Karuizawa resort condos sell out
On November 29, real estate company ES-CON JAPAN announced that all 37 resort-style apartments developed in conjunction with Ost Development G.K. in Karuizawa had sold out prior to completion.
Historic home matching service for Karuizawa
In an effort to save the historic holiday villas of Karuizawa, a matching-service has been set up by the Karuizawa Cultural Heritage Preservation Association.
Karuizawa home of Nobel Prize winner demolished
The historic holiday home of Nobel Prize for Literature winner Yasunari Kawabata in Karuizawa has been demolished this month. The town had petitioned the current owner to allow the structure to be relocated but was unable to obtain their approval.
Quick real estate news summary for the week
New hotel opens in Karuizawa, typhoon damage to Japan’s oldest apartment building, and office rents drop for the first time in 7 years. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
Restauranteur planning hotels for Karuizawa and Nasu
Restaurant and wedding function company, Hiramatsu, has announced plans to open an additional two auberge-style resorts in Karuizawa and Nasu.
Both resorts will have around 30 guest suites and are scheduled to open in 2020. The Karuizawa property is located on a 53,000 sqm site of leased land in Miyota Town, just west of Karuizawa. Annual revenues are forecast to be 1.1 billion Yen (approx. 10 million USD), and the total investment will be around 3 billion Yen (approx. 27 million USD).