Japan’s first hotel-condominium* to be built in Hakone

On April 8, The Sankei Building Company, Tokyu Land Corporation, and Relo Vacations announced a hotel-condominium project for the Sengokuhara district in Hakone. This is the first hotel-condominium project in Japan to utilize the Home-Sharing Business Act (aka the Minpaku law) introduced in June 2018.

This law was introduced to regulate Airbnb-style home-sharing or short-term letting. Previously, all short-term stays of less than 30 days were regulated under much stricter hotel accommodation laws, with hosts required to obtain full hotel licenses. The new act still has rules, regulations, and licensing requirements but not to the same degree as a hotel. 

For this building, a buyer of the hotel-condominium room will enter into a leasing agreement with the operator that will allow the room to be leased out to hotel guests at times when the owner does not plan on using the room. The owner will be allowed to use their own room at a special price for a maximum of 100 days per year. For a buyer of the hotel-residence room, the operator will, for a maximum of 180 days a year, lease out the room to hotel guests for either the first or second half of each month. The owner will be able to use the room for the other half of the month for 185 days a year free of charge.

Rooms will be fitted out with bathrooms and kitchens, and washing machines in the hotel-residence rooms only, to allow for comfortable long-term stays. Rooms range in size from around 50 ~ 80 sqm (538 ~ 861 sq.ft). Solar panels will be fitted on the roof to supplement power usage in the common areas, and electric car charging stands will be installed in the car parking lot. 

The tentatively-named Hakone Sengokuhara Hotel Condominium – Hotel Residence is located 600 meters along the street from the Hakone Venetian Glass Museum and a 1-minute walk from the Sengokuhara Elementary School Bus Stop.

The 4-story building will have a total of 63 rooms, with 38 classed as hotel-condominiums and 25 classed as hotel-residences. Opening is scheduled for late 2023.

Sales are scheduled to start this June, with the first round of 13 apartments to be offered with prices ranging from 69.8 ~ 108.8 million Yen.

Location

Sengokuhara, Hakone, Kanagawa Prefecture

Source: The Sankei Building Company News Release, April 8, 2022.

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