Powderlife spoke to several local real-estate figures to get their thoughts on the 10/11 season and their projections for the future. Most indicated strong seasons, perhaps better than expected with Asian buyers from Hong Kong and Singapore a mainstay.
The map attached shows the developments expected to start construction this summer.
Grant Mitchell, Tracks Real Estate
Review: The season, like the snow, started slowly but had moments of intensity. Properties away from the ski lifts came back in fashion. Hong Kong buyers stayed dominant, but hurting from the strong yen, and Australian buyers started returning to the market.
Projections: Growing strength in the property market and gathering interest in Niseko as the world continues to find out how great a place it is.
Brian Lysne, Niseko Real Estate
Review: Niseko Real Estate has assisted in welcoming the next wave of investors to the region, with 2010/11 sales including upper village properties Goodsports, Yamada Onsen, Scot Hotel, J-First, and Kogen sites. These transactions represent a new level of investment into Hirafu, and are likely to change the face of ski-in/ski-out Niseko. Land sales in Hirafu’s lower village and around the outskirts of Niseko Village, Hanazono and Kutchan areas indicate that investors are prepared to look further afield for sound long-term investments. This bodes well for future summer as well as winter patronage.
Projections: 2011 promises to be a busy year with new properties and opportunities for buyers appearing. The international as well as domestic attention that Niseko enjoys is expected to increase.
John Barton, Meikle and Associates
Review: It has been good with a few sizeable sales and lots of enquiry. We are still a few weeks from the end of the season and would look to complete a few more deals in that time.
Projections: While the yen remains high, buyers are still quite wary and are looking for current levels to dip off slightly. It would also be good if finance was more readily available and we hear this may be on the cards. Fundamentally, there are some great things to look forward to in Niseko as key developments take shape – 2011 should be an interesting year.
Review: The season was far better than I expected. Sales of over 10 million USD. Ski-in ski-out properties and Asian buyers are still dominating the market.
Projections: More of the same! Hinode Hill and YTL to dominate the market, perhaps PCPD will come out of its shell.
Review: We saw the strongest sales period since 2007/2008 with a record number of enquiries. We sold a variety of properties from a spectacular 70,000 sqm development site to a 6-bedroom house in the Hirafu area. Interest outside of the ski villages for larger plots has been particularly high.
Projections: Based on the growth this season, it is feasible to project continued interest and sales over the entire Niseko area, especially from Asian buyers. It is an exciting time to be in Niseko.