Is Furano Japan’s Next Niseko?
Japan’s alpine real estate land values have continued to rise for much of the pandemic, highlighted by the expansion of a growing Greater Niseko catchment area. We have seen developers now pushing out of the prime Hirafu area, taking a longer-term view of areas such as Hanazono and Annupuri.
There remains one clear trend in most resort areas the geography tends to change over time and as markets mature, luxury, mass-market, and niche products tend to diversify. You have to look no further than Richard Li’s Hanazono development with the Park Hyatt that now has seen considerable new products start to cluster in the area and even the upcoming Capella hotel and residences are betting big on the location.
Looking further at other alpine tourism markets in Hokkaido, C9 Hotelworks recently researched the hotel, tourism, and property market in Furano. Known as a two-season area, with summers dominated by domestic travelers lured by the spectacular lavender fields and more family-oriented winter skiers from overseas.
Recently, more developers from Niseko have started the development cycle in Furano, highlighted by the Fenix resort condominium. The area currently lacked branded hotels but we expect this to change and eventually the highly seasonal market will move upwards, driven by lower underlying land values and destination appeal.
Niseko and Furano remain distinctly different but yet, much of what appealed to overseas buyers in the 1990s remains showcased in Furano.
To download C9 Hotelworks new Furano Tourism & Property Review report CLICK