Niseko Tourism and Property Market Review 2019
July 2019
Category: Tourism | Property
Overview
Niseko has continued to ignite the imagination of both overseas and a growing number of Japanese developers and investors, as property prices continue to soar. The tourism market experienced some volatility last year but this has been countered by strong growth in airlift and a diversification of inbound markets.
NISEKO’S TOP INTERNATIONAL VISITOR SOURCE MARKETS
With direct international flights from eight cities in Mainland China, the growing Chinese segment is highlighting the summer season and geographic source market shift. The rising number of Mainland Chinese pushed a 3-year CAGR of 13%.
In the property market, buyers from Hong Kong and Singapore have remained a core base of business. Asian-based buyers are rising with some developers tapping financial institutions to offer loans. Emerging regional buyers from Taiwan, Thailand, and Malaysia reflect the new Niseko reality.
Meanwhile, domestic buyers especially from outside Hokkaido are targeting investment in hotel branded projects and family-friendly properties. We are seeing Hirafu’s spillover demand radiate to peripheral areas including Higashiyama, Annupuri, and Hanazono, while broader alpine real estate development is spreading to farther away areas such as Furano.
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C9 Insider opinions
1
Total annual transaction value in the condominium segment hit USD1.3 billion, rising by 44% y-o-y while the house/land plot market accounted for USD273 million.
2
Sales prices between USD1 to 1.5 million are the sweet spot in condominium and house/land plot segments.
3
Direct international flights to Hokkaido increased to 22 cities with Manila - Philippines, Helsinki - Finland, Kaohsiung - Taiwan, Dailian – China and Vladivostok - Russia.
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