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.
Hakuba to create database of real estate owned by foreigners
The town of Hakuba in Nagano Prefecture is about to start keeping track of real estate owned by foreigners. This database will be the first of its kind in the prefecture.
Bankruptcies continue at Japan’s ski resorts
Japan is seeing a growing number of ski resorts file for bankruptcy as warmer winters are causing less snowfall and shorter ski seasons. Over the past 20 years there have been 52 ski field operators file for bankruptcy. As global temperatures continue to rise, more closures are expected to follow.
Aussie tourists turn their back on Niseko
Australians have been a long staple of Niseko’s winter crowd. But, recent tourist numbers show a shifting trend as Aussies shun the slopes of Niseko for the ski fields in Honshu.
In 2018, foreign tourists spent a total of 465,000 nights in Niseko. Visitors from Hong Kong, Singapore and other countries in Asia are up, while visitor numbers from Australia are down by much as 20% since 2015.
Nagano ski field closes due to lack of snow, skiers, buyers
The Iizuna Kogen Ski Area in Nagano will close in March due to a declining domestic ski industry and a lack of snow. Nagano City has had no luck finding anyone interested in taking over the 60 hectare ski fields.
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.
Nagano's ski resort divide
While Nagano’s urban areas are seeing a slowing in the rate of decline in land prices, one district in the prefecture is seeing no end to eroding land values.
The Hirao district in Yamanouchi Town, known for being home to the Jigokudani Monkey Park and several ski areas, is also home to the steepest drop in both commercial and residential land values in the prefecture. According to the Standard Land Prices issued by the Ministry of Land, Infrastructure, Transport and Tourism, the rate of decline at several survey locations in Hirao worsened in 2018. Land values dropped by between 2 ~ 4% in 2018. In some locations land prices have declined year-on-year since the late 1990s. Read more