International travel bans and a state of emergency have seen the highly tourist-reliant ski towns in Niseko and surrounding towns suffer from a steep fall in employment and a sharp uptick in vacant apartments.
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South Korean conglomerate Hanwha Group is planning a large-scale condominium project for the winter ski resort town of Niseko in Hokkaido. This would be the first major development by a South Korean company in Niseko.
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Hakodate City in Hokkaido is looking to sell the 112-year old former Russian Consulate within the year but has met strong opposition from local historians. The building has been sitting vacant for the past 24 years.
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The winter ski resort district of Niseko in Hokkaido has been home to the highest land price increases in Japan for the past few years as it undergoes a rapid change into a high-class ski destination for Asia’s wealthy. However, the boom times may have come to a crashing halt as the novel coronavirus wreaks havoc with the tourist-dependent town.
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On November 29, Hokkaido Governor Naomichi Suzuki announced that the prefecture is backing out of the race for Japan’s first integrated resort (IR). The decision was made due to environmental concerns.
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The number of vacant homes in Sapporo City is on the decline. In 2018, the Ministry of Internal Affairs and Communications reported 125,400 vacant homes and apartments within the city, resulting in a ratio of 11.9%. This was the first year since 1993 to see a decline. What is causing it?
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The popular ski resort of Niseko in Hokkaido has joined the ranks of districts with accommodation taxes. Kutchan Town introduced the tax on November 1. It will apply to all types of accommodation providers, including hotels and minpaku-style operators.
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A Tokyo-based real estate company plans to build a number of luxury farm-style houses in Hokkaido to sell to wealthy foreigners. Sales began on September 1, with homes priced from 420 million Yen (approx. 4 million USD).
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The Sapporo Regional Taxation Bureau has identified several domestic and foreign real estate companies and investors for failing to declare income made on real estate transactions in Niseko. Some say this recent bust may just be the tip of the iceberg.
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As land values in Niseko skyrocket, investors have been shifting their attention to more affordable ski locations around Hokkaido. One of those destinations is Furano which is seeing an influx in foreign investment and foreign tourists. Located 110 kilometers north-east of Sapporo, or a 2-hour drive, the city is becoming increasingly known for its high-quality powder snow.
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