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."
- 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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