Tax bureau busts foreign investors in Niseko
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.
Is Furano the next Niseko?
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.
Foreigners buy 373 hectares of forestry in 2018
In 2018, foreign funds purchased 373 hectares of forestry across Japan. According to the Ministry of Agriculture, Forestry and Fisheries (MAFF), there were 30 acquisitions made across seven prefectures.
Boutique hotel to open in 88-yr old building in Otaru
This month, Tokyo-based developer, Global Agents, will open a boutique hotel in a historic 1930s building in Otaru, Hokkaido. The UNWIND HOTEL & BAR Otaru will have hotel rooms ranging from 15 ~ 40 sqm (161 ~ 430 sq.ft), along with a banquet / dining hall. This is the company’s second UNWIND-branded hotel, with the first located nearby in Sapporo.
Thai developer to invest further 100 billion Yen in Hokkaido ski resort
On February 4, Thai real estate developer Property Perfect announced plans to invest 100 billion Yen in their Kiroro Resort in Hokkaido over the next 10 years. The plans include expanding their ski facilities and building new luxury villas.
Niseko's luxury hotel and villa boom continues
There is no end in sight to the current construction boom in the ski resort town of Niseko in Hokkaido, with a number of luxury resorts and private villas under development. Spacious homes and apartments can easily fetch upwards of several hundred million Yen (several million USD). Rising construction costs and a labor shortage, however, are putting a strain on developers.Read more
Thai developer makes 30% on Niseko land sale
Thai-based property company Pace Development has sold a 14 hectare block of land in Hokkaido’s Niseko area for 2.05 billion Yen (approx. 18.8 million USD). The buyer was Richforest International Investments Ltd.
Pace had previously acquired the land in 2016 for approximately 1.56 billion Yen, resulting in a 30% gain over the past 18 months.Read more