OYO sells short-term letting unit, New World resort for Niseko, and DeNa moves into WeWork. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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Six Senses to open in Niseko
A Six Senses resort is coming to Niseko in 2024 ~ 2025. On April 8, the Hokkaido Shimbun newspaper reported that IHG Hotels & Resorts is planning the luxury hotel for the Hirafu district.
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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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Quick real estate news summary for the week
Homebuyer preferences change as pandemic continues, Nikko-branded hotel for Niseko, and Singapore funds see value in Japan’s logistics market. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
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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).
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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.
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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.
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Job losses in Niseko putting pressure on rental market
International travel bans and a state of emergency have seen the highly tourist-reliant ski towns in Niseko and surrounding towns suffer from a steep fall in employment and a sharp uptick in vacant apartments.
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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.
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Foreign investors keep their distance from Niseko
The winter ski resort district of Niseko in Hokkaido has been home to the highest land price increases in Japan for the past few years as it undergoes a rapid change into a high-class ski destination for Asia’s wealthy. However, the boom times may have come to a crashing halt as the novel coronavirus wreaks havoc with the tourist-dependent town.
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