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A Rising Star in Japan’s Real Estate Market
Nestled in the heart of the Japanese Alps in Nagano Prefecture, Hakuba is traditionally known for its world-class ski resorts and stunning mountain views.
But in recent years, this sleepy resort town has caught the attention of international investors looking for the next big opportunity in Japanese real estate. With land prices skyrocketing, luxury developments underway, and growing tourist traffic year-round, Hakuba is quickly emerging as a top-tier destination for foreign buyers.
【Comparing Hakuba and Niseko】Which Resort Should You Visit?
Hakuba’s Land Boom: The Data Behind the Hype
In 2024, Hakuba recorded a remarkable 30.2% increase in commercial land value, placing it among the top five areas nationwide in land price growth.
This surge is largely attributed to an influx of foreign demand and a booming tourism economy. Investors from Australia, the United States, Taiwan, and Singapore are increasingly buying property in Hakuba as a way to tap into Japan’s luxury ski and nature tourism.
Hakuba Real Estate and Property Management
Why International Investors Are Choosing Hakuba
1. Explosive Growth in Tourism
In 2024 alone, over 2.7 million visitors came to Hakuba — surpassing pre-pandemic numbers.
This rebound is a direct result of Japan’s relaxed border restrictions and renewed global interest in winter sports and mountain tourism.
The growth of off-season activities such as mountain biking, hiking, and wellness retreats is helping establish Hakuba as a four-season destination.
2. New Luxury Developments
Luxury hotel brands and foreign developers are actively entering the Hakuba market. A notable example is the opening of La Vigne Hakuba in December 2024 — a boutique hotel-condominium that achieved over 90% occupancy in its first quarter.
Singapore-based Banyan Tree Group has also announced plans to launch a luxury alpine resort in the village, which will mark its debut in the Japanese Alps.
3. Lower Entry Cost Compared to Niseko
Hakuba offers a more affordable alternative to Niseko, Japan’s most famous ski resort town.
While Niseko’s land and property prices have reached premium levels, Hakuba remains relatively accessible, especially for first-time investors seeking long-term gains from capital appreciation and rental income.
4. Accessibility and Infrastructure
Hakuba is only three hours from Tokyo via bullet train and express bus, making it an ideal weekend or seasonal destination for both domestic and international travelers.
Local infrastructure has also improved significantly, with more multilingual signage, tourism services, and high-speed internet — all of which appeal to global nomads and investors alike.
What Types of Properties Are in Demand?
The most popular investment options in Hakuba include:
- Hotel-style condominiums with managed services
- Luxury chalets or vacation homes for short-term rentals
- Commercial properties near ski resorts or transit hubs
- Undeveloped land plots in strategic locations
Echoland, Happo-One, and Wadano are currently among the most desirable areas due to their proximity to ski lifts, restaurants, and nightlife.
Risks and Considerations
Despite its appeal, investing in Hakuba comes with certain risks that investors should consider:
- Japan’s zoning and building laws can be complex, particularly for non-residents. Consulting a local real estate attorney is essential.
- Rapid development has triggered concerns among locals about rising costs, over-tourism, and environmental impact.
- The tourism market in Hakuba is still highly seasonal, with most revenue generated during winter months. However, summer tourism is growing steadily thanks to outdoor and wellness tourism.
How to Invest in Hakuba Real Estate as a Foreigner
The process of buying property in Japan is relatively straightforward for foreigners, with no major legal restrictions. Here are a few steps to guide your investment journey:
- Work with a bilingual real estate agency that specializes in international clients.
- Hire a Japanese legal representative to help with paperwork and taxes.
- Consider hiring a property management firm, especially if you plan to rent the property while living abroad.
- Research neighborhood zoning and usage laws before purchasing land or commercial property.
- Understand the tax implications, including acquisition tax, annual property tax, and potential rental income tax.
Is Hakuba a Smart Investment in 2025?
For global investors seeking a fresh opportunity in Asia, Hakuba represents one of the most exciting emerging real estate markets. Rising tourism, international brand presence, affordable pricing compared to other resort towns, and strong government support for regional development make it a highly attractive destination.
Whether you’re looking for a vacation home, a passive income source through rentals, or long-term capital appreciation, Hakuba offers the right mix of lifestyle and investment potential. As Japan’s alpine tourism continues to expand beyond Niseko, the time to invest in Hakuba may be now.
We own several fantastic properties in Hakuba Village.
Click on the image below to view property details.
