Hakodate City in Hokkaido has decided on a buyer for the former Russian Consulate. Built in 1908, this is the only consulate remaining from the Russian Empire era, with the interior still retaining its elaborate and decorative details.
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A survey by public broadcaster NHK has found that the there were 4,406 buildings and land parcels in Hokkaido owned by foreign funds and corporations as of January 2020. This is a 12% increase from 2019. Even with the international travel bans, some industry experts say acquisitions have continued throughout 2020 as foreign investors are confident that things will return to normal post-covid.
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Only a year after purchasing the resort and related hotels, the owner-operator of the Yubari Mount Racey Ski Resort is filing for bankruptcy. The closure of the city’s only ski resort and the only three hotels nearby have devastated the local tourism industry.
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Apex Property Limited, a Hong Kong developer founded by two female entrepreneurs, is launching a major resort and holiday villa project in Niseko’s Hanazono district.
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A large-scale condominium and resort-style project is planned for the winter ski town of Niseko. Construction is scheduled to start next year, with completion expected in winter 2023.
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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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