Yahoo Finance FMI sells 20 residential units and completes two enbloc deals during its Japan Expo on March 2
Nearly 500 people attended FMI's Japan Expo on March 2. (Picture: FMI)
Singapore-based property investment company FM Investment (FMI) successfully concluded a sales event on Saturday, March 2. The one-day event featured several of its Japanese residential properties for sale in Tokyo, Osaka, and Kyoto.
According to Amous Lee, CEO and founding partner of FMI, nearly 500 attendees turned up to listen to seminars on the Japanese property market and investment opportunities available with FMI. "It was a successful event for us. We closed more than 20 units and two en-bloc projects, which amounts to an impressive gross development value (GDV) of JPY1.39 billion," says Lee.
He adds that the Singapore government's persistent implementation of property cooling measures has caused more buyers to flock to new real estate investment opportunities abroad, such as in Japan. "This trend is particularly notable in Osaka, which is poised to host the World Expo in 2025 and to house Japan's 1st ever casino in 2030. Consequently, Osaka has become a magnet for global investors, with Singapore emerging as one of the top contributors in 2023," says Lee.
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Singaporean investors exhibit a strong focus on investment, asking pertinent questions to ensure they secure the desired property type. The anticipation surrounding the forthcoming World Expo and Integrated Resort has bolstered buyer confidence, motivating them to dive into the Osaka real estate market at this golden moment, says Lee. (Picture: FMI)
In addition, the favourable exchange rate between the Singapore Dollar and Japanese Yen is an 'exceptionally appealing option' for buyers, especially those who are keen to maximise their investment capital in SGD, he says, adding: "Singaporean investors exhibit a strong focus on investment, asking pertinent questions to ensure they secure the desired property type".
Among the showcased projects on March 2, Lee says that its project in Shinsaibashi, The Peak Shinsaibashi Prestige, was among the most popular among Singaporean-based buyers. "With an impressive 70% reservation rate, we anticipate selling out (The Peak Shinsaibashi Prestige) very soon. Even our The Peak Namba Minami Elite, a collaborative venture with Jean Yip Developments, launched specially for this Expo, witnessed remarkable success with seven investors securing units that day," says Lee.
FMI's Japan Expo event on March 2 saw the company sell 20 units as well as close the sale of two en-bloc projects. (Picture: FMI)
FMI also drew in enough investors to close the en-bloc sale of two properties. The first is a mixed-use commercial and residential building in Shinsaibashi, while the other is a land acquisition where FMI has been entrusted to oversee the design, construction, and subsequent property management on behalf of investors. Lee says that anticipated rental yields for this project range from 5% to 7% after completion.
FMI also unveiled its first landed project in Osaka, The Peak Presidence Hills. The company sold seven units, and Lee says the response was "overwhelmingly positive, with a notable influx of investors seeking units for personal occupancy or long-term rental purposes".
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