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  • Investing in Kyoto real estate is not just property itself.

  • You actually have the privilege to own a piece of history.

  • My name is Yong Chye.

  • I did Economics at Osaka University.

  • Four of us started this serviced accommodation business

  • in the heart of Kyoto,

  • consisting of restored Kyoto townhouses or machiya.

  • The first two buildings that we invested in are over 100 years old.

  • They have seen many people.

  • They have had the experience of many people living in them.

  • Kyoto was one of the places in Japan

  • that was spared the bombings in WWII.

  • Many parts of Kyoto are very well-preserved.

  • This is the heritage that

  • we have a privilege of being a part of

  • as owners of real estate in Kyoto.

  • This is the part that really appealed to me.

  • If we want to do something, we have to do it well.

  • I suppose it wouldn't be a stretch to say that

  • the Japanese craftsmen that we worked with

  • brought this to the extreme

  • in seeking that perfection.

  • Previous renovations and refurbishments

  • were done probably in the 70s or 80s.

  • They actually drilled away the timber beam

  • to create a space for the gas pipe to go through.

  • Then we said, okay.

  • We need to do something about that.

  • The craftsmen actually not only

  • carved out a piece of wood

  • for the entire length of that beam

  • that could fit in just like a Jenga block.

  • They actually sanded it down and

  • varnished the entire beam

  • such that it looked like one perfect beam.

  • To top it all off,

  • it's actually hidden by a false wall today.

  • Japan has an onerous taxation system.

  • There are many instances where

  • the beneficiaries would have to end up demolishing old buildings

  • because they had to raise funds to pay the inheritance taxes.

  • We thought that it would be meaningful

  • for us as students of Japan

  • to pitch in with our own resources

  • to play a part in preserving this heritage

  • not just for Japan,

  • but for the rest of the world

  • to continue to come to appreciate and enjoy.

  • Given that foreign travel is non-existent,

  • we've also worked hard

  • to pivot towards other sources of demands.

  • That took the shape of focusing on

  • a monthly leasing model.

  • Hopefully in the second half of the year,

  • when vaccination programs are ramped up further

  • and gain tractions,

  • there'll be more confidence as well as

  • natural flows from both domestic and foreign tourists.

  • Hopefully then, we will finally see

  • light at the end of the tunnel.

Investing in Kyoto real estate is not just property itself.

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B1 US kyoto beam privilege heritage real estate estate

The Singaporean Who Saved Kyoto Traditional Townhouses / 消えゆく京町家を守るシンガポール人 【Akadot TV】

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    nao posted on 2021/06/16
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