Niseko Tourism and Property Market Report 2019

Overview

In the past five years, international passenger arrivals at New Chitose Airport achieved a CAGR growth rate of 24%. Rising airlift has also positively impacted the alpine tourism market of Niseko with a CAGR 12% surge in demand. Three factors have contributed to Niseko’s positive tourism growth (i) Japan’s international tourism promotion campaign, (ii) the ease of visa restrictions and (iii) increasing direct international flights to the gateway airport.

NISEKO’S INTERNATIONAL VISITOR ARRIVALS

The Niseko property market is currently being fueled by a new wave of investment-oriented purchasers of condominiums units, focused on rental management schemes and expectations of high recurring yields. Another emerging trend is in house lots, where projects are located in areas expecting strong price appreciation. The limited availability of land with ski-in-ski-out facilities, Mount Yotei views, and prime Hirafu locations is pushing developers into new locations and creating more diversity in the marketplace.

Due to premium seasonal rentals and overall demand outpacing supply, the value of prime properties in the secondary market has appreciated on average 40% – 70% over launch prices. Hence, the rental-managed real estate market in Niseko has experienced remarkable growth; though concerns are mounting over speculation concerns. 

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