The upscale summer resort area of Karuizawa in Nagano Prefecture is seeing its property market rebound as a growing number of older residents from greater Tokyo are move in. In 2015 the extension of the bullet train line will connect Karuizawa with the Hokuriku region, making the area an even more convenient destination.
While the rest of the prefecture is still dealing with sluggish land values, the increase in demand for vacation homes in Karuizawa has started to push land prices upwards.
The town approved 338 holiday homes in 2013, up 9% from the year before.