consists of overlapping, multi-layered eaves made of wood from Japan’s 47 prefectures, and the roof features a truss structure that combines steel beams and laminat-

ed lumber. Finished in November 2019, eight months ahead of schedule, the stadium was officially unveiled in December. Olympic Aquatics Center Location: Tatsumi-no-Mori Seaside Park, Tokyo Architect: Yamashita Sekkei Inc. & Cox Architecture  Capacity: 15,000  Sport: Swimming, diving, synchronised swimming Completed in February, the aquatics centre features a stunning roof and glass facade and is one of the architectural highlights of the Games. It’s also one of the biggest swimming venues on the planet, at 65,500 square metres. At 50 metres long, 25 metres wide and 3 metres deep, the pool is a standard length for Olympic competition, and its design features an adjustable boom and divider, allowing length and depth to be altered. The venue also features a 10m high diving tower. Ariake Arena  Location: Ariake, Tokyo  Architect: Kume Sekkei  Capacity: 12,000  Sport: Indoor volleyball The Ariake Arena was officially opened in February 2020. Present at the official opening were the Japan women’s volleyball team, who took to the court as part of a demonstration match. Erika

Araki, middle blocker for the team and a three-time Olympian, commented, “It’s a fabulous arena.” The Ariake Arena is within walking distance of the gymnastics, tennis and BMX venues. As for legacy, the arena will be used as a multi-purpose facility after the Games. Governor of Tokyo Yuriko Koike commented at the inauguration: “This venue is designed to be a versatile venue that can host not only sport but entertainment and other types of events. I hope it will be a venue that will exemplify the legacy of the Games.”

create the 30-metre-wide timber roof, which is one of the largest timber roofs in the world. Cedar from Mie Prefecture was used to craft the spectator benches, with cedar from Shizuoka, Miyazaki and Akita prefectures being deployed to create the large eaves.

Ariake Gymnastics Centre Location: Ariake, Koto Ward Architect: Nikken Sekkei Capacity: 12,000

This enormous project will span 64.3 hectares, of which one quarter will house mostly buildings related to the Olympics, such as the National Olympic Stadium. The rest will be devoted to parks and greenery, ensuring beautiful and unblocked views.

Located very close to the Olympic Village, Ariake Gymnastics Centre was completed in October 2019. The area around the new venue was previously used primarily as a lumberyard. This inspired the centre’s design and construction, with architects adopting the concept of “wooden vessels in the bay” and the widespread use of timber in its roof frames, main auditorium and exterior. Construction of the centre has involved the most intensive use of timber of any of the Games venues. Larch from Nagano and Hokkaido prefectures was sourced to-

Residential luxury at the heart of the Olympic city. The Court Jingu-Gaien is a 23-storey ultra-luxury condominium completed in April 2020. It is part of the Jingu-Gaien redevelopment plan.

“Very strong demand is expected for The Court Jingu-Gaien because it is one of few spacious condominiums in central Tokyo, it is located next to the Olympic stadium and its penthouses are designed by Ferrari,” commented Shirley Yan of Housing Japan.

TRAVEL Niseko

NISEKO UNITED

New transport links and expansion boost resort

Recently, extensive plans to redevelop Niseko Unitedâ&#x20AC;&#x201D;the resort combining Hanazono, Grand Hirafu, Niseko Village and Annupuriâ&#x20AC;&#x201D;have been announced.

The comprehensive mountain-wide masterplan will transform the resort into an all-season family adventure park, and massively increase the scope of its lift-accessible skiing terrain.

west face of Mount Annupuri. These are truly exciting times for the area. Moiwa is poised to become a high-end family-friendly resort, with year-round activities, unlike any other.

These would open the area to more families and first-time skiers, as well as backcountry lovers and powder hunters, while respecting the existing atmosphere.

A new network of lifts and gondolas will replace the current lift and extend the current reach to the peak. Potential plans could also include a new lift connecting the top of Mount Moiwa to the

New road and rail links A large part of what is helping this development is improved road and rail links into the area. Japan has almost 80% penetration with regard to expressways.

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For trip schedule visit: www.euromerican.com

(contd. from page 39)

Hokkaido has been lagging, with about 55% penetration. Fiscal 2006 saw the site acquisition and first tunnel mechanics in place for the construction of the E5A expressway extension linking Yoichi to Otaru, which opened in December 2018. Bullet trains run directly from Tokyo to Hakodate and the extension to Sapporo, originally scheduled for completion in 2035, is expected to be finished by 2030. Travelling by bullet train from Tokyo to Sapporo would then take about five hours. From Tokyo to Kutchan Station, which will be a mere 10 minutes by car from the Niseko resorts, will be even less. Bold plans afoot for Moiwa Moiwa Ski Resort occupies the southern face of Mount Moiwa and is the western neighbour of Mount Annupuri, the location of the four resorts of Niseko United. With the vast majority of visiting skiers making use of Niseko United, Moiwa Ski Resort has a reputation for untouched powder runs and is a favourite for locals wanting to escape the crowds. Aman Niseko On the slopes of Mount Moiwa, Niseko’s finest gem, lies the site for Aman’s fourth Japanese property, set to open in 2023. The only development on the mountain, it encompasses the country’s first wellness retreat and 31 exclusive Aman-branded

residences, all set within a nature reserve offering unparalleled views of Mount Yotei. Away from the bustle and crowds of Niseko’s most common tourist resorts, the Moiwa area offers a high-class experience that feels totally exclusive. Designed to complement its pristine natural setting, the property epitomises Aman’s devotion to detail while embodying the renowned thoughtfulness of Japanese hospitality. The architectural concept is deliberately contemporary, with subtle references to traditional design motifs of Hokkaido’s indigenous people, the Ainu. Dedicated to wellness, every Aman is a sanctuary offering peace, harmony and a profound sense of belonging. In Niseko, the Aman Spa will be the property’s inner sanctum, where residents and guests can reconnect with nature while healing, strengthening and rejuvenating body and mind. Find more details here about the Aman Niseko experience: www.aman.com/resorts/aman-niseko

TRAVEL Japan’s National Parks

EXPLORING THE GREATEST EIGHT OF JAPAN’S STUNNING NATIONAL PARKS In 2016, Japan’s Ministry of the Environment (MOE) announced plans to boost awareness of, and inbound visitor numbers to, Japan’s national parks. They specifically targeted eight of the country’s national parks in the National Park Step-up Program 2020, namely Akan-Mashu, Towada-Hachimantai, Nikko, Ise-Shima, Daisen-Oki, Aso-Kuju, Kirishima-Kinkowan and Keramashoto.

nally tick them all off the list. Some of the parks I’d visited before but, in most cases, without knowing it.

“Japan has an extraordinarily diverse range of natural habitats. The national parks of Japan have highland; lowland; marine, temperate and tropical climates; marshland; volcanoes: you name it, they’ve got it. The eight parks that the MOE chose to be part of this project, To Fully Enjoy National Parks, represent a complete In 2017 and 2018, British free- cross-section of those climatic lance photographer and Housing zones and flora and fauna, from Japan magazine Assistant Editor Hokkaido to Okinawa. Alfie Goodrich visited seven of these eight national parks as part “I hope these pictures, just a few of an initial fact-finding and con- from the many thousands I shot sultation process carried out on during my visits to seven of the behalf of the MOE by the JTB and parks, help get the message out about what a wonderful natural National Parks Authority. and human resource the national “Japan has 34 national parks,” says parks of Japan represent. Goodrich, “and I’ve always been a little surprised at the number “In 2021, Japan’s national parks of people I meet, both Japanese will be celebrating their 80th anand foreign, who know very little niversary. Now is as good a time about them. Having the opportu- as ever to start exploring them … nity to visit and photograph the and don’t forget to take your camfrontline parks in the MOE’s step- era!” up programme was, frankly, a job Find out more about the National from heaven. Parks of Japan here: “In the course of my living and working in Japan, I’d visited many https://www.env.go.jp/en/naof its 47 prefectures and my work ture/nps/park/index.html for this project meant I could fi-

From left to right, top to bottom: Swans on Lake Kussharo, coastal landscape of Ise, hills at sunset in Kirishima-Kinkowan, Futarasan Shrine in Nikko, Kosaka Mine Muesum in Towada-Hachimantai, an eagle in Ise, the crater Lake of Mt. Aso in Aso-Kuju.

PROPERTY Zenith Akasaka

ZENITH AKASAKA: We take you on a tour of Housing Japan’s recent luxury creation Photos: Alfie Goodrich

Architect

Kenji Mizukami

Embodying the Japanese principles of Zen—a state of calm attentiveness in which one’s actions are guided by intuition rather than conscious effort—Zenith Akasaka is a sanctuary of calm, light and spaciousness in the epicentre of the world’s best metropolitan area. “You can’t design a house for somebody else,” commented architect Kenji Mizukami of Ateleir Tekuto, the Tokyo-based studio that designed Zenith Akasaka. “I have to imagine myself as the owner when I design a house. Then I know what is best for the house. I’m Japanese but I’ve lived abroad, in the UK and the US, so experience from all of this feeds into how I design a space.” Connected to nature Feel at one with nature through the green approach at the property, which is surrounded by evergreens and cherry blossom trees. The architectural principles of creating a psychological connection with the outside (nu-ke) and using borrowed scenery (sha-kkei) allow the property owners to enjoy greenery, the sky and the seasons from the comfort of the living space. The property makes the most of the site’s area, capturing maximum nat-

ural light through careful positioning of windows and skylights, which allows the occupants to enjoy sunlight throughout the day. Careful attention has been made to protect the house and its occupants from the harsh evening sun. Cedar grain has been imprinted into beams and the exterior walls, highlighting the property’s connection to nature. Natural stone and oak floors enhance these ties to nature, whilst the simple white finishes and exposed concrete creates a relaxing atmosphere throughout. When considering interior design, the minimalist palette can be easily continued or, alternatively, contrasted with standout designer pieces.

Host guests in comfort The guest bedroom on the ground floor offers a generous-sized bedroom, ample storage closets and an en-suite bathroom.

The entrance Experience calm. Remove your shoes and step into your own personal sanctuary. The entrance hall provides a still tranquillity that acts as a transition space between outside commitments and family time.

Also on the second level, the second bedroom offers generous space, natural light, ample storage closets and an ensuite bathroom.

Store your collection Zenith Akasaka boasts parking for up to four vehicles, a rare luxury in Tokyo. The garage space is generous, able to easily accommodate a full-size Sports Utility Vehicle and a luxury sports car.

Revel in your place Situated on the second level, the master bedroom suite is an expanse of private space enabling the owner to relax and refresh. The bedroom offers over 30 square metres of space, walk-in-closets and an en-suite bathroom reminiscent of a spa. The double-sized jacuzzi bath, rain shower and his-and-her basins are all of the highest quality specification.

The centre of the home Positioned on the third floor to maximise sunlight and privacy, the living room is the most outstanding space within this spectacular house. Its spaciousness is accentuated by the double-height ceiling. There is also ample space for lounge seating and an oversized dining table to entertain large groups.

â&#x20AC;&#x153;Zenith Akasaka brings an unparalleled level of luxury to the Tokyo property portfolio.â&#x20AC;?

PROPERTY Zenith Akasaka

Delight family and friends using the stunning kitchen featuring 4.5-metre-wide marble countertops, as well as the finest oven, refrigerator, freezer and wine cellar. Guests can admire your culinary talents from the comfort of a dropped counter. A mezzanine floor is positioned above the living space, and can be utilised as a study, private nook, home bar, library, kids play area or space for younger adults to relax. Overlooking the city The rooftop offers a magnificent place to entertain, boasting 360Â° views of downtown Tokyo, including the nostalgic and romantic colours of the night-lit Tokyo Tower. The space can also be enjoyed in summer, with specially treated wood decking providing a cooler feel to bare feet. A gas outlet is provided to enable hassle-free BBQs on the rooftop. Movement and accessibility The staircase and home elevators have been positioned at the sides of the property to allow maximum internal space whilst providing smooth passage throughout the home. Thoughtfully designed The colour and texture of the materials used throughout the residence provide a feeling of space and openness.

The kitchen is perfect for those who enjoy cooking and has been furnished with high-end home appliances. These include a builtin Miele oven, a microwave, an espresso machine, a dishwasher, full-height refrigerator and freezer units, and an 18-bottle wine cellar from Swiss manufacturer Liebherr. The roomâ&#x20AC;&#x2122;s highlight is a six-hob Gaggenau induction cooktop inspired by professional kitchens. Bathroom fixtures include distinctive forms from designer Philippe Starck, a Grohe rain shower and an elegant corner bathtub: perfect for a luxurious bathing experience, with space for two people. On winter nights, enjoy snug evenings in with a beautiful feature fireplace powered by clean-burning bioethanol. Privacy and security Situated on the hilltop of a private road, the residence offers maximum privacy. The latest home security system has been installed so that residents can rest with ease. See the property for yourself at zenith-akasaka.com To make an enquiry and arrange a visit, please contact the Housing Japan sales team: sales@housingjapan.com Tel: +81 3 3588 8861

CITY GUIDE Map

Akasaka-Toranomon-Kojimachi Akasaka, literally “red slope,” is a modern iteration of “akanesaka” or “madder slope,” from the Madder plant that once grew there and was used to make red dye. Akasaka first appeared on maps at the start of the 17th century when the shogunate was established. Today, Akasaka is laid out over approximately 25 hills and is the closest commercial and entertainment district to the Japanese Diet in Nagatacho. The bars, narrow streets and nightlife that characterise the area between Akasaka-Mitsuke and Akasaka subway stations is contrasted to the more-upscale feel of the area up the hill towards Kojimachi. Akasaka is also home to the New Otani Hotel—featured in the classic 1960s James Bond movie You Only Live Twice—the Prime Minister’s residence, numerous embassies and a number of richly historic shrines.

Housing Japan has a range of accommodation options in the neighbourhoods featured in this guide, whether it be for short, medium or long-term stays. For more information, visit housingjapan.com/short-term or call us on +81 3 3588 8862.

AKASAKA-TORANOMON-KOJIMACHI

CITY GUIDE OSAKAYA SUNABA

On a gloriously sunny day, we began our walk in Akasaka’s neighbouring district of Toranomon, stopping at the legendary Tokyo soba house of Osakaya Sunaba. Serving soba noodles since 1923, Sunaba’s traditional, two-storey wooden restaurant stands like a defender of old-school Japanese style amidst the high-rise, glassy modern office buildings of the area. Enjoy the calm interior and immaculate service whilst you dine on simple but exquisite soba noodles, tempura, tofu and katsu-don. GoogleMaps PlusCode: MQ92+77. www.toranomon-sunaba.com/

KOTOHIRA-GU

Tokyo is scattered with all manner of different shrines and temples, but few come close to Toranomon Kotohira-gu Shrine for visual impact or contrast between old and new. Nestled tightly between towering skyscrapers, Kotohira-gu dates from the 1660s. It draws its visitors to pray for good luck in business, family matters, health and maritime safety. Visit on the 10th of each month for the soto kagura (traditional music and dance performances). GoogleMaps PlusCode: MP9X+R6. www.kotohira.or.jp/

HIE SHRINE

Two shrines back to back might seem like overkill but, when walking from Toranomon to Akasaka, it would be criminal to miss the opportunity to see one of Tokyo’s best examples of lines of red torii (decorative gates at shrine entrances). Located at the rear of the sprawling Hie Shrine you’ll find a beautiful stone staircase lined top to bottom with red gates. Each gate represents a donation by a sponsor. Once you’ve taken your Insta-worthy shots from the top of the stairs, it’s just a minute’s walk to the main shrine. Give yourself at least 45 minutes to explore. It’s well worth it. GoogleMaps PlusCode: MPFQ+XM. www.hiejinja.net

KIOICHO

Completed in 2016 and within sight of the Hotel New Otani, Tokyo Garden Terrace Kioicho is a dramatic addition to the Akasaka scene. The 38-storey main tower is paired with an adjacent 23-storey residential tower. At its heart, the complex has a fully restored mansion house dating from 1930. The Akasaka Prince Classic House was once home to Yu In, the last crown prince of Korea and lieutenant general in the Imperial Japanese Army. It’s now home to a restaurant and banquet rooms. Photo opportunities abound with the classic lines of the house and nearby skyscrapers. In between, Kohei Nawa’s White Deer sculpture stands resplendent. GoogleMaps PlusCode: MPHP+RV. www.tgt-kioicho.jp

AKASAKA-TORANOMON-KOJIMACHI BEL AMER

Tucked just inside the front entrance of the Kioicho development is Chocolat Bel Amer. Established in Tokyo, with a factory in Ota Ward, Bel Amer has concessions in the city’s major department stores. The firm recently opened its first stand-alone shop in Kyoto. Bel Amer’s signature Palet Chocolat comes in a bewildering array of flavours and styles. Nothing in Bel Amer’s range, which includes chocolates, Mille-Feuille cakes, biscuits and bonbons, will disappoint. Before going inside, spend a little time perusing the mouth-watering selection in the window. It’s a great way to work up an appetite for your purchase! GoogleMaps PlusCode: MPHP+PR. www.belamer.jp/en/

ERICK SOUTH

Whilst there are a number of great Indian curry restaurants in Tokyo, finding a good South Indian meal can be a little difficult. Situated right next door to Bel Amer, on the second floor of Kioicho, Erick South offers superb south Indian food at very reasonable prices. Lunchtime and evening set plates are plentiful and there is a range of à la carte options, too. The Goan fish curry is something of a signature dish but everything is tasty. The biriyanis are especially easy on the wallet and a delight for the palate. But leave some room for a Bel Amer chocolate for dessert! GoogleMaps PlusCode: MPHP+QW. enso. ne.jp/erick-south/garden/

AKASAKA TORIKOU

On the third floor of Kioicho is Akasaka Torikou. This wonderful little yakitori restaurant has an intimate feel and private rooms, which hold between eight and 10 diners. Torikou has a family-run and homely atmosphere. Food is delicious and much of it unique, cooked in the house style. Authentic binchotan (white charcoal) is used to grill the food. A large foreign and domestic wine list is available alongside a very well-curated range of sake. The polite and welcoming staff speak enough English to get by. Torikou is recommended for those who want a tasty and authentic meal in a cosy atmosphere. GoogleMaps PlusCode: MPHP+RR.

HISHIDA BUTTONS

Heading out from the Classic House side of Kioicho takes you up a hill and into the neighbouring area of Kojimachi. A few minutes’ walk away is the delightful Hishida Buttons. A reminder of days gone by, this shop has been in Kojimachi since 1923 and, amongst the sewing community in Tokyo, is something of a legend. There is a multitude of items on display, and staff also make custom buttons for you. Hishida Buttons is one of the charming old shops you can still find dotted around Tokyo—a little Aladdin’s cave. Whether you are buying or browsing, it is definitely worth a visit if you’re in the area. GoogleMaps PlusCode: MPMQ+88.

TOURISM Japan’s Alpine Resorts

NISEKO, HAKUBA & BEYOND An outline of the latest developments and plans for Japan’s premier alpine resorts

With fluffy powder snow ranked among the best in the world, plentiful onsen (hot springs) and delicious local produce, Niseko has long been delighting winter sports enthusiasts. Thanks to its natural characteristics and the entrepreneurial spirit of its early international visitors, the small town in eastern Hokkaido has become a thriving ski resort that competes with global favourites like Aspen, Whistler and Courchevel as a top-class alpine destination. Following in the footsteps of the now long-established resort of Niseko are alpine destinations on Honshu, such as Hakuba, Nozawa and Myoko. We take a look at Niseko and the growing popularity of some of the alternatives. Niseko: history and trajectory Though winter activities in Niseko date from the early 20th century, the area was a well-kept secret among local skiers until the late 1990s when Australian visitors fell in love with its powder snow and started to tell their friends about it. Some of those visitors saw the potential to offer more than the basic lodgings available, returning in the 2000s to build ski-in, ski-out chalets. Next came midrange townhouses and apartments built

by developers before the arrival of luxury condominiums, villas and international hotel brands a few years later. While the global financial crisis in 2008 and the fallout from the Great East Japan Earthquake in 2011 put activity on pause, the market recovered well. In the past seven years, the town has seen numerous new developments in and around Niseko’s main ski resorts. With the luxury market in mind, developers have adopted stylish designs, high-end fixtures and fittings and tie-ups with nearby hotels or condominiums to offer the exclusive services of that brand, says Ken Nakazawa, head of project sales at Housing Japan. Properties of all sizes have come to the market, including more stand-alone four- or five-bed villas to accommodate larger groups, as well as multi-villa sub-division developments. According to Nakazawa, this “community feel” is a key factor in ensuring a property can enjoy a successful return. Attractive characteristics Niseko boasts a high-quality ski and après-ski offering that combines worldclass snow and local, Japanese experiences. Snow quantity and quality are guaranteed, with an average of 15.3 me-

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“Growth in luxury accommodations, in particular, is driving upward momentum in the real estate market.” tres of snowfall over a long season that typically lasts from late November to early May. The town’s dining scene utilises local produce from nearby farmland and oceans to offer high-quality cuisine and Japan’s famed omotenashi hospitality. Soaking in onsen—or a private hot-tub in a villa—also appeals to visitors after a day on the slopes. Positive influences Growth in luxury accommodations, in particular, is driving upward momentum in the real estate market. Yet, globally speaking, Niseko remains good value for money. Real estate in the resort is 60% cheaper than in Courchevel, the most expensive in the world, according to a 2019 Ski Report by British real estate services company Savills. Despite a 66.7% increase in land price in Kutchan, the town nearest to Niseko, in 2019, the area is ranked only 31st globally in Savills’ list of prime residential land prices. Demand for holiday properties is forecast to continue to rise amid Japan’s inbound tourism boom. Over 2012–19, there was a 177% increase in international tourists to Niseko, with 45% growth in the past two years, according to data from the Hokkaido Prefectural Government. Growth potential With work ongoing to further advance Niseko, the future of the resort and its surrounds looks bright. By 2030, the Shinkansen bullet train route will be ex-

tended from Shin-Hakodate-Hokuto to Kutchan, which is part of Niseko. The significant reduction to journey times is expected to boost arrivals. The national government’s ongoing tourism efforts involve driving more visitors to regions, including Hokkaido, with initiatives such as the National Park Step-up Program 2020 (see page 44). Locally, many initiatives are also underway to improve Niseko’s green season offerings in a bid to make it more of a year-round destination. The emergence of Hakuba Hakuba, in Japan’s Northern Alps, is more than just a small rural village. It is an expansive valley surrounded by steep mountains that support the largest ski terrain in Japan. The area is blessed with a unique micro-climate; freezing winds that blow in over the Sea of Japan from Siberia each winter dump metres of powder snow over the steep mountain terrain. Skiers have played in the area for more than 100 years and, in summer, the mountain ranges are a mecca for serious mountaineers and day trekkers alike. Hakuba was the centre of Japan’s ski bubble, which peaked around the 1998 Winter Olympics when the village hosted the Olympic ski-jumping and downhill events. “In the late 80s and 90s you had something of a ski bubble in Japan,” says Joe

Rigby, co-founder of Housing Japan, who is a keen skier and Hakuba regular. “But after the Olympics, visitor numbers really dropped off as Japan went into a deep recession and young people stopped skiing. “During the ski bubble, a lot of Japanese families moved to Hakuba and started ski hotels, restaurants and other businesses. Over the past 20 years, many of these owners have been reaching retirement age, and there has been a steady stream of them selling their properties to young inbound entrepreneurs, particularly Kiwis, Aussies and Canadians.” Many investors see a bright future for Hakuba. The 2012 acquisition of the Hakuba Resort Development company by listed company Nippon Ski Resort Development and the subsequent formation of Hakuba Valley, a consortium of the 10 ski resorts in the Hakuba area, has opened the way for a variety of investments. Hakuba Mountain Harbor, a year-round viewing platform and restaurant atop one mountain with stunning views down the valley, is the most recent example of improvements to the resort infrastructure. A number of high-profile retail brands, including Patagonia, North Face and Fenix have also opened shops in the village in recent years. Most recently, the popular camping goods brand Snow Peak has

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built a Kengo Kuma-designed flagship store and recreation space in the centre of the village, which includes a Starbucks outlet. Given Hakuba Valley’s relative proximity to Tokyo and the abundance of accommodations and outdoor activities, there is great potential for growth in the green season as well as the winter season. Unlike Niseko, Hakuba has not seen much new development since the ski-bubble days. As a result, real estate prices tend to be significantly lower than those on Hokkaido. “Gone are the days when you could buy a small hotel for ¥20 million. That said, there are still great bargains to be had for those willing to spend the time to search,” says Rigby of the real estate market in Hakuba. In a post-Covid-19 world, it is possible that many Japanese families will look close to home for holiday options. In this environment, we may well see Hakuba and other similarly located resorts enjoy an increase in domestic travellers in both the summer and winter seasons. And, when inbound travel begins to pick up again, it is certain we will see a strong return of travel-starved inbound visitors to alpine resorts throughout Japan.

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Efficient Real Estate Investment How can investors maximize their returns from property in Japan? What are the tax implications for real estate investment? How can professional support ensure one makes the most out of Japanese real estate investment?

Tax Compliance for the Investor

In this article, we will provide answers to these questions by introducing the role of professional Property Managers, and the tax compliance issues that investors need to be aware of.

For foreign individual investors, the filing due date of the individual income tax return is 15 March every year. And the calculation period is the calendar year. In the case of investment via a foreign company, it is also necessary to appoint a tax representative in Japan for the same reason.

Please note that the information provided herein is illustrative and does not constitute advice. Contact a tax accountant to discuss your particular situation.

How Property Managers Add Value A professional Property Manager takes care of the day-to-day tasks to ensure a real estate asset performs to its highest potential, thus delivering value and time back to the investor. Key responsibilities include managing leasing agents and brokers to ensure property occupancy gaps are kept to a minimum, securing the best possible rents, representing the owner at building management associations and dealing with maintenance and tenant issues. A Property Manager will work in tandem with a trustworthy Tax Accountant to ensure all applicable taxes are paid on time and consult efficient real estate investment. As taxes can be a considerable impact on the net return, it can also be worthwhile exploring the various ownerships structures.

A Model for Effective Real Estate Investment

Foreign investors must appoint a tax representative in Japan to file the tax return.

The filing due date of the company income tax returns is two months after the fiscal year-end date. And please note that there are also some tax application forms which are required to be filed with the tax office after starting an investment business in Japan.

Housing Japan & Earth Tax – Complementary Partners Housing Japan has over 450 properties under management, and has been supporting owners since 2012. Our innovative online Owner’s Portal and experienced multilingual team allow property investors to manage their assets digitally and remotely from anywhere in the world. The expert team at Earth Tax Corporation provides support services for all tax matters in Japan and has been supporting foreign investors in Japan since 2006. The team specializes in providing individual advice to real estate owners on the best methods to effectively utilize the assets owned and minimize the tax levied, based on clients’ particular needs, by carrying out simulations on income tax and other related taxes.

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PROPERTY Short-term rental

ALT STAY Playing the long game in short-stay property

Involved in a wide range of real estate projects, including development, sales, leasing, hotels and self-storage, Housing Japan expanded in many areas before entering the short-term rental marketplace. It’s now launching Alt Stay, a portfolio of apartments that aims to cater for young professionals using Tokyo as a temporary base. The initiative may be new, but it’s been long in development. “When Airbnb started here”, says Housing Japan Co-founder Joe Rigby, “there was a lot of interest at Housing Japan, but the reality was that its business model at launch was never legal. If you’re running a business, you have to obey the rules and regulations. So, we said, ‘well, what can we do that looks like Airbnb, but that’s legal?’ That’s how we evolved our product to where it is now.

Kanemitsu Takahashi, who specialises in the short-stay part of Housing Japan’s business, says the Alt Stay portfolio differs from the firm’s management of properties for individual owners. “Needs for short-term rental apartments from both corporate and individuals have become quite high compared to several years ago. Corporate expats used to rent serviced apartments or long-term rental apartments, but there are now more young expats coming to Tokyo for short-term project work who don’t need either luxury serviced apartments or long-term apartments. “What we are providing for these customers is the right-size, quality apartment for a reasonable price. Because of the options for remote working in various fields, we have a very mixed customer base of traders, consultants, YouTubers, designers and creative directors. We’ve even had online gaming customers rent our apartments, working while exploring a foreign country.”

“As well as managing properties for customers who may be operating short-term lets, we’ve been developing a portfolio of our own, which we are letting on a daily basis with a hotel licence, and on a longer stay basis within a minpaku- Housing Japan’s latest offering is akin to a serviced apartment style legal framework.”

(SA) without the service, according to Takahashi. “We do not provide on-site services like front desk or room service, so our operation cost is lower than that of SAs and we can offer a quality furnished apartment for a lower rate than a traditional serviced apartment. Also, we try to focus on apartments of 20–50 square metres. It’s larger than a standard hotel room in Tokyo and smaller than most serviced apartments.” Alt Stay properties are mostly in the central part of Tokyo, namely Minato, Shibuya, Shinjuku, Chuo and Chiyoda wards. “These areas are well-populated by foreign companies, embassies and a wealth of cultural attractions. As well as being very popular for business customers, these parts of town also attract a lot of interest amongst individual, long-stay tourists,” explains Takahashi. Different types of customer might spend very different lengths of time in their leased apartment, so design of space is important to Alt Stay’s success.

“We’ve been working with one specific partner, Umyco Design, on the interior decoration and furnishings of our properties,” says Takahashi. “We want to create spaces that are going to work for the customer, irrespective of whether they’re out all day on a project or working in the space for hours on end. Design and comfort are a crucial part of the mix when it comes to creating a nice experience for our guests.” So far, the approach seems to be working, as Alt Stay continues to grow in popularity, according to Rigby. “We currently manage about 160 rooms, and we’re looking at adding 70 rooms over the course of the next year. We are aiming to hit 500 rooms in three years and 1,000 rooms in five years.” “As far as the Olympics is concerned,” says Rigby, “we had been receiving inquiries related to Tokyo 2020 from foreign media groups consistently for a couple of years. But, with the postponement of the Games and the situation with Covid-19, everything has changed. “Right now, we’re keeping a close eye on the travel advice and information from the relevant Japanese government ministries, as well as our industry partners. Business travel, like everything, has been seriously affected by the pandemic and will take some time to normalise. We’re ready and there for customers when they return.” Find out more about Alt Stay here: www.alt-stay.com

International Schools The American School in Japan The American School in Japan (ASIJ) is an independent, co-educational school serving students of all nationalities. Founded in 1902, ASIJ offers an American-style college preparatory education for the children of international families, including those on temporary assignment, as well those who make Tokyo their permanent home. The school offers a standards-based curriculum culminating in an American high school diploma, which develops the necessary skills for students to be successful in their future academic endeavors. Complementing its academic program, ASIJ encourages students to engage in a wide variety of co-curricular experiences, which we believe contribute to the development of the whole child. Grades: Nursery–12 K-12 Campus: 1-1-1 Nomizu, Chofu-shi 0422-34-5300 enroll@asij.ac.jp Early Learning Center (N–K): 6-16-5 Roppongi, Minato-ku 03-5771-4344 elc@asij.ac.jp www.asij.ac.jp

Chiyoda International School Tokyo Under the guidance of Musashino University, Chiyoda International School Tokyo (CHIST) opened its elementary school in April 2018. The middle and high school opened in April 2019 and CHIST became an International Baccalaureate Diploma Programme school in 2020. CHIST is also a Primary Years Programme and Middle Years Programme candidate school. The advantage of being a new school means we offer a fresh, energetic approach to education, which makes us the first choice for parents. CHIST educates and empowers its students from Grade 1 to Grade 12. Grades: 1–12 11 Yonban-cho, Chiyoda-ku 03-5530-7402 www.chist.jp

The British School in Tokyo Situated in the heart of Tokyo, The British School in Tokyo (BST) is an independent, co-educational, international school offering the English National Curriculum for over 1,000 students aged between 3 and 18. We are a two-site campus based in Shibuya and Setagaya-ku with currently over 65 different nationalities. Our purpose is to provide an outstanding British education, in English, to the international community of Tokyo and therefore our experienced teachers are largely recruited from the UK. Despite the fact we are a non-selective school we have enjoyed outstanding results in GCSEs, IGCSEs, and A Levels, taking students to top schools and universities in the UK and internationally. Years: Nursery–Year 13 Shibuya Campus: 1-21-18 Shibuya, Shibuya-ku 03-5467-4321 Showa Campus: 1-7-57 Taishido, Showa Women’s University 5th Bldg., Setagaya-ku 03-3411-4211 www.bst.ac.jp

Gymboree International School At Gymboree International School, we provide children with a safe learning environment where they can explore their interests and gain the communication and social skills they need to succeed in the future. Our unique curriculum is based on over 40 years of experience as the world leader in early childhood development programs around the world. We offer Mommy & Me classes (0–5 yrs.), a three-hour Preschool Prep (1.5–2.5 yrs.), five-hour Preschool (2–5 yrs.), and three-hour After School and Saturday School (3–9 yrs.) programs at all our locations. Grades: Preschool, Kindergarten, Early Elementary Motoazabu School: Motoazabu Crest Building 1F, 2-3-30 Motoazabu, Minato-ku 03-5449-2311 Jiyugaoka School: Chestnut Hills 2F, 3-25-11 Yakumo, Meguro-ku 03-3723-0651 Asagaya School: 2-40-1 Asagaya-minami, Suginami-ku 03-5356-9008 Bashamichi School: Kitanaka Brick & White 2F, 5-57-2 Kitanakadori, Naka-ku, Yokohama-shi, Kanagawa 045-225-8810 gymbointernationalschool.jp, www.gymboglobal.jp

Aoba-Japan International School Aoba-Japan International School (Aoba) is an International Baccalaureate (IB) World School that offers the IB curriculum, including the Primary Years Programme, the Middle Years Programme, and the Diploma Programme. It also offers an innovative Global Leadership Diploma program that allows students to develop their own custom-made course of study in collaboration with an advisor. Kindergarten is taught at both the Meguro and Hikarigaoka campuses, while elementary through high school classes are taught at the Hikarigaoka campus. Aoba’s dedicated and innovative faculty is committed to creating a progressive, interactive, and student-centered educational environment, one where all types of learners can achieve their very best. Grades: K–12 Hikarigaoka Campus: 7-5-1 Hikarigaoka, Nerima-ku 03-4578-8832 Meguro Campus: 2-11-5 Aobadai, Meguro-ku 03-5428-4488 www.aobajapan.jp

Saint Maur International School Established in 1872, as innovators of international education in Japan, Saint Maur International School continues to meet the needs of children (co-educational, 2.5 years to Grade 12) from the multi-cultural, multi-faith international community. The school is dedicated not only to cater to the learning and developmental needs of its students across grade levels, but to also be a support and a driving force for its extended community of neighbors, families, and alumni. The Saint Maur Essential Outcomes represent the dispositions we hope to instill in each of our students. Members of the school community will seek to live as moral citizens, unique individuals, global citizens, and balanced and life-long learners. Grades: Nursery–12 83 Yamate-cho, Naka-ku, Yokohama-shi, Kanagawa 045-641-5751 www.stmaur.ac.jp

CITY GUIDE Map

Asakusa-Kuramae-Asakusabashi From the gritty neighbourhood of Asakusabashi, through hip and artisan Kuramae to the bustle of Asakusa, we discover captivating slices of culture and history, as well as a cool collection of eateries and independent shops. These three neighbourhoods are, like most of Tokyo, extremely multi-layered and you’re unlikely to discover the true essence of each with just one visit. Our route will definitely get you started. From the east exit of Asakusabashi JR Station, cross the wide Edo-dori road and head towards Kanda River (two minutes’ walk). From the large bridge over the main road, follow the river east for three minutes and you’ll find a peaceful area with small river boats and traditional floating restaurants before arriving at Yanagibashi. Yanagibashi means willow bridge: the photogenic green metal bridge you’ll find there was built to replace the wooden bridge lost in the 1923 Kanto Earthquake.

CITY GUIDE LIBERTAS

Heading north from the bridge, you’ll find characterful backstreets and, within a five-minute walk, you’ll be at Libertas, a shop with a lovely retro feel, where you can browse jewellery and leather items or even join a workshop to make your own. Libertas is owned by designer Hitoshi Hatsumi, and you’ll often find him there, as Libertas operates as both shop and factory for his brand. GoogleMaps PlusCode: MQXQ+26 www.libertas-tokyo.com

LITTLE YUMMY

Walk a couple of hundred metres north of Libertas at the right time of day and no doubt your nose will steer you to our next selection: Little Yummy. This cute little restaurant has become something of a sensation recently, serving a large range of Japanese curry dishes but famed for its ‘vegetable plate.’ Wholesome food, welcoming staff and a cosy wooden interior make this a great place to stop for lunch. GoogleMaps PlusCode: MQXQ+59

TORIGOE SHRINE

Next on our route is Torigoe Shrine, which was founded in the 7th century. Legend has it that samurai warrior Minamoto no Yoshiie once received useful navigational advice from a white bird nearby, giving the shrine its name. Tori means bird, while goe means going over. Less than 10 minutes’ walk from Little Yummy, you’ll approach Torigoe from its elevated front section. The rear is on stilts. The split-level of the shrine harks back to the hill on which it was founded. Head here on the Sunday closest to 9 June to be treated to the wonderful Torigoe Night Festival, when many mikoshi (portable shrines) are paraded through the nearby streets. GoogleMaps PlusCode: PQ2P+R8

MATSUYA

Turn left at the back of Torigoe Shrine and walk west for two minutes. You’ll soon see an arched sign straddling the quaint shopping street of Okazu-yokocho. Okazu are side dishes made with vegetables, fish or pickles that are served with traditional Japanese meals, while yokocho means alley. There are a multitude of charming small shops to explore here. If you’re a fan of chashu (braised pork), try the super-exclusive and tasty Matsuya. The cheery owner, who looks more like a Japanese rock-star than a chef, only opens from 11.30am on Saturdays. Using the best pork from around Japan, his home-cooked joints are typically made with a rare smoked soy sauce called kogashi. Once sold out, he shuts up shop, so get there as close to 11.30am as you can. GoogleMaps PlusCode: PQ2M+WH. www.matsuya-yakibuta.tokyo

ASAKUSA-KURAMAE-ASAKUSABASHI CHIGAYA

Just five minutes on foot from Matsuya, bedecked with cute red chintz curtains, is Chigaya. This bakery is named after its friendly owner, Chigaya, who told us she is inspired by the tasty bread she experienced in New York, London and Paris. With a beautiful selection of sweet and savoury pastries, meat and vegetable pies, loaves and cakes all made on the premises, Chigaya definitely has an overseas atmosphere. You can take away your goodies or eat them on the spot at the wooden tables or window-facing counter, with a cup of handdripped coffee made by the owner’s husband. With delightful staff, a relaxing ambience and mouth-watering fare, Chigaya is highly recommended. GoogleMaps PlusCode: PQ3P+62. instagram.com/chigaya_kuramae/

KAKIMORI

Kakimori is right across the street from Chigaya. The exterior, a fusion of Japanese tradition and modernity, is where you’ll find a row of rental bicycles—should you need some exercise after visiting the bakery. Only ¥1,500 will get you a stylish bicycle with a basket for the day. Venture inside, across the colourful parquet floor, and you’re in a world of bespoke stationery: pens, pencils, handmade notebooks and paper. It’s all delivered with a level of poise and quality that is hip, but not too hip for its own good. Kakimori’s philosophy is to re-evaluate the importance of writing. GoogleMaps PlusCode: PQ3P+77 www.kakimori.com.

McLEAN

The walk from Kakimori takes roughly 20 mins at a sensible pace. Head north and gently west, towards the river, and halfway into the walk you’ll come to Umayabashi and McLean Old Burger Stand. McLean has about 14 different burgers on its menu, which can be paired with fries or other sundries. Vegetarian options are available. The Nasu-Miso Burger is great. Daily specials liven up an already great menu. There’s also handmade drip coffee. Eat-in or takeout. GoogleMaps PlusCode: PQ4V+2M www.mclean.jp

SAKAI KAMBAN

Founded in 1922, Fukuzendo Sakai Kamban is currently run by the third and fourth generations of the founding family, and dad still has the same cheeky smile of the seven-year-old you can see on the old photo he has in the shop, from the 1950s. Sakai and his family make traditional wood signs. Customers range from shrines to restaurants, government offices to sweet shops. The family also make signs for private customers. A beautifully carved and painted wooden nameplate for the front of your house starts at ¥30,000. Add ¥5,000 for gold-leaf. GoogleMaps PlusCode: PQ7P+XQ.

WELLNESS Wellness Tourism

PUTTING JAPAN ON THE WELLNESS TOURISM MAP

How can Japan maximise its bounty of treasures and traditions? Housing Japan Talks to Shohei Sekido & Spa Wellness Consulting.

Despite being infamous for its culture of overwork and mental health being a taboo, the Japanese are still generally perceived as leading the way in beauty, longevity and mindfulness. As such, Japan is perfectly poised to be on the world stage as a wellness destination for a number of reasons. One such reason is that the Japanese are world-renowned for having good health, slim physiques, beautiful skin, and for living and eating with mindfulness. Japan is also known for its mineral-rich hot springs and its bathing culture, which is seen as a form of relaxation, connection and community that the Japanese enjoy as a daily part of life. With the growing popularity that surrounds the eastern philosophies as holding value for one’s daily life, many Westerners are seeking wisdom in the spiritual traditions of Buddhism, mindfulness and Zen, alongside other eastern traditions such as yoga, Ayurveda and traditional Chinese medicine. Wellness that encompasses mental health, quality rest and life skills to meet the demands of the work culture in Japan could be extremely positive for Japanese people who are seeking an experience of

wellness that blends both Japanese aspects of wellness with the modalities of the West. What do you see as the biggest positives and greatest challenges in Japan promoting itself to inbound travellers as a wellness destination? Japan is a country of great interest due to its intact culture and traditions that have stood the test of time. Drawing on its reputation as an innately healthy country provides Japan with a unique and positive advantage in marketing itself as a wellness destination. I see the greatest challenge might be in promoting wellness to Japanese people who may not understand this concept. Can you tell us briefly about your favourite existing wellness tourism success story in Japan? At this stage, Japan is lacking a broad or all-encompassing experience of wellness that can be marketed to the world press. There is no real “health retreat” in Japan, and therefore unfortunately I cannot speak of a favourite wellness story. How-

ever, I do hear that the closest rendition of wellness that I know of is Beppu, on the southern island of Kyushu, which has more than 2,400 natural springs and is now accompanied by the ANA Intercontinental Beppu Resort & Spa. The Lake Biwa Marriott Hotel, located by Japan’s largest lake, is also designed as a wellness destination. What do you perceive are the most important business and investment trends across the global wellness market? And which do you see working well in Japan? The global wellness industry grew 12.8% from 2015-2017, from a $3.7trn to a $4.2trn market. To put that in economic context, from 2015-2017, the wellness economy grew 6.4% annually, nearly twice as fast as global economic growth (3.6%). As of 2020, the global wellness industry is valued at $4.5trn. The sectors that make up the global wellness economy are valued accordingly: personal care, beauty and anti-ageing ($1,083bn), healthy eating, nutrition and weight loss ($702bn), wellness tourism

($639bn), mind-body fitness ($595bn), preventative and personalised medicine and public health ($575bn), traditional and complementary medicine ($360bn), wellness lifestyle real estate ($134bn), spa economy ($119bn), thermal/mineral springs ($56bn) and workplace wellness ($48bn). Specifically, for Japan I see the areas of personal care, beauty and anti-ageing, wellness tourism, wellness lifestyle real estate, workplace wellness and thermal/mineral springs as being the most important sectors. In respect to travel trends, I see active holidays, spiritual travel, authenticity and less explored destinations doing well in Japan, as well as other trends in mind management, mental wellness, wearable therapy, prescribing nature, transformational travel, sauna reinvented and silence. What can you tell us about the upcoming Aman Niseko, and its position as the countryâ&#x20AC;&#x2122;s first destination wellness retreat? Aman Niseko is a luxury resort perched on a mountain and ski slope, making it a wellness destination for all types of travellers all year

long. Whilst the location offers a multitude of outdoor activities, the resort itself has been purpose built to deliver a deep experience of wellness in all of its forms. Aman Niseko goes far beyond a resort, as it houses a fully equipped gymnasium; Pilates, yoga and martial arts studios; an indoor swimming pool and an aqua exercise and watsu pool. There are consultation rooms for wellness examinations, physiotherapy and bodywork, as well as a foot reflexology space; a hair and beauty salon; many spa ritual rooms for a wide variety of modalities and a unisex European hydrothermal facility complete with sauna, steam, hammam, experience showers, cold plunge pool and other vitality pools. And, finally, there is also a traditional indoor and outdoor onsen separated into male and female zones. Aman Niseko will focus on wellness through a number of key focus areas: spa, healing, cuisine, onsen and hydrothermal bathing, nature and adventure, retreat seminars and workshops and its Master in Residence programme. Find out more about Aman Niseko here: www.aman. com/resorts/aman-niseko

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URBAN DEVELOPMENT Shibuya

A Bold Future for Shibuya by Julian Ryall

Long recognised as the fashionable and youthful heartbeat of Tokyo, Shibuya is undergoing a transformation that has seen gleaming skyscrapers rise high above the station area and an influx of high-tech companies looking for an energetic and stimulating place for the headquarters of their Japanese operations. The rejuvenation of a district that a decade ago was looking slightly downat-heel has inevitably had a knock-on effect on prices for land in all sectors, including the residential market. Opened as a quiet suburban railway stop in 1885, when it was surrounded by vegetable fields, Shibuya Station today handles nearly 3m passengers on average every weekday. It has gained worldwide fame for the statue of loyal dog, Hachiko; the scramble crossing directly outside the west exit and the plethora of neon, advertising and big screens that look down on all those passers-by. In part because of the 2020 Tokyo Olympic Games but also in an effort to attract more firms to the district, Shibuya Ward teamed up with Tokyu Corporation, a railway firm and property developer with extensive interests in the neighbourhood, as well as East Japan Railway Company and To-

kyo Metro Co., Ltd. to rebuild the station area. The first visible manifestation of this vision was Tokyu’s Shibuya Hikarie, a 183-metre tower at the east of the station with offices, retail space, restaurants, conference facilities and a theatre. One of the very first firms to snap up office space in the building was mobile applications giant Line Corporation. The area south of Shibuya Station has seen similar large-scale development, with global tech behemoth Google LLC taking over the entire top half of the 33-storey Shibuya Stream property. The lower levels, meanwhile, are occupied by a hotel, shops and space for incubators and startups. Just a stone’s throw away and directly above the station, which is undergoing a complete makeover, Shibuya Scramble Square rises 230 metres above street level and has indoor and outdoor observation decks that offer breathtaking views of the city and well beyond. The Dogenzaka area, directly to the west of the station, is also getting a state-of-the-art block that is a mixture of commercial and office space. A short distance away, in the Sakuragaoka neighbourhood, work is under way on a series of high-rise projects that will

include a 180-metre, 36-storey office tower and a 32-storey development of apartments. With multilingual medical and childcare facilities, as well as serviced apartments, the developers are clearly looking to appeal to foreign companies as part of the effort to reinvent Shibuya as a hub for international business. “Shibuya has a reputation as a creative industries cluster and many IT venture companies have been born in this district,” said Maria Kanazawa, a spokeswoman for Tokyu Corporation. “After the arrival of the very first venture IT firms—something which began around 2000—Shibuya became known as ‘Bit Valley’ and, as that trend grew, some of the biggest tech firms in the world came here, including Google, CyberAgent, DeNA Mixi, GMO and others.” Companies were attracted by the presence of other like-minded organisations, she added, making marketing, meetings and even socialising with contacts far easier. Equally, the working environment has improved immeasurably with the addition of advanced new office facilities,

while the district still retains some of its hip, down-to-earth atmosphere, particularly in the bars, restaurants and shops in the narrow streets to the west of the station. Announcing Google’s plans to move into Shibuya Stream in late 2017, Peter Fitzgerald, vice president of Google Japan, said being based in Shibuya would enable the firm to double the size of its presence in Japan. Moreover, he said the Google for Startups Campus—which opened in November 2019—would link with global locations from London to Sao Paulo to help startups develop their ideas, access Google resources and build connections with other entrepreneurs. “This is a sign of our commitment to long-term investment in Japan,” he said of the campus. “It’s about creating the future with Japan’s innovators of today and those from the next generation.” Industry analyst Andy Hurfurt says Shibuya has always had a “reputation for its vibrancy and youth,” which has proved attractive to tech firms. That translates into demand for space. The price of land in Shibuya Ward has soared 9% between the fourth quarter of fiscal 2018 and the same period in 2019, Hurfurt said, adding that this growth is “significantly faster than we have seen in recent years” such as the 3.4% increase in prices recorded within 2014. In the residential sector, developments have pri-

marily been family apartment buildings of 50–300 units. By the fourth quarter of fiscal 2019, Shibuya was the most expensive sub-market within Tokyo, overtaking Minato Ward. Rents are at record highs, surpassing even the levels witnessed before the global economic crisis of 2008, to reach an average of ¥5,136 per square metre. “I think the increased presence of tech and media companies in this part of Tokyo has put up rents across the entire sector, particularly because Shibuya also includes a number of high-end sub-markets, such as Hiroo, Ebisu and Daikanyama, Hurfurt added. That demand has led to developers replacing old stock with newer properties that include facilities designed to appeal to “high-fliers in the tech sector,” such as apartment blocks with gyms, he said. “Shibuya has always been a dominant player in the Tokyo property market, but I look at all those new buildings and the planned new developments and I think the district is changing,” Hurfurt said. “The stores and restaurants and other facilities that are going in there now are aimed more at older, wealthier consumers. We see more stand-alone, luxury stores and high-rise towers with expensive apartments. But I also think that [developers] don’t want to completely

do away with everything that has made Shibuya what it is today: an energetic hub of creativity and energy,” he added. “To do that would almost destroy the very reason they came to Shibuya in the first place.” Junpei Fujioka, vice president of Housing Japan, agrees that, while Shibuya was previously solely known for being “lively,” it now also has the high-end sophistication that makes it more attractive to a wider number of people and companies. “That has had a good influence on the residential market,” Fujioka said. “When expat executives from Google or some of these other famous foreign companies relocate to Japan, they are going to want to live in attractive parts of Tokyo, which is helping to boost demand and prices.” In the very heart of Shibuya there is a limited supply of residential properties and virtually no stand-alone houses, so people are looking slightly further afield, to Omotesando, Ebisu or the Shoto district, according to Fujioka. “In these areas, there are far more highend condominiums that appeal to expats as well as local people,” he added. “And while we have had requests in the past for detached homes with a garden in these sorts of areas, it really is not a question of budget, it’s purely a question of supply.”

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Housing Japan Magazine 2020 (vol. 14)

Articles inside

WELLNESS TOURISM How

URBAN DEVELOPMENT

ASAKUSA, KURAMAE

ALT STAY Playing the long game

ALPINE RESORTS An outline

AKASAKA, TORANOMON

HOUSING JAPAN AT 20 We

MARKET REPORT Exploring

THE GREAT ESCAPE We talk

ARCHITECTURE Something

ZENITH AKASAKA We take you

NATIONAL PARKS Exploring

AMAN KYOTO See the stunning

PROPERTY UPDATE A look at