Savills Residence, a home away from home

The serviced apartment sector has recently received a boost due to the traditional peak season experienced in the residential leasing market, traditionally occurring around September when the new school semester begins. Under such market conditions, it is the quality of services that distinguishes a product from other similar products and impacts a tenants’ final decision. Savills Residence, the serviced apartment brand of Savills, has set a high benchmark for serviced apartment operators, benefiting from global market insights and years of professional experience of Savills, one of the Top 5 British Enterprises in China.

Savills Residence currently offers four individual brands, each with a differentiated service offering — namely Savills Residence Suites, Savills Residence, Savills Residence Apartments, and Savills Residence Just Living. Each brand is tailored to respective target client groups in the local markets.

Star products support the on-going brand development of Savills Residence

The earliest serviced apartments in China were introduced in Shanghai in the mid-to-late 1990s when a large amount of foreign capital entered China and Shanghai further eased its land policy. These first serviced apartment major target clients were senior expat executives on long-term assignments.

The year 2009 saw the establishment of Savills Residence, as international property advisor Savills had the foresight to expect a booming serviced apartment market in China. Since then, Savills has continued to actively exploring the Chinese market.

“Savills Residence has seen rapid expansion over the past few years. We have launched several serviced apartment products that are now highly sought after by tenants. This success has in turn underpinned our growing prestige within the industry.” Albert Lau, CEO of Savills China said, proud of the great achievements Savills Residence has achieved in less than eight years.

• Savills Residence Hongqiao: providing perfect service in cosmopolitan Shanghai

It is no coincidence that Shanghai became the very early serviced apartment market in China, given its mature economy and cosmopolitan lifestyle. The influx of foreign enterprises into Shanghai over recent years has fuelled the demand for rented housing among expat executives and long-term business travellers. Seeing great potential in the market, Savills Residence decided to launch its first serviced line in Shanghai, of which Savills Residence Hongqiao has turned out to be milestone project with a nearly 100% year-round occupancy rate.

Centrally located in the Gubei area, Savills Residence Hongqiao is a role model in Shanghai’s high-end serviced apartment market. It incorporates the idea of a high quality lifestyle and seeks to create a homely living space through perfected, customised services. Positioned as a tastful boutique serviced apartment project, Savills Residence Hongqiao has enjoyed significant attention since its launch.

Lee Mi Young from South Korea and her German husband, parents to two lovely daughters, have lived in Savills Residence Hongqiao for over two years.

“I am very satisfied with both the facilities and services here. They (Savills Residence) also hold parties or other interesting activities, such as making refreshments, at the Gallery on a regular basis. It’s really thoughtful and sweet, and makes me feel at home.”

• Savills Residence Daxin Shenzhen Bay: a world-class community in dynamic Shenzhen

With an established presence in Shanghai, Savills Residence then turned to South China which displayed large amounts of untapped demand. In 2015, Savills Residence Daxin Shenzhen Bay was launched in the coastal city. The project achieved an occupancy rate of over 50% within eight months of launching, a record-breaking performance in the local serviced apartment market.

Located on Houhaibin Road in the Shekou district, Savills Residence Daxin Shenzhen Bay is the largest world-class serviced apartment project in Shenzhen. It enjoys close proximity to a number of international schools as well as the Shenzhen Bay Port. Each apartment has been fitted out and decorated to the highest standard level. The communal areas provides a full range of facilities and services as usually seen in an upscale hotel, including a fully equipped gym, sauna and steam room, yoga and aerobic rooms, as well as an indoor cinema and catering services.

Berntzen from Poland, together with her daughter and Norwagian husband, has lived in Savills Residence Daxin Shenzhen Bay for over a year.

“The buildings and settings create a feeling of luxury, not to mention their unrivalled location and pleasant environment. We can enjoy a wide variety of facilities and services. Most importantly, the staff here see our needs as their top priority and they have been very helpful to me. I came from a place far away in Poland, but the comfortable and safe life here makes me feel at home.”

• Just Living by Savills Residence: a people-centric living experience in Tianjin

As a part of its expansion plan, Savills Residence began to look for more opportunites in Northern China and other second-tier cities with a new serviced apartment offering, Just Living. Seeing much untapped demand, Savills Residence chose Tianjin as their first stop to launch Just Living, thus embarking on a new chapter of brand development.

The minimalistic design and natural tones makes Just Living aesthetically pleasing for its target tenant group. With an emphasis on functionality and practicality, the efficient use of space helps to create a comfortable living space. Just Living features diverse service options where tenants can choose the frequency and type of services they prefer. On the other hand, flexible contract terms starting from as little as a few days will appeal to guests with short-term needs, such as tourists, in addition to the more traditional long-term tenants.

Mr. Nakamura Fumihiko, a Japanese American teaching at a well-known university in Tianjin, finds the location and services of Just Living quite appealing.

“Just Living is ideally located. There are bus stops, shops and department stores all in the neighborhood, which is so convinient for me. The services at Just Living are also quite satisfactory. I am particulary impressed by the efficiency of the staff when solving any problems.”

The future of Savills Residence

With existing projects in Shanghai, Shenzhen and Tianjin, Savills Residence is looking at further expansion. Meanwhile, it is responsible for a dozen of full management projects, with a number of which to be launched soon in Shanghai, Hangzhou, Chengdu, Shenyang and Taipei.

Ingrid Kamphuis, Director of Savills Residence said: “Savills Residence has become increasingly mature since its establishment nearly ten years ago. As this serviced apartment brand continues to grow in prestige, we look to develop more quality projects in a wider range of cities, and we are confident in meeting the accommdation needs of various tenant groups.”

Editor’s Notes

Savills Residence offers four unique services offerings, namely Savills Residence Suites, Savills Residence, Savills Residence Apartments, and Savills Residence Just Living.

The aforementioned four serviced apartment products are created under the same concept yet distinctive in their own ways, providing customised and high-end living experiences for their respective tenant groups.

Savills Residence Suites — Located in prime downtown areas, serving senior executives and diplomatic officers. The Savills Residence team provides top-class services comparable with those in six-star luxury hotels.

Savills Residence — High-end living space set in a welcoming environment. Located within close proximity to the CBD, Savills Residence mainly caters to the needs of mid-to senior level management and long-term secondees.

Savills Residence Apartments — From CBD locations to suburban areas, the thoughtfully designed apartments provide a stylish and well-ordered living space for seconded staff on both short and long business trips.

Savills Residence Just Living — An urban trendsetter that combines style and convenience. The apartments feature a well thought out layout that creates a relaxing and comfortable living space.

* Savills Residence solely managed projects

Shanghai
Savills Residence Hongqiao
Savills Residence Sunland
Savills Residence Topchoice Plaza

Shenzhen:
Savills Residence Daxin Shenzhen Bay

Chengdu:
Savills Residence Chengdu

Tianjin:
Just Living by Savills Residence Tianjin

* Savills Residence consultancy projects

Shanghai:
Shanghai Tower
Savills Residence service: marketing study, positioning and financial analysis, technical service
K.Wah Group-Grand Summit
Savills Residence service: market investment consultancy, financial consultancy and asset management
Swire Properties-Da Zhong Li
Savills Residence service: market investment consultancy and financial consultancy
K.Wah Group-The Palace
Savills Residence service: market investment consultancy and financial consultancy

Nanjing:
Nanjing Biancheng Group-Four Season Hotels and Private Residences
Savills Residence service: market investment consultancy and financial consultancy

Fuzhou:
Baosteel Group-Fuzhou Project
Savills Residence service: feasibility and market investment consultancy