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Hotel brands on the rise as Niseko's land prices continue upward
Friday, 3rd September 2021
Source : Bill Barnett - Managing Director, C9 Hotelworks

Resort residential land plots sought by investment buyers.

'In a brooder sense, the highly tourist-reliant alpine resort area of Niseko hos remained attractive to real estate developers and international hotel operators during the pandemic.

Overseas investment sentiment has been positive, highlighted by projects such as Six Senses/Wealth Management Group (100 keys), Moxy/YTL Corporation Berhod (310 keys), and Copello/Shenning Investments (219 keys).

Also, new developments, namely New World Lo Plume Niseko Resort and Motie Niseko recently launched in the 2021 summer season. Hence, the 2021 Niseko property market has hit a high in new project/ off plan transactions of USD2.69 billion.

Although the current worldwide economic remains uncertain, domestic and foreign developers in Niseko ore receiving strong demand for land acquisitions of residential plots.

A number of projects ore reporting inspection cancellations from offshore buyers, however, there are luxury real estate sales that are completing.

Another segment seeing demand from bargain hunters is luxury penthouses or multi-million dollar holiday homes. 

Right: Primary Real Estate Market (Source: C9 Hotelworks Market Research)

Commercial and retail rental rotes hove retreated due to a lower number of tourists .

However, based on the Ministry of Land, Infrastructure, Transport, and Tourism in 2021 , the overage land appraisal in Kutchon hos continued to rise by 25% y-o-y, making it the highest growth rote in Japan."

Trends

  • Growth rote in condominium market prices has risen by l l % compared to 2020 Average unit soles median price is USD17,056 per square meter.
  • A number of completed projects ore offering soles¬†promotion discounts from 5% - 10% to shift inventory.
  • New accommodation tax rote at 2% of nightly room rote¬†has been implemented versus old system of per person charge on a flat rote basis

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