Niseko, Japan Property Market Review 2018

Overview

Unique attractions, ease of visa procedures, and emerging international flights have propelled Niseko’s tourism boom, as arrivals have continually grown since 2011. Foreign visitor arrivals impressively outperformed the domestic segment with year-on-year growth of 17% in 2017 and a 5-year CAGR of 16%.

NISEKO VISITOR ARRIVAL TREND

With an abundant choice of recreational activities, last summer season accounted for 48% of total yearly visitors. Notably, Asian visitors top 5 geographical source markets are Hong Kong, Mainland China, Korea, Taiwan, and Singapore.

Meanwhile, freehold ownership, a lower Japanese Yen, and high capital gains have boosted the real estate market in Niseko. The market-wide average selling price of condominiums grew 12.5% in 2017. Similarly, the average built-up price for condos in Niseko has soared 25% compared to last year. As of the end of the high season current property offerings are closing in to near the USD1 billion mark.