Niseko Real Estate Interest & Transactions Up Over Winter

Niseko real estate enquiries and transactions returned to pre-COVID levels and beyond following a busy winter.

According to Niseko real estate agents, there was a sharp increase in enquiries buoyed by increased visitor numbers over the second season following COVID.

H2 Christie’s International Real Estate Sales Director Paul Butkovich reported that their transactions were 26% higher than last winter.

Uptick in Chinese Investment

Meanwhile there was a noticeable uptick in transactions out of China, despite Chinese visitor numbers being down for the second season in a row following COVID.

Jess Ripper, Niseko Real Estate Sales Director, said that despite this, Chinese enquiry and transactions have been significantly up this winter season.

Butkovich also said that transactions with Chinese investors for H2 Christie’s International Real Estate were significantly up, attributing the rise to high net-worth individuals seeking a financial safe haven.

“China isn’t doing that well economically so I assume they need to do something with their money,” Butkovich said.

European, Australian and US investors

Butkovich said enquiries and transactions out of Australia and Europe were down from pre-COVID levels.

Australians were the first major foreign demographic to invest in Niseko, and Butkovich said they appeared to now be exploring the next markets that are on the rise.

“The Australian market has quieted down in Niseko but it’s still fairly active in places like Furano,” Butkovich said.

US visitor numbers appeared to rise significantly again this year, with agents noting increased enquiry but not a significant increase in transactions.

Interest Spills Outside of Hirafu

Butkovich said many buyers were starting their search outside Hirafu this season.

“In years past we would see a lot of enquiry focussed on Hirafu and then we would have had to convince people to go outside their zone,” Butkovich said.

“Now we are seeing people actually starting their inquiry outside of Hirafu and we have to convince them that there is some good value in Hirafu and they should be looking there too.”

Images:
H2 Christie’s International Real Estate, Niseko Real Estate, Mike Reece

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