The 2024 Niseko Tourism and Property Market Update by C9 Hotelworks provides a comprehensive analysis of tourism recovery and evolving real estate trends in Niseko. Key highlights include:
- Tourism Recovery: Visitor numbers rebounded by 12% year-on-year to 2.9 million in 2024, fueled by expanded flight routes from Southeast Asia and increasing interest in Niseko as a year-round destination.
- Real Estate Trends: Rising construction costs and material shortages have shifted developer focus towards land plots and custom homes, with land values in areas like Hanazono surging by nearly 20%.
- Development Pipeline: 22 projects underway will add 2,284 keys/units by 2029, including major openings such as Nikko Style Niseko Hanazono and Hotel 101 Niseko. However, some projects face delays due to cost pressures.
- Market Growth: Niseko’s real estate market reached a value of USD 2.3 billion in 2024, dominated by condominiums (78%) and high demand for ultra-luxury villas, especially among affluent Asian buyers.
This report highlights Niseko’s resilience as a luxury tourism and property market, balancing rapid development with strategic responses to economic challenges.
Click here to download the report.
