Standard land prices in Niseko far exceed bubble period levels

Niseko real estate News

In Hokkaido, the standard land prices in 2023 in the Niseko area, such as the world-famous snow resorts of Kutchan and Niseko, significantly exceeded prices in 1990 during the bubble period. The background is development by foreign companies. In Chitose City, land prices have also increased due to the expansion of Lapidus, which aims to mass produce cutting-edge semiconductors.

 

Niseko real estate company CEO’s perspective

Chitose City, where Lapidus operates, has regular demand for housing such as airport staff and civil servants. In addition, it was a town where wealthy people from Honshu often invested as second homes to enjoy summer golf. Kitahiroshima is a town developed as a commuter town in Sapporo. Large-scale stores such as outlet stores were opened to take advantage of the cheap land and proximity to Sapporo. For golf enthusiasts, the area is home to so many golf courses that it is even referred to as “Golf Ginza.” When the baseball team moved there from Sapporo Dome, investment fever suddenly accelerated.

In terms of increase/decrease rate during the bubble period, Sapporo is negative. However, there is demand for offices due to redevelopment around Sapporo Station and low rents.
“Is Niseko a bubble?” is a question often heard among investors. Niseko is home to luxury hotels like the Ritz-Carlton, Park Hyatt, and Aman that are not found in Sapporo. Large-scale development will continue for some time to come.

Real estate in Hokkaido is hot right now!

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