Reside Blog

Japan’s luxury market continues to draw significant attention from high-net-worth buyers across Asia and beyond, attracted to the country’s stability, lifestyle appeal, and long-term investment potential. From trophy homes in Kyoto and prime residences in Tokyo, to sought-after resort destinations such as Niseko, Karuizawa, and Okinawa, international demand remains strong. Kantaro Aoki, Real Estate Advisor at List Sotheby’s International Realty, Japan, shares his perspective on the forces driving foreign buyers, and the opportunities he sees across Japan’s most desirable luxury real estate markets. Karuizawa Retreat, Nagano, Japan Among your buyers, would Japanese property be the top choice? If not, could you give me a sense of the demand for Japanese homes in your group? There is no doubt that Japanese real estate remains highly sought after globally. Overseas demand continues to be strong, and we have recently completed a number of transactions with clients from Southeast Asia, many involving budgets exceeding JPY 1 Billion. In addition to the strength of the Sotheby’s International Realty® brand, we receive a significant number of inquiries through our New York headquarters and our offices across Asia. We are also regularly introduced to clients by international banks, which reflects the high level of trust and confidence that global investors place in Japanese real estate. What is fueling this demand for Japanese property? Many buyers view Japan as a destination for portfolio diversification and typically acquire Japanese property as a second or subsequent overseas investment. Japan’s safety, cleanliness, political stability, and accessibility from other Asian countries are major attractions. Beyond investment considerations, buyers are also drawn to Japan’s food culture and wealth of tourism experiences. Many of our clients use Tokyo or Osaka as their primary base while enjoying extended stays in resort destinations such as Karuizawa, Hokkaido, and Okinawa. With fluctuations of the Japanese Yen in recent years, how much of the current foreign buying spree is driven by currency discounts versus the long-term structural value of Japanese real estate? For investors, exchange rates naturally have a direct impact on purchasing decisions. However, for buyers seeking second homes or lifestyle properties, currency movements are generally a secondary consideration. While the weaker yen has certainly supported demand, very few clients are buying solely because of favorable exchange rates. Most buyers pay close attention to market conditions, but ultimately evaluate opportunities based on budgets denominated in their home currencies. As a result, the exchange rate acts more as a tailwind than a primary driver. What makes Tokyo, Kyoto, or other parts of Japan attractive luxury property markets? Tokyo and Kyoto offer very different propositions. Tokyo is highly favored because of its accessibility, liquidity, and long-term asset value. Luxury detached homes tend to be expensive and inventory is often limited, but demand remains strong due to the city’s global status and convenience. Luxury SAKURA Residence, Kyoto, Japan Kyoto, on the other hand, offers a relatively larger supply of spacious detached homes with gardens, partly due to lower land prices. However, compared with Tokyo, Kyoto has fewer luxury condominium developments. As a result, many international buyers still choose Tokyo as their primary base in Japan. At the same time, Kyoto offers truly irreplaceable trophy properties that cannot be replicated elsewhere. A good example is the “Kyoto Luxury SAKURA Residence,” a one-of-a-kind home transformed from a former luxury jewelry brand showroom. Overlooking the Kamo River, the residence offers breathtaking cherry blossom views in spring and panoramic views of all five Daimonji bonfires from its rooftop terrace in summer—an exceptionally rare combination that embodies Kyoto’s seasonal beauty and cultural heritage. Branz Tower, Osaka, Japan Osaka has also emerged as a key destination for affluent Asian buyers. The city is benefiting from ongoing urban redevelopment and infrastructure improvements that extend well beyond Expo 2025. Compared with Tokyo, Osaka continues to offer relatively attractive pricing, providing strong potential for future capital appreciation. Excellent connectivity via Kansai International Airport and the upcoming Integrated Resort (IR) development are expected to further enhance Osaka’s position as one of Asia’s leading international business and tourism hubs. Karuizawa Retreat, Nagano, Japan Among resort destinations, Niseko, Karuizawa, and Okinawa continue to attract the strongest interest. Niseko stands out globally for its exceptional powder snow and international reputation as a premier ski destination. Karuizawa and Okinawa are also becoming increasingly popular among Asian buyers. Karuizawa appeals to affluent buyers seeking a luxury second home within easy reach of Tokyo. Its beautiful natural surroundings, distinct four seasons, and long-established reputation as Japan’s premier resort town make it particularly attractive for wellness-focused and dual-residence lifestyles. Okinawa, meanwhile, benefits from strong tourism demand and growing recognition in Taiwan and Greater China. Its subtropical climate, convenient access from major Asian cities, and increasing number of luxury developments make it an attractive destination for both lifestyle purchases and investment. The arrival of internationally renowned hospitality brands such as Rosewood and Four Seasons is further reinforcing Okinawa’s position as one of Asia’s emerging luxury resort markets. What is your view of recent initiatives to tighten foreign property buying in Japan? At present, Japan remains highly accessible to foreign buyers, with no significant ownership restrictions or foreign-buyer-specific taxes. While there has been occasional discussion regarding potential future tax increases or regulatory changes, no concrete measures have been implemented. We have not observed any meaningful increase in demand driven by concerns over possible future restrictions. What tips would you share for buyers seeking to buy property in Japan? Buyers should focus on prime locations, established brands, and properties supported by genuine and sustainable demand. One unique characteristic of the Japanese market is the prevalence of off-market transactions. Many deals are completed privately, and transaction data is often not publicly available. For that reason, selecting a trusted and experienced advisor is essential, as access to inventory and market intelligence can significantly influence investment outcomes. Beyond simply introducing properties, I believe real estate advisors should help clients build a lifestyle in Japan.

High design meets functionality as this traditional space evolves into the most sought-after feature of a waterside home, writes Emma Reynolds Wolfeboro, New Hampshire | Four Seasons Sotheby’s International Realty The boathouse is one of the oldest of residential amenities, a once utilitarian shelter for boats, fishing supplies and assorted craft, built partially over the water or set just back from it. And it has retained this core purpose and footprint for centuries. What has changed is how architects, designers and homeowners now envision the space. Waterfront living appeals for more than the views. It’s about how your lifestyle engages with the shoreline, lakeside or riverbank. Tackle boxes and fishing poles might still be stored within a boathouse, but features such as panoramic sun decks, wine racks, mood lighting and guest suites are increasingly common, helping to turn a day by the water into a night of entertaining, long after the boat has docked. “The boathouses we design are basically lakeshore clubhouses with enough amenities in them to utilize the space throughout an entire day,” says Wade Weissmann, founder of Wade Weissmann Architecture, whose projects span waterside homes in both California and New York and their Great Lakes base in Wisconsin. Austin, Texas | Kuper Sotheby’s International Realty Lakeside structures can err towards the nostalgic, bringing to mind summer-camp style. A creative approach takes more contemporary form on Lake Austin in Texas, where a new-build residence by architect Evan Fisher includes plans for an elevated glass pavilion positioned over the water, complete with a large minimalist living area and spacious sun deck above covered storage for boats and water toys. For Jennifer Schuppie of Milwaukee-based interior design studio Peabody’s, it’s the boathouses with guest suites that she finds clients fighting over in properties on the shores of Lake Michigan. “[The boathouse] acts as another residential space, just one that happens to be above the water,” says Schuppie. Ultimately, she adds, a boathouse should both reflect nature and act as an extension of its built surroundings. Windemere, England | United Kingdom Sotheby’s International Realty At Ridding Bay, a 10-acre property in England’s Lake District, there is no need to choose between amenities and privacy. Along 900 feet of Lake Windermere’s natural lakefront, this recently refurbished 16,500 square foot estate features an indoor pool, movie theater and wellness suite, surrounded by landscaped gardens, woodland and rolling hills. But the main gathering area is the newly built boathouse, with a living room, open terrace, kitchenette, shower room and proximity to the water all day long. No longer an afterthought, boathouses have evolved into miniature destinations within a property, a focal point for hosting or relaxation. Many of Weissmann’s clients approach them with the same care and consideration as parts of the primary home. “They are investing time and money into boathouse design,” he reports, “especially regarding material and craftsmanship.” Wolfeboro, New Hampshire | Four Seasons Sotheby’s International Realty On Lake Winnipesaukee in New Hampshire, the three-acre Woodland Cove estate fronts 310 feet of sandy shoreline. This hilltop home has enough bedrooms to host a large family and then some. Down along the water is a beautiful extended boathouse crafted from mahogany and fieldstone with a sheltered boat garage and lift, detailed masonry and plenty of storage space. “This boathouse is unique because it blends into the natural surroundings and has the capacity to house a 50-foot boat,” says Brian Neidhardt, global real estate advisor for the New Hampshire Lakes Region at Four Seasons Sotheby’s International Realty. “Boathouses on Lake Winnipesaukee are extremely desirable and can add up to 30% to the value of the property. Designs have become more extravagant and in many cases mirror the level of finish of the main home,” he adds. This growth is reflected in other waterfront markets, too. “A lot of my clients are trying to create a multigenerational family presence, so they’re thinking generations ahead,” says Wade Weismann. “Every single project we’re working on seems to be a legacy project.” Loosdrecht, North Holland | Netherlands Sotheby’s International Realty Few properties set up that multigenerational structure better than a Lac McGale estate in Quebec’s Upper Laurentians. Its 1,205 forested acres encompass three lakes and a private island, plus a traditional white clapboard boathouse that sits beside a timber dock. Meanwhile, in the Netherlands, life on the water takes a more practical form. This contemporary property sits at the end of a private peninsula on the Loosdrechtse Plassen, a system of five interconnected lakes within easy reach of Amsterdam. Just steps from the main house and gardens is a low double boathouse from which to speed away easily. Its restrained design reflects a place where boats are part of everyday transportation and recreation. Because no matter a boathouse’s appearance and add-ons, it retains one core function: bringing its owner closer to the water. Take design inspiration for indoor-outdoor spaces that work with the changing seasons

Photo: Tron Le Sotheby’s International Realty today announced the opening of Vietnam Sotheby’s International Realty, marking the brand’s 18th office in Asia and further expanding its footprint across the continent. Headquartered in Ho Chi Minh City, one of the country’s principal luxury residential markets, Vietnam Sotheby’s International Realty will serve clients and represent carefully selected luxury residential properties and developments nationwide, from established urban centers and resort destinations to emerging markets. The company is led by Chloe Dang, co-founder and chief executive officer, who will oversee the firm’s vision, strategy, client experience, and day-to-day operations. Dang brings a distinct depth of experience, with nearly two decades in media and 15 years in real estate, most notably as head of the real estate segment and a television anchor for a leading national financial and business news channel. Dang is joined by James Miles-Lambert, co-founder and chairman. With extensive management expertise at one of Vietnam’s leading retail groups, Miles-Lambert provides strategic oversight across corporate governance, long-term growth planning, and organizational development. “Vietnam’s luxury residential market has decisively evolved from an emerging frontier into a sophisticated, globally competitive investment destination, driven by rising domestic wealth, significant infrastructure investment, and increasing international visibility,” said Philip White, president and CEO of Sotheby’s International Realty. “The country offers a compelling mix of dynamic global cities, culturally rich heritage centers, and world-class coastal destinations.” Photo: Marina Lobato “The vision of Vietnam Sotheby’s International Realty is to elevate the standard of luxury residential real estate in Vietnam through disciplined curation, absolute discretion, service excellence, and unrivaled global connectivity,” said Dang. “Our role is to serve as a trusted bridge between Vietnam and the world, connecting Vietnamese clients with premier real estate opportunities both within Vietnam and across key international markets, while showcasing select luxury residential properties in Vietnam to a global audience through the Sotheby’s International Realty network. We are seeing strong momentum across the market, with domestic demand led by buyers from Ho Chi Minh City and Hanoi and cross-border interest growing in both directions: affluent Vietnamese families are increasingly seeking international real estate for wealth diversification, global education opportunities, and lifestyle mobility, while qualified international buyers are showing growing interest in luxury residential opportunities in Vietnam.” “Vietnam’s luxury residential sector is entering a more sophisticated phase, and our priority is to combine international standards with deep local understanding,” said Miles-Lambert. “At the heart of our approach is a clear set of values: reputation comes first, integrity and discretion are non-negotiable, client service is bespoke, advice is grounded in evidence, and the strength of one team is amplified by a global network.” Photos: Sean Yoro, Eibner Saliba, unsplash.com

default " This charismatic 6,852-square-foot home in a coveted private waterfront community offers a rare opportunity to live amid a picture-perfect coastal tableau, with some 2,000 square feet of patios and balconies encouraging appreciation of sunsets, sunrises, and views of Long Island Sound. The scene feels pulled from the pages of a storybook: a peaceful coastal lane lined with manicured hedges and stalwart trees winds away from a sandy private beach and dock on the waters of Greenwich Cove. Along the way, a clandestine arch cut carefully and discreetly into the privet lures the eye toward a swath of lush lawn, flourishing flower and vegetable gardens, and vibrant hydrangeas. Just beyond sits a quintessential New England residence with handsome cedar shingles, eye-catching wood trim, stone chimneys, and multiple covered porches designed to capture ocean views and breezes. default " src="https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/10-2.jpg" alt="upper-level patio of Greenwich home " class="wp-image-347608" srcset="https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/10-2.jpg 2880w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/10-2-300x169.jpg 300w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/10-2-1024x576.jpg 1024w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/10-2-768x432.jpg 768w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/10-2-1536x864.jpg 1536w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/10-2-2048x1152.jpg 2048w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/10-2-1200x675.jpg 1200w" sizes="(max-width: 2880px) 100vw, 2880px" Old Greenwich, Connecticut| Tracey Koorbusch, Sotheby’s International Realty – Greenwich Brokerage This charismatic 6,852-square-foot home, designed by award-winning architect Steven Mueller in the coveted private waterfront association of Lucas Point in Old Greenwich, offers a rare opportunity to live amid this picture-perfect tableau. Some 2,000 square feet of outdoor living spaces on multiple levels encourages appreciation of dramatic sunsets and serene sunrises over Long Island Sound. French doors run nearly the full length of the front and back of the residence, admitting floods of glorious natural light. A stately porte cochere creates a fittingly grand introduction, which begins with an impressive foyer whose ceiling soars to the height of three levels. All of the home’s inviting areas flow from this central space: a living room with a striking coffered ceiling, an elegant formal dining room with a verdant view, a welcoming study with a fireplace and custom built-ins, an open-concept chef’s kitchen with an island and top-caliber appliances, and an adjoining family room. The lower level—a rarity in this historic waterfront locale—offers a media room, a gym, a secluded bedroom suite, a storage room with shelving, and a versatile space ideal for use as an office, a yoga studio, or a recreation room. One of five restful bedrooms, the luxurious primary suite gazes out toward the water from its private balcony and includes two walk-in closets and a grand marble-appointed bath with Waterworks vanities and fixtures. This oasis shares its level with three guest bedrooms with distinct aesthetics and custom built-ins. The uppermost level, which overlooks the foyer below, gives way to a remarkable porch, an ideal spot for watching boats as they sail by on the sound, the sun as it rises over the water, or stars as they sparkle at night. default " src="https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/4-5-1024x576.jpg" alt="backyard of Greenwich home with vegetable garden" class="wp-image-347606" srcset="https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/4-5-1024x576.jpg 1024w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/4-5-300x169.jpg 300w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/4-5-768x432.jpg 768w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/4-5-1536x864.jpg 1536w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/4-5-2048x1152.jpg 2048w, https://www.sothebysrealty.com/extraordinary-living-blog/wp-content/uploads/2026/07/4-5-1200x675.jpg 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" The main level’s banks of French doors allow for an effortless flow between the stylish interiors and the professionally landscaped grounds. Creating a veil of privacy, mature privet hedges and colorful hydrangeas frame an expanse of emerald grass that affords ample room for established vegetable and flower gardens as well as the future addition of a swimming pool. The estate’s enviable position, on one of the neighborhood’s largest properties and atop one of the highest spots in Lucas Point, well above the flood line, makes this an elevated retreat in both the literal and the figurative sense of the word. All the delightful diversions of nearby Tod’s Point—miles of waterfront trails and beaches—are mere minutes away. Discover luxury homes for sale and rent around the world on sothebysrealty.com