Condo manager accused of 1.1 billion Yen embezzlement
The former chairperson of the owner’s association of a ski resort condominium in Niigata has been accused of allegedly embezzling 1.178 billion Yen (9.6 million USD) from the apartment building’s management and repair fund over the span of sixteen years.
The owner’s association filed a criminal complaint in an attempt to recover the 400 million Yen which falls within the statute of limitations. The former chairman allegedly falsified bank statements after transferring the funds to his personal bank account to purchase shares and make other personal investments. Read more
Chinese fund developing private golf course and resort in Hokkaido
Beijing-based fund Ittatsu Kokusai are developing an 18-hole private golf course and resort in Kimobetsu, Hokkaido.
Located about 30km east of Niseko, the resort will include 380 vacation home sites designed for wealthy Asian buyers. The project is estimated to cost around 10 billion Yen. The golf course has already been completed and sales will begin on the vacation lots from mid-October.
Want to live in Nagasaki's Huis Ten Bosch?
Huis Ten Bosch is a Dutch-style theme park spread over 152 hectares in Sasebo, Nagasaki. In addition to the popular theme park, there is also a small enclave of canal-front homes and apartments that can be purchased.
The gated residential estate is called Wassenaar - named after an affluent suburb in The Hague. There are 130 houses and 10 apartment buildings containing 120 apartments housing as many as 800 residents. As Huis Ten Bosch is only 30 minutes from downtown Sasebo, some residents live here full-time while others use their home as a weekender or on holidays. The homes were all designed in keeping with the Dutch theme, and have landscaped gardens, boat moorings and some have swimming pools. Read more
Karuizawa's vacation home market on the rebound
The upscale summer resort area of Karuizawa in Nagano Prefecture is seeing its property market rebound as a growing number of older residents from greater Tokyo are move in. In 2015 the extension of the bullet train line will connect Karuizawa with the Hokuriku region, making the area an even more convenient destination.
While the rest of the prefecture is still dealing with sluggish land values, the increase in demand for vacation homes in Karuizawa has started to push land prices upwards.
The town approved 338 holiday homes in 2013, up 9% from the year before. Read more
First resort condominium to be developed in Kinugawa, Nikko, in 20 years
The Kinugawa River Side Residence will be the first condominium to be built in Nikko's Kinugawa onsen resort area in almost 20 years.
It hasn't been a smooth journey for this particular development. The original developer - Zephyr - had completed construction up to the 3rd floor before filing for bankruptcy in July 2008. The bare concrete structure sat empty for the next five years until Yokohama-based developer Daiwa Jisho Group purchased the building and land and resumed construction in May 2013. Read more
Karuizawa population reaches record high
The population in Karuizawa has exceeded 20,000 residents for the first time since it received a town status in 1923.
From the 1980s to 1990s, the town's population hovered at around 15,000 residents, but began to grow again after the opening of the Nagano Shinkansen station shortened the trip to Tokyo to about 70 minutes. The town is estimating that the local population will reach 21,000 by 2022. The population in 1923 was 5,012 residents.Read more