Niseko's property market hits $2.69B in new project transactions

PropertyGuru Asia Property Awards (Greater Niseko) Jury Chair Bill Barnett shares a market review of Niseko’s alpine resort area

Niseko’s property market this year reaches a high of USD2.69 billion in new project/off-plan transactions. JACKPhotographer/Shutterstock

Amid the pandemic, Niseko’s alpine resort area has remained attractive among real-estate developers and international hotel operators, said C9 Hotelworks.

Projects such as Six Senses/Wealth Management Group (100 keys), Moxy/YTL Corporation Berhad (310 keys), and Capella/Shenning Investments (219 keys) show positive overseas investment sentiment.

The C9 Hotelworks new Niseko Property Market Update 2021 reveals that two new developments were recently launched in the 2021 summer season, namely New World La Plume Niseko Resort and Matie Niseko.

As a result, Niseko’s property market this year reaches a high of USD2.69 billion in new project/off-plan transactions.

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Moreover, domestic and foreign developers in Niseko continue to receive strong demand for land acquisitions of residential plots, despite the current worldwide economic uncertainty.

Bill Barnett, managing director at C9 Hotelworks and jury chairperson of the highly acclaimed PropertyGuru Asia Property Awards (Greater Niseko), said, “Residential development plots are the hot ticket this year. A strong demonstrated trend of appreciation and favourable long-term outlook is fuelling investment demand.”

More: 5 of the best resort style residences in Asia

Commercial and retail rental rates have decreased, as a result of the lower number of tourists.

Nevertheless, the average land appraisal in Kutchan has continued to increase by 25 percent year-on-year in 2021, the highest growth rate in Japan, according to the Ministry of Land, Infrastructure, Transport, and Tourism.

Hear more about this market update from Bill Barnett himself: