A privately owned valley just several hundred metres from Hirafu is on the market for ¥700,000,000, or $US7m.
Spring Valley is a 10,800sqm (3280 tsubo) estate which frames a postcard view of Mt Yotei out its mouth.
The property – situated just past the base of the family lift on the way to St Moritz – has four small log cabins with plenty of space to build more.
Listing agent Niseko Property director Ruskin McLennan said it would likely end up a redevelopment site and was good value
“It has great views of Yotei, is only 5 minutes walk to the lifts and at that price is great value
“It provides opportunity for development or subdivision. It would be ideal for a developer who wanted to create a unique estate.”
McLennan said the land has been owned by the same family for about 20 years.