Niseko Property Market Picks Up “Post-COVID”

Photo Aaron Jamieson

Following a general slowdown in the Niseko real estate market since the start of the pandemic, agents are reporting a return of interest.

H2 Real Estate Sales Director Paul Butkovich said inquiry had doubled in recent weeks.

“It’s feeling like we’re hitting that inflection point in the market,” Butkovich said.

He said vaccination rates and borders opening were the main triggers.

“As vaccination rates have increased around the world it feels like people’s confidence is increasing that travel will resume sooner than later,” he said.

“They’re feeling that sooner than later, they’re going to be able to use it, and the perfect time to buy is just before the market gets here.

“For resort property as well, obviously Japan’s one of the places that’s going to open up soon and there will be a travel boom.”

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Niseko Real Estate Sales Consultant Patrick Lyon said there was increased volume and commitment from buyers.

“I think people are more engaged and are now researching more actively than they may have been a year or so ago.”

“It is tempered with the fact that people still can’t get here but, overall, sentiment I think is much more positive now – it feels like there’s light at the end of the tunnel.”

Lyon said most of their inquiry had been for Matié, but also people were “exploring slightly further afield”.

“The focus used to be just basically Hirafu only, but I feel now people are looking at Makkari, Niseko Town, Kondo and the other resort areas.”

Singapore, Hong Kong and Chinese buyers are “still the heavy hitters”, but Lyon noted inquiries over the past few months from Thailand, Taiwan and Korea, the latter perhaps off the back of Korean-backed Matié.