Hokkaido sees 12% more offshore investors between 2019 and 2020
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.
Yubari Resort to file for bankruptcy citing pandemic-induced tourism downturn
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.
Quick real estate news summary for the week
Homebuilder to provide antiviral coating in new homes, Takanawa condo goes on sale, and Sapporo to have highest tower in Hokkaido in 2023. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
US$600million+ resort condo development for Niseko
Another week, another multi-billion Yen project announced for Niseko. Singapore-based Shenning Investments is developing a luxury Capella-branded resort in Niseko’s Hanazono district with a planned opening in 2024 ~ 2025. The total cost of the project has not been disclosed but some have estimated it to be over 70 billion Yen (approx. 664 million USD).
10 billion Yen resort development for Hanazono, Niseko
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.
100-room condo resort planned for Niseko
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.
South Korean company to develop condos in Niseko
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.