DANANG VILLA REALTY

What is a Luxurious House?

About Okinawa Luxury House's

Previously, we discussed the concept of luxury real estate in general, including villas, apartments, income-generating hotels and inns, and more. In this section, we will dive into what we consider "luxury houses" in Okinawa, specifically focusing on the high-demand second homes, residences, and investment properties within the island's resorts.

※Luxury House Image Da Nang 7 Bed Rooms Villa

Five Common Characteristics of Luxury Houses

Luxury houses are typically characterized by:

1. Exceptional design and architecture
2. Stunning day and night views, as well as visually appealing buildings
3. Prime locations
4. State-of-the-art amenities and facilities
5. High-quality materials and furnishings

Due to the soaring land and construction costs in Okinawa, some properties that may not fully meet all luxury criteria can still exceed 300 million yen due to their size or location.

Luxury Houses in Okinawa

In Okinawa, the most sought-after locations for luxury houses are those with ocean views or oceanfront properties. Such properties are particularly rare in the western coastal areas of the main island (Ginowan, Chatan, Yomitan, Onna Village) and Miyakojima (Irabu Island, Shimoji Island). Moreover, finding full ocean view properties is challenging, and when available, land prices often exceed 1 million yen per "tsubo" (approximately 3.3 square meters). For a 100 tsubo plot with a standard reinforced concrete house of 100 square meters, construction costs can reach around 1.5 million yen per tsubo, bringing the total cost of land and construction to over 150 million yen.

Reference Prices for Oceanfront Land:

• Chatan Town: 2 million to 3.5 million yen per tsubo
• Yomitan Village: 1 million to 1.5 million yen per tsubo
• Onna Village: 1 million to 2 million yen per tsubo

Luxury houses in Okinawa not only offer ocean views or oceanfront locations but also boast exceptional building design, artwork, amenities, and overall high-quality, artistic, and modern features.

Average Construction Costs for Reinforced Concrete Houses on Okinawa's Main Island (approximately 1.2 times higher for remote islands):

• Standard specifications: 1.2 million to 1.5 million yen per tsubo
• High-quality specifications: 2 million yen or more per tsubo

Luxury Hotel Categorization and Luxury Houses

Let's take a look at the star-based rating system commonly used for hotels. Luxury hotels are categorized based on international standards and their own internal criteria, with stars assigned by countries or industry organizations after evaluating facilities and services.

• 5-star: Luxury Hotel (Highest class)
• 4-star: Upscale Hotel (High-class)
• 3-star: Mid-price Hotel (Mid-range)
• 2-star: Economy Hotel (Budget)
• 1-star: Budget Hotel (Low-cost)

The well known American travel guide "Forbes Travel Guide" is known for its rigorous evaluation process, involving over 900 criteria to assess hospitality excellence. Here are some examples of hotels that received a 5-star rating in the 2024 list:

5-star Hotels:

• The Peninsula Tokyo (Tokyo)
• Palace Hotel Tokyo (Tokyo)
• The Okura Tokyo (Tokyo)
• Takanawa Hanakaro (Tokyo)
• The Ritz-Carlton Tokyo (Tokyo)
• Mandarin Oriental Tokyo (Tokyo)
• HOTEL THE MITSUI KYOTO (Kyoto)
• Halekulani Okinawa (Okinawa)

4-star Hotels:

• Conrad Tokyo (Tokyo)
• Four Seasons Hotel Marunouchi Tokyo (Tokyo)
• Imperial Hotel Tokyo (Tokyo)
• Shangri-La Tokyo (Tokyo)
• Aman Tokyo (Tokyo)
• Andaz Tokyo (Tokyo)
• Grand Hyatt Tokyo (Tokyo)
• The Ritz-Carlton Okinawa (Okinawa)

In Okinawa, the Halekulani Okinawa is a 5-star hotel, while The Ritz-Carlton Okinawa is a 4-star hotel. Luxury hotels offer exceptional spaces, services, and an unforgettable experience. Each hotel has its unique charm, from exquisite rooms and restaurants to rejuvenating spas. The public spaces, room design, ambiance, and overall environment of these hotels can serve as excellent inspiration for creating luxury real estate. Luxury real estate and luxury houses can be considered the equivalent of a 5-star hotel rating.

By fulfilling these criteria, luxury homes are recognized as premium and luxurious living spaces, setting them apart from ordinary residences.

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Luxury House Standards

A luxury house is considered luxurious if it has all the features associated with extravagance and refinement. These characteristics are primarily determined by the property's location, as certain amenities may be considered luxurious in one area but not in another.

Popular amenities in luxury houses include:

• Spacious private swimming pool
• Large private spa or jacuzzi
• Private theater
• Private gym
• Two kitchens (one for gourmet cooking) and an outdoor kitchen

Types of Luxury Homes The luxury market encompasses a wide range of properties, from grand mansions to apartments. There are three main types of luxury homes:

1. Single-family homes
2. Apartments
3. Townhouses

Premium Houses (Smaller Luxury Houses) Due to rising land and construction costs in Okinawa, even properties with a floor area of less than 100 square meters can often exceed 100 million yen, especially if they are located in prime areas or have high-quality construction. We categorize such properties as "premium houses."

Advantages of Living in a Luxury House

• Enjoy a more comfortable lifestyle
• Benefit from spacious, relaxing areas
• Have the opportunity to create a space tailored to your preferences and lifestyle

Disadvantages of Living in a Luxury House

While many people believe that owning a luxury house is a sign of success, there are several disadvantages to consider beyond the initial purchase and maintenance costs.

Firstly, maintaining a luxury house is generally more expensive than maintaining a smaller home due to its size.

Secondly, there's no guarantee that your home's value will appreciate as much as you hope, especially if the design is unique or the surrounding area undergoes changes.

Luxury Real Estate as an Investment

Land and construction costs in Okinawa are unlikely to decrease in the future. In some areas, land prices have increased by 20-30% or more. By carefully considering factors like building design, layout, and amenities, you can potentially achieve capital gains when selling your luxury house. Additionally, depending on the location, you may be able to generate rental income or operate a hotel or inn.

Luxury House Specifications

Finally, let's discuss the different categories of luxury houses that we offer at VILLA. These include premium houses, luxury houses, super luxury houses, and ultra-luxury houses.

Premium House:

• Definition: High quality and location
• Building area: 100 square meters or more
• Layout: 2 bedrooms, 2 bathrooms or more
• Price: 200 million yen or more
• Amenities: Jacuzzi, small pool, 2-car garage or more
• Land area: 200 square meters or more

Luxury House:

• Definition: Prime location, luxurious amenities, and an exceptional experience
• Building area: 200 square meters or more
• Land area: 300 square meters or more
• Layout: 3 bedrooms, 2 bathrooms or more
• Price: 500 million yen or more
• Amenities: Private pool, jacuzzi, private gym, indoor garage for 3 or more large vehicles
• Security: State-of-the-art security system

Super Luxury House:

• Definition: In exceptionally rare location, offering an extraordinary experience for both the owner and guests
• Building area: 500 square meters or more
• Land area: 600 square meters or more
• Layout: 5 bedrooms, 5 bathrooms or more, 2 or more kitchens
• Price: 2 billion yen or more
• Amenities: Large private pool, private theater room, private gym, indoor garage for 5 or more large vehicles
• Security: Advanced security system to ensure privacy

Currently, as of September 24, 2024, there are no super-luxury houses available for sale in Okinawa (based on our research). However, at VILLA, we are excited to offer luxury and ultra-luxury houses to our clients.

If you're interested in purchasing or selling a luxury house in Okinawa, please feel free to contact VILLA.

Contact Information:

Phone: 098-869-3575

Email: infovilla-property.com

We also have an office in Vietnam, or inquiries about purchasing real estate in Da Nang, Vietnam, please contact us from the below website.

https://www.danangvillarealty.com