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.

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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.

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Nitori acquires 118-yr old ryokan in Hokkaido

Furniture company Nitori Holdings is entering the boutique hotel industry with the acquisition of a historic hot spring hotel in Hokkaido’s port city of Otaru. The sale price has not been disclosed.

Ginrinsou has long been considered one of Hokkaido’s leading onsen inns. The three-story ryokan sits on a prominent hilltop location overlooking Otaru’s port district and Ishikari Bay. An additional five-story concrete building was added to the ryokan at a cost of 400 million Yen, bringing the total floor space up to 3000 sqm. Nightly room rates at the 14-room ryokan are around 37,000 Yen per person.

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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.

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Niseko luxury condominium/hotel opens this month

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AYA Niseko, a luxury ski-in ski-out condominium/hotel located on the Grand Hirafu Resort ski slope, opened its doors this month. The 79-unit building is already almost 90% sold out, with the final few apartments expected to sell over the ski season.

The majority of apartments were in the 88 ~ 90 sqm range and priced from 100 ~ 400 million Yen (approx. 850,000 ~ 3.4 million USD), while a 370 sqm penthouse, which has already sold, was priced at 600 million Yen (approx. 5.1 million USD). Apartment prices are similar to what can be found in central Tokyo.

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