Your Ultimate Guide to Owning a Home in Hokkaido: Get Your Niseko Market Report Now!

Jun 26, 2023

The Niseko real estate market in Japan has emerged as a highly attractive destination for property investment, gaining even more momentum in the post-COVID era. With its stunning natural beauty, world-class skiing facilities and a renewed focus on safety and well-being, Niseko has become a sought-after haven for domestic and international buyers looking for secure and lucrative investment opportunities in a post-pandemic world.

In this report, we will review how the Niseko market performed post covid and where the Niseko market is heading in the coming years.

Niseko real estate
Night Falls on beautiful Hirafu Town

A change in the market

In previous years, the hotel condominium market was the most prominent in Niseko. With collective sales reaching over 1.3b USD in 2018-2019 during a time when Niseko experienced a “sellers' market” as the development sector struggled to meet demand. However, over the last couple of years Niseko has experienced a construction boom adding over 400 new luxury apartments to the area making it a “buyers’ market” once again. This has affected the market with a temporary slowdown in condominium sales.

The increase in construction also saw a rise in luxury estates such as Odin Hills, Drift and Intuition Furano and an increase in demand for chalet-style holiday homes from veteran visitors wanting to enjoy all the charm Niseko has to offer but at a slower pace.

The drop in the Japanese yen also saw a change in the market, which continued the upward momentum as investors wanted to protect their assets.

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Luxury Brands Now Calling Hokkaido Home

Niseko’s increased popularity over the last decade has attracted the attention of some of the world’s most coveted hotel operators. With luxury brands such as the Park Hyatt, Ritz Carlton, The Vale, Hilton now calling Niseko home and Banyan Tree, Nikko Style & the coveted Rosewood group all opening new Hotels in the 2024-2025 winter season, which will take Niseko’s reputation to new heights and see the market continue to rise.

The Most Sought-After Locations


Over the last decade, the village of Hirafu has been the focus of the Niseko area with a concentrated number of condominium accommodations and amenities while returning visitors are looking to explore different areas of Niseko there has been a rise in demand in the neighboring resorts and other areas of Hokkaido. With the opening of the Park Hyatt and its amenities in the Hanazono area, land sales and estates in the area have increased with projects such as Odin Hills, Kaba Niseko and Hana Creek leading the market

The Niseko Village, Kondo, & Annupuri areas have not only seen an increase in land sales for similar estates and chalet properties but will also welcome the Rosewood-operated New World La Plume Niseko Resort,

, which aims to bring the luxury brand level of luxury to Niseko Village as well as increasing the availability of amenities such as restaurants and bars to the area.

Check out the hottest listings in Niseko Houses- Land- Apartments


Rusutsu has been a slowly emerging area over the last decade, with its quiet lift lines varied terrain in winter and 4 golf courses and a theme park in summertime. With various chalet-style properties being built in the area the market has been steadily increasing and in December 2020, Rusutsu welcomed The Vale Rusutsu, the first condominium Hotel in the area. The hotel and resort are quickly providing great returns with record sales for the 22-23 season, which are expected to be beaten in the 23-24 season. With net returns of 3% expected for all properties in the area.

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Furano has become a hotspot for international investors in Japan's real estate market. Its captivating landscapes, outdoor activities and rich local culture have attracted global interest. Accessible from both Sapporo and Asahikawa Airports as well as by train, bus and limousine taxis, getting to Furano has never been easier, driving up demand for properties. The market offers a range of investment opportunities, with the welcoming of luxury apartments such as the Fenix or Kaku place & chalet-style properties to the area. With government support and growing year-round tourism, Kitanomine and the areas surrounding Furano (Naka Furano, Kami Furano, Biei and Higashikawa) present a promising investment landscape for international buyers.

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The Facts and Numbers:

At Nisade Real Estate, we prioritise facts and numbers. Our approach is to provide a perfect blend of both to provide a thorough & informative understanding of the real estate market. Count on us to deliver accurate information and insights for informed investment decisions. Trust Nisade Real Estate for a successful real estate journey.


In Niseko, luxury condominium prices have steadily increased over the past 5 years, ranging from 1.3 million to 2.5 million yen per square meter in Hirafu and nearby ski areas. This upward trend is expected to continue, as more inventory becomes available in the market.

Land prices have also risen due to the growing demand for chalets and luxury home builds. Affordable options can be found on the outskirts of the resort area, starting from 45,000 yen per square meter for larger plots, while more central resort areas command prices of up to 400,000 yen per square meter.


Land in Furano’s popular locations, such as Kitanomine and surroundings typically ranges from 100 sqm to 500 sqm or more. Prices start around ¥50,000 per sqm and can go up to ¥150,000 per sqm, depending on the specific location and size of the land.

Condominiums in sought-after areas like Furano Kitanomine and Furano Prince Hotel area range from 60 sqm and can go up to 200 sqm in size. Prices range from ¥200,000 per sqm for smaller units to ¥400,000 per sqm or higher for larger, luxurious condos with amenities and scenic views.

Houses in popular Furano locations, such as Furano City and Naka-fu, vary in size and style. Smaller or traditional residences typically range from 100 sqm to 200 sqm and cost around ¥300,000 per sqm to ¥500,000 per sqm. Larger, modern houses spanning 200 sqm or more may cost ¥500,000 per sqm or higher.


In Rustusu and the surrounding areas, including Niseko town and Makkari land prices exhibit their own dynamics. Land sizes typically range from 100 sqm to 500 sqm or more, with prices starting around ¥60,000 per sqm and reaching up to ¥200,000 per sqm or higher. These prices reflect the unique desirability and attractiveness of the locations in Rustusu and its neighboring areas.

The Vale Rustusu has been the first Condominium style hotel in the area it has control of the market with units ranging from 800,000- 1,800,000 per sqm depending on Unit size and Floor location

Quickly becoming more Sought-after than its neighboring areas of Niseko, Annupuri, and Moiwa . House and Chalet style properties of houses typically range from ¥400,000 per sqm to ¥700,000 per sqm. Larger, modern houses spanning 200 sqm or more can command prices of ¥700,000 per sqm or higher. These prices reflect the allure and quality of the properties in these exclusive areas.

Yotei rice field redlcetions
Mount Yotei in its alpine glow glory

The Future of Niseko and Hokkaido

The future of Niseko and Hokkaido's real estate market looks promising. With increasing international interest, the constant growth of investment options, infrastructure development, an expanding tourism industry, and government support, there are ample opportunities for investors and buyers.

The region is quickly becoming a year-round destination and with planned Shinkansen train link further contributes to its growth potential. Although Niseko remains the main focus of the Market Hokkaido`s Northern location and abundant powder snow, have shifted the market to Rusutsu and Furano offering a favorable environment for real estate investment for more years to come.

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