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.
New development in Niseko sees strong sales
Sales in a new resort project in Niseko are off to a strong start with all villa lots sold. ‘Intuition’ is a condo-hotel and holiday home resort development by Hong Kong developer Zekkei Properties.
700 million USD condominium, hotel and retail project for Hokkaido’s Rusutsu Resort
Kamori Kanko, a Sapporo-based hotel operator, is planning an 80 billion Yen (approx. 717 million USD) overhaul of the Rusutsu Resort in Hokkaido.
The first stage of the project will include a 148-room luxury condominium-hotel with construction set to start next spring. The condominium will be called The Vale Rusutsu and will be 11 storeys with completion by December 2019. Rooms will range in size from 50 ~ 260 sqm (538 ~ 2,798 sq ft) and with prices expected to range from 40 ~ 300 million Yen (360,000 ~ 2,700,000 USD). Sales are scheduled to start this month. Owners will have the option of leasing their room to the hotel while they are not using it.Read more
New apartment prices in Sapporo at record high
The average price of a brand new apartment in Sapporo, Hokkaido, reached 32,082,000 Yen in 2013 - a level not seen since Japan’s bubble economy in the late 1980s. The rising prices have been brought on by the increasing cost of construction, an increase in the consumption tax rate which caused some last minute buying and an expansion in the tax reductions on home loans.
Industry insiders are expecting prices to continue to grow, but some are worried that the market could cool down if prices become unaffordable. Read more
Foreign developers caught by zoning regulations in Niseko
Development in parts of Niseko's ski fields is being stalled due to inconsistencies between national and prefectural government building approvals.
In recent years, a number of hotels in Niseko have been purchased by foreign funds, closed down and in many cases demolished. The foreign developers acquired the hotels with the aim of building condominium-type hotels and resort apartments which would then be sold to wealthy foreigners.
However, a number of these sites have been sitting vacant without any signs of construction.
Why the hold up?Read more
Hokkaido to sell Taisho era building
The Hokkaido prefectural government are looking for a buyer for the historic Archives of Hokkaido Annex Building in Sapporo City.
Built in 1926, the Taisho era building was designed by architect Atsumasa Hagiawara and built in the Vienna Secession style of architecture which was popular at the time. It is located to the south of the main Archives building, which was built in 1888 and used as the Hokkaido Government Office.Read more