Niseko Japan to be the ‘Aspen of the East’
Pacific Century Premium Developments, owned by Richard Li, is investing US$1.2 billion into two hotels and a resort with three thousand luxury condominiums in Niseko’s Hanazono area.
Francis Yeoh, the founder of Malaysian construction company YTL, has spent $10 million renovating the Green Leaf Hotel in Niseko. He has also bought land, at a cost of US$66 million, for a residential project named Hinode Hill, which includes penthouses with private, traditional Japanese baths.
“We aim to establish Niseko village as the ‘Aspen of the East,’ commented Yeoh.
The small village of Niseko, whose population is just 4,600, is located on the northern island of Hokkaido, Japan. The ski resort benefits from an average snow fall of eleven feet during the month of February, second only to Mount Baker in Washington, USA.
Australian tourists seeking snow have largely shaped the area over the last decade as Australia has a similar time zone to Japan meaning there is little jet lag. With the arrival of the Aussies came Irish themed pubs, Tex-Mex eateries and pizza joints.
However, recently wealthy visitors from mainland China, Hong Kong and Singapore have started taking to the slopes and it seems that the pubs and fast food outlets could be replaced with five star restaurants and designer boutiques, as happened in Aspen, Colorado.
“Aspen grew organically…not because there is a collection of world class shopping and dining, that came later,” said Jeff Hanle, a spokesman at Aspen Skiing Company.
“I don’t know that it is possible to recreate,” he added.
Still, Francis Yeoh thinks it is. He is planning to include shopping streets with luxury businesses such as Moet, Hennessy and Louis Vuitton.
“We’re working on serving the affluent through retail, residential, and restaurants,” commented James McBride president of YTL’s hotel division.
The next surge in visitors to Niseko is likely to come from mainland China after Japan eased visa restrictions for Chinese tourists last year. China Eastern Air along with Air China have also added direct flights from Shanghai and Beijing to Sappro’s Chitose Airport which is about ninety minutes’ drive from Niseko.
The local government has also responded hiring Wenxuan Han, a 33 year old from Dalian in China who studied at Hokkaido’s Otaru University of Commerce, to handle translation work and promote tourism.
“Chinese are keen to learn about Japan, and especially Niseko,” she said.
“There really is no place like it in the region where you can enjoy wild landscape all year round.”
Article source: http://blog.oceanvillasgroup.com/niseko-japan-to-be-the-aspen-of-the-east/
Ocean Villas Group - http://www.oceanvillasgroup.com
Rebecca Smith is a real estate journalist with more than 15 years experience. She is currently the sales director for Ocean Villas Group (http://www.oceanvillasgroup.com) who specialise in luxury ocean view property investments worldwide.
For more Investment news... http://blog.oceanvillasgroup.com
6 Battery Road,
This release was published on openPR.
Permanent link to this press release:
You can edit or delete your press release Niseko Japan to be the ‘Aspen of the East’ here
News-ID: 166951 • Views: 2198
More Releases from Ocean Villas Group Pte. Ltd.
Vera Wang bags Steve Hermann property in Beverley Hills, Los Angeles
Celebrity New York fashion designer Vera Wang has splashed out US$9.2 million on a Steve Hermann designed property in Coldwater Canyon, Beverley Hills, Los Angeles. Hermann bought the 408m2 house in June 2008 for US$5 million. He spent the next two years completely redesigning and renovating the 1967 built property at a cost of US$3 million. Two new bedrooms were added. The ceilings were raised to a height of 3.6 metres. The
Asia Pacific worlds cheapest for building property
The Annual Construction Cost Comparison Report by EC Harris Research has revealed that countries throughout the Asia Pacific region have significantly lower building costs than their counterparts in The West, despite experiencing substantial economic growth. Now in its seventh year, the report compares building costs per square metre in fifty six countries worldwide against construction costs in the South of England. India and Sri Lanka have the lowest construction costs in the
Jade Jagger puts Spanish property up for sale
Spain: The daughter of Rolling Stones frontman Mick Jagger, Jade Jagger, has put her Spanish property up for sale. The seventeenth century farmhouse is located on the North West Coast of the Balearic Island of Ibiza near the village of Sant Joan de Labritja. Dubbed by Jagger as her own “private paradise”, the Spanish property sits on top of a mountain overlooking the Mediterranean Sea. And from its secluded location it’s hard to
Spain cuts new property tax in half to lift Spanish real estate industry
Madrid, Spain: The Spanish Government has cut value added tax on new property in Spain by 50 per cent with immediate effect. The reduction in VAT (Spanish - IVA) from eight per cent four per cent on new build Spanish properties came into force on August 19th and will continue until the end of the year. Announcing the decision Jose Blanco, Minister of Development for Spain, said he hoped the new measures