Matiè Penthouse Breaks Niseko Price Record Despite Travel Restrictions

Buyers are paying record prices to secure prime condominium resort real estate, despite two years since foreign tourists set ski on Niseko snow.

A penthouse in ski-in/ski-out condo-hotel Matiè Niseko has reportedly sold for more than JPY 1.2 billion (approx USD 10.5 million) to a Thai buyer.

The per square metre price is believed to have been about JPY 3.1 million (approx USD 27,000/sqm | 2,500 psf), which includes private onsen (hot spring) bath, 64sqm terrace and exclusive car space.

The 411sqm, 5-bedroom penthouse – one of five in the building – is oriented looking directly up the ski hill, as opposed to the opposite Mt Yotei volcano view.

Several other non-penthouse apartments have sold for JPY 2.5-2.9 million/sqm.

Currently under construction, Matie Niseko will be a seven-story, 114-unit condominium set on a prime location on the edge of the Hirafu ski slopes just above the Hirafu Gondola, and will also have its own small ski run and ski lift.

A show suite (pictured) was opened on the site this winter for potential buyers.

Niseko Real Estate Sales Director Jess Ripper said about 30% of the apartments had sold and expected strong sales to continue.

“Obviously the market is a bit slow but units are still selling, and some of them are selling at really, really high prices that really haven’t even been achieved before here in Niseko.

“So it’s really interesting time to see that people are willing to spend big, big bucks. There are just not as many of those buyers around at the moment, but they are still out there.

“I think everyone is projecting that once people can get here, we will see things start to boom again, and probably boom pretty quickly and pretty significantly.”

Ripper said the location was the major factor driving Matiè sales.

“First it was Ki, then it was Aya then Skye. It always seems like people are waiting on that next exciting ski-in, ski-out location, and at the moment Matiè is it.”

The location is at the very top of Upper Hirafu, with the ski slopes running either side and well past the property to the bottom of the upper village.

Ripper said there had been several sales to Thai and Chinese buyers, as well as from a mix from other Asian countries including Taiwan and Malaysia, as well as multiple sales to Japanese investors

He said demand for the top-end units seemed to have been higher with Matiè than previous ski-in/ski-out properties.

“What I’m noticing with these people who are willing to spend two and a half to 3 million yen per square meter is that obviously money is not an issue so they’re willing to pay for the premium units.

“It’s a bit of an unusual trend because in our experience when we’ve sold Aya and Ki and similar developments in the past, the trend has usually been the lower floor/cheaper apartments that will sell out first.

“We’re not really seeing the second floor selling out the quickest – we’re having buyers, and quite a lot of buyers, go straight to upper floors and more expensive units with better, elevated views.”

Matiè Niseko will include a range of services and amenities on-site including multiple restaurants, deli and café, shopping and relaxation spa, ski hire and ski valet.

A seventh-floor “infinity onsen” will be available to all guests with views to Mt Yotei.

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