Niseko Kogen Hotel sold

Niseko Kogen Kanko, a subsidiary of Tokyu Land, announced that they will be selling the Niseko Kogen Hotel to an undisclosed buyer for just over 1 billion Yen. The buyer is said to be a fund based in Asia.

The Niseko Kogen Hotel will remain open until March, 2012, at which time the new buyer will take over the property. The hotel is aging, so it is expected that the new buyer will demolish and rebuild a high class international hotel on the site. The current 59 room, 4-storey hotel was built in 1975, and room rates start from 7,000 Yen/night (90 USD). In recent years, construction of new condominiums in the area have had a negative impact on the hotel's profitability. Read more

by Zoe Ward

Buying or renting a 'jiko bukken' in Japan

A "jiko bukken" is a property where the former occupant died of unnatural causes, such as suicide, murder, fire or neglect. They can be rented or purchased at very low prices, provided you are okay with the 'history' of the home or apartment. There are a growing number of individuals and companies that specialize in purchasing these properties at huge discounts, and either renting them out of re-selling in the future. In the case of a house, the house may be demolished and the land re-sold.Read more

by Zoe Ward