Exploring an Investment Opportunity in Hakuba（白馬）: A Ski Resort Guesthouse
Hakuba Real Estate Price Trends: 2024 Update
Significant Land Price Surge
In recent years, property prices in Hakuba Village have shown a significant upward trend.
In 2024, the average official land price was ¥15,183 per square meter, equivalent to ¥50,192 per tsubo, marking a 17.11% increase from the previous year.
Additionally, the average standard land price was ¥19,170 per square meter, or ¥63,371 per tsubo, reflecting an 8.67% rise year-over-year.
Transaction prices have also surged, with the average price per tsubo in 2023 reaching ¥129,870, up from ¥76,767 in the previous year.
Furthermore, the average total transaction amount in 2024 was ¥66 million, representing a 198.02% increase compared to the previous year.
These figures indicate a vibrant real estate market in Hakuba Village, making it an area of interest for investors and prospective buyers.
Major Land Transaction
A significant development has recently occurred:
- Japan Ski Resort Development, a subsidiary of Nippon Parking Development, has sold approximately 2 hectares (19,109 square meters) of land at the base of HAKUBA VALLEY Hakuba Iwatake Mountain Resort.
- The land was sold to Mitsubishi Estate and Shimizu Corporation for 1.5 billion yen (book value: 240 million yen).
- The site will be cleared after demolishing existing facilities and handed over in March 2026 for the development of accommodation facilities.
Long-Term Upward Trend：
This rapid increase is part of a longer-term trend:
- In 2021, the average sales price for land transactions in Hakuba was 10,847 yen per square meter, a 6.97% increase year-over-year and a 20.65% increase since 2019.
- The area around the Olympic Happo One Resort has seen annual appreciation of 12-13% during the pandemic years.
Key Factors Driving Growth：
・Inbound Demand Recovery: An increase in foreign tourists is anticipated.
・Year-round Appeal: Hakuba has successfully transformed into a year-round tourist destination, attracting visitors even during summer months.
・Luxury Developments: Plans for high-end hotels and resorts, including a partnership with Singapore’s luxury hotel brand Banyan Tree, scheduled to open after 2026,
are driving up property values.
・Investment Demand: Both domestic and foreign investors are showing increased interest in Hakuba’s real estate.
Future Outlook
Experts predict that land prices in Hakuba will continue to rise, driven by several factors:
- Ongoing Development: Projects like the recent 1.5 billion yen land sale for accommodation facilities at HAKUBA VALLEY Hakuba Iwatake Mountain Resort indicate continued investment interest.
2. International Appeal: As Japan reopens to international tourism, Hakuba’s popularity as a year-round destination is expected to grow further.
3. Comparative Value: When compared to Niseko in Hokkaido, Hakuba’s real estate prices are still considered relatively affordable, suggesting significant potential for future growth
4. Investment Potential: The substantial price gap between Hakuba and Niseko indicates that Hakuba has much more room for appreciation, making it an attractive option for investors looking for long-term growth opportunities.
5. Infrastructure Improvements: Ongoing investments in facilities and amenities, such as the planned renovation of the gondola lift and ski center at Iwatake Resort, are likely to enhance Hakuba’s appeal further.
While the growth trajectory appears strong, stakeholders are mindful of the need for sustainable development to avoid the overtourism issues faced by some other resort areas in Japan.
New Listing in Hakuba
1. Introduction: The Appeal of Hakuba and Investment Opportunities
Hakuba, nestled in the Japanese Alps of Nagano Prefecture, has become a prime destination for winter sports enthusiasts worldwide.
Known for its impressive snowfall, world-class ski resorts, and stunning natural surroundings,
Hakuba exudes a unique charm that has caught the attention of both domestic and international investors.
As demand for lodging rises, Hakuba presents substantial potential for those interested in hospitality and tourism investments.
At Yamamoto Property Advisory, we are proud to officially represent this distinctive investment property,
offering our clients an exclusive opportunity to enter Hakuba’s thriving tourism market.
With our team’s expertise and local insights, we aim to provide comprehensive support for those considering this guesthouse as a viable and profitable investment.
2. Property Overview: Details of the Ski Resort Guesthouse
This distinctive guesthouse enjoys a prime location near the popular Escal Plaza ski resort, only a short walk from the slopes. Its proximity makes it ideal as a winter retreat,
whether as a family lodge or ski chalet.
Location:
Hakuba-mura, Kamishiro, Kitaazumi-gun, Nagano Prefecture
Located very close to the Escal Plaza ski resort (walking distance)
Size: Approximately 873 tsubo (2,887 m²) of land with a building area of 560.58 m²
Price: ¥130 million JPY （About US$870,000)
Layout: A spacious 12-room configuration suited for group accommodations
Year Built: 1985, with consistent maintenance from the current owner
Understanding the “Pension” Style:
A Japanese Approach to Guesthouses In Japan, “pensions” refer to guesthouses styled similarly to European bed-and-breakfasts.
Often, they provide a warm and intimate experience preferred by many travelers. In budget-friendly inns like this property, shared bathrooms and toilets are standard.
Inn License and Transferability
A key asset of this property is its existing inn license, allowing for immediate operation as a licensed inn.
The license is potentially transferable to the new owner, though arrangements would need to be made with local authorities.
Navigating the transfer process and legal requirements is essential, and our team can offer guidance on these matters.
Key Investment Aspects:
Renovation and Profit Potential Due to the property’s age, renovations such as adding private bathrooms or aesthetic upgrades could enhance its appeal to guests.
High demand during ski season offers promising rental income potential, making this an attractive option for those seeking to capitalize on Hakuba’s rising popularity.
This property serves as an affordable entry point into the Hakuba market with potential for long-term appreciation.
Nearby Area and Accessibility:
Convenience and Attractions Hakuba’s location offers convenient access to major ski resorts and year-round outdoor activities.
Guests benefit from proximity to skiing in winter and options for hiking, mountain biking, and other pursuits in the warmer months.
Transportation:
3 minutes by car to Kamishiro Station (Oito Line)
70 minutes by car to Nagano IC on the Joshinetsu Expressway
Operating a Guesthouse:
Management and Hospitality Considerations Running a guesthouse in a popular tourist destination like Hakuba can be rewarding but comes with unique challenges.
For international investors, a local management company may be essential to handle daily operations, including bookings and maintenance.
Advantages and Risks of Investing in Hakuba’s Hospitality Sector Hakuba’s consistent tourism growth, especially among international visitors,
makes it an attractive area for property investment. However, seasonal fluctuations mean that peak revenue is concentrated in winter,
necessitating off-season strategies like targeting summer tourists.
Conclusion:
The Value of Investing in Hakuba
This guesthouse presents a unique opportunity for investors looking to establish a foothold in Hakuba’s tourism industry. With a prime location, existing inn license,
and potential for revenue generation, it offers a solid entry point for those interested in hospitality investment.
Ready to Explore This Opportunity?
If this investment aligns with your goals, or if you have questions about real estate investments in Japan, Yamamoto Property Advisory is here to assist.
We specialize in guiding international investors through Japan’s real estate market.
Contact us today at yamamoto@yamamoto-property.jp to discuss further details,
or explore other exclusive listings in Hakuba.
Let us help you make the most of Japan’s growing hospitality market.
Toshihiko Yamamoto – Founder and Lead Broker, Yamamoto Property Advisory
Toshihiko Yamamoto is the founder and principal broker of Yamamoto Property Advisory,
a distinguished real estate brokerage in Tokyo that specializes in luxury residential and investment properties for an international clientele.
His firm caters to discerning investors seeking premier properties for personal use and income-generating whole buildings for investment purposes.
A licensed real estate broker in Japan, Mr. Yamamoto holds an MBA from Bond University in Australia
and a Certified Commercial Investment Member (CCIM) designation from the CCIM Institute in the United States.
His extensive international experience, having lived abroad in Australia and the United Kingdom, equips him
with a nuanced understanding of global real estate trends and the unique needs of foreign investors.
With over two decades of experience in international business, Mr. Yamamoto has successfully conducted business with clients from more than 20 countries.
As a seasoned property investor himself, he provides informed guidance to his clients as they navigate the intricacies
of the Japanese real estate market to secure optimal investments.
Discover more in his book, “The Savvy Foreign Investor’s Guide to Japanese Properties: How to Expertly Buy, Manage,
and Sell Real Estate in Japan,” available on Amazon, iBooks, and Google Play.
Connect with us through social media on Instagram, WhatsApp, and LINE for further information and expert assistance.
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