“It’s no longer about owning or renting—it’s about accessing.”

So says the manager of a Hong Kong-based family office, whose eye is firmly on a rising global trend: subscription-based residential living.

Rapidly expanding in markets like the U.S., Europe, and Singapore, this model offers a new paradigm for affluent individuals seeking flexibility, global mobility, and experiential luxury. And now, that quiet wave is beginning to reach Japan.

■ The End of Ownership: The Rise of Subscription-Based Living

Traditional residential investment and occupancy models have long centered around a binary choice: to buy or to rent. But as affluent lifestyles become more dynamic and mobility-driven, a third path has emerged—fixed-rate access to premium residences across global cities.

In the West, platforms like Blueground, The Guild, and Anyplace are redefining how the wealthy experience urban living. For a monthly fee, clients can move seamlessly between meticulously curated apartments in cities around the world.

Now, this movement is quietly gaining ground in Japan—particularly in urban luxury hubs such as Tokyo, Kyoto, and Fukuoka.

■ Why Flexibility Is Becoming the New Luxury for Global High-Net-Worth Individuals

Why are today’s affluent individuals increasingly drawn to subscription-based living? The answer lies in three key values redefining modern luxury:

1. Agility in Lifestyle
A Thai entrepreneur spends a month in Tokyo, then transitions to Kyoto, and escapes to Karuizawa for the summer. Subscription residences allow the ultra-wealthy to break free from the traditional notion of owning a single home, offering a fluid and spontaneous way of living.

2. Frictionless Living
Fully furnished units, high-speed internet, utilities included, and contracts completed entirely online. With concierge support available in multiple languages, even non-Japanese speakers can enjoy a stress-free living experience in Japan’s premier locales.

3. Strategic Asset Efficiency
Globally, HNWIs are shifting from ownership to access. In an age where asset diversification spans multiple jurisdictions, avoiding property-related taxes and upkeep makes subscribing more appealing than holding—a smarter, more agile wealth strategy.

■ Is Subscription Living Reshaping the Traditional Real Estate Ownership Model?

The rise of subscription-based housing is already beginning to reshape the real estate industry.

Traditionally, developers focused on a “build-to-sell” model. But with growing demand for mid-to-long-term stays, a paradigm shift is underway—toward designing properties that retain affluent tenants with flexible, high-quality living arrangements. This model fosters a new “residential economy” that exists somewhere between tourism and investment.

Furthermore, increased competition—and collaboration—with the hospitality sector is anticipated. Several luxury hotels have already launched monthly residential plans tailored to long-term stays. As a result, the subscription housing model is rapidly dissolving the traditional boundaries between temporary accommodation and permanent residence.

■ Opportunities for Japan in the Luxury Real Estate Market

This trend presents a significant tailwind for Japan’s premium real estate sector.

• An abundance of vacant properties in urban centers

• Immaculately clean and safe streets

• An advanced public transportation network

• Stable pricing and economic environment

• Geographical proximity to affluent Asian clientele who prefer multi-location lifestyles

These factors make Japan exceptionally well-suited for the introduction of subscription-based luxury residences.

Additionally, there is strong potential for “inbound-style subscription housing” in regional cities. Destinations such as onsen resorts and historical locales—though less ideal for permanent residency—are increasingly attractive to individuals seeking seasonal or short-term stays with a luxury experience.

■ From Ownership to Freedom: Curated Living as the New Standard for the Affluent

There was a time when real estate held value only through ownership.

Today, that definition is being reimagined.

It’s no longer about “living for the day” — but rather “living for the mood.”

Flexibility, mobility, and liberation from constraints are the new luxuries. The ability to choose your lifestyle, to relocate at will, and yet enjoy the consistent quality of life that Japan offers — wherever you are — may well become the preferred way affluent global citizens engage with real estate in the years ahead.