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    • Spring
      • Eating Wild in Japan

        Eating Wild in Japan

        Winifred Bird's latest book is an introduction to the world of sansai (mountain vegetables) and foraging in Japan.
        Niseko flying Hokkaido

        Bird’s Eye View of Hokkaido

        Get a bird's eye view of Hokkaido with Ben Kerr, a Niseko-based pilot.

        Northern Tohoku’s Top 5 Spring Hikes

        Chase the cherry blossoms north and enjoy five of Tohoku’s best hikes this spring.

        Spring Escapes: Outdoor Activities in Japan

        Check out these spring escapes this season and enjoy outdoor activities throughout Japan.

        Haga Farm Spring Glamping in Tochigi

        Haga Farm and Glamping in Tochigi opened in August 2020, and it has quickly become a popular escape for Tokyoites.
    • Summer
      • Washi Papermaking Kochi Shikoku Outdoor Japan

        Following the Paper Trail in Kochi

        Discover the traditional art of washi papermaking in Kochi with artist Rogier Uitenboogaart.
        Climbing Mt. Fuji Outdoor Japan

        Peaking in 2021: Climbing Mt. Fuji

        Thinking of climbing Mt. Fuji this summer? We talk to Mt. Fuji guides on best practices for scaling Japan's highest mountain.

        Japan Camping Guide

        Check out our picks all the way from Hokkaido to the Okinawa Islands and then plot your perfect Japan camping adventure.
        Japan's Digital Nomads Van Life in Japan

        Japan’s Digital Nomads

        Adventure couple Ruth Aisling and Bappa Shota explores Japan by van.
        Iriomote Yamaneko Outdoor Japan

        Iriomote’s Endangered Wildcats

        Iriomote Island, one of Japan's last untouched wild places, is home to the endangered yamaneko wildcat.
    • Autumn
      • Pow Bar Founder Megumi Scott

        Beyond the Brand: Pow Bar

        An interview with Megumi Scott, the founder of Niseko brand Pow Bar.
        Churamura Okinawa Sea Turtle Marine Conservation

        Churamura: Footprints in the Sand

        Churamura, an NPO in Okinawa, work to conserve marine life and protect endangered sea turtles in Japan's southernmost prefecture.
        Kawazu

        Fall in Love with Kawazu

        Enjoy waterfall hikes and hot springs, beautiful beaches and delicious seafood in Kawazu on the western coast of Izu Peninsula.
    • Winter
      • Early Bird 2021-22 Japan Ski

        Early Bird Ski Deals for 2021-2022

        Don't miss out on these early bird season pass and lift package deals for Japan's ski resorts.

        Pacific Solo

        Preacher-tu...
    • Near Tokyo
    • Near Kyoto
    • All Regions
    • Article Map
    • Ocean and Beach
      • Churamura Okinawa Sea Turtle Marine Conservation

        Churamura: Footprints in the Sand

        Churamura, an NPO in Okinawa, work to conserve marine life and protect endangered sea turtles in Japan's southernmost prefecture.
        Kawazu

        Fall in Love with Kawazu

        Enjoy waterfall hikes and hot springs, beautiful beaches and delicious seafood in Kawazu on the western coast of Izu Peninsula.
        Kaiyu Kochi Shikoku Outdoor Japan

        Snorkeling, Surfing and Sustainability in Koch...

        Enjoy the clear waters of Kochi by snorkeling and surfing while staying at a refurbished hotel committed to sustainability.
        Outdoor Japan Shimoda

        Blue Waves and Black Ships in Shimoda

        Shimoda may be famous for its white sandy beaches and surfing, but it also played a major role in shaping the Japan we know today.
    • River and Lake
      • Iriomote Yamaneko Outdoor Japan

        Iriomote’s Endanger...

        Iriomote Island, one of Japan's last untouched wild places, is home to the endangered yamaneko wildcat.
        Iriomote Outdoor Japan

        Iriomote Activity Guide

        A guide to Iriomote's outdoors, hiking, diving, cultural experiences and accommodation.
        Niseko flying Hokkaido

        Bird’s Eye View of Hokkai...

        Get a bird's eye view of Hokkaido with Ben Kerr, a Niseko-based pilot.

        Spring Escapes: Outdoor A...

        Check out these spring escapes this season and enjoy outdoor activities throughout Japan.
        video

        Shikoku Road Trip: Kochi ...

        Mountainous forests and coastal towns dominate most of the prefecture, where visitors will find enterprising locals and nature guides working to revitalize their communities. Shikoku’s winding roads are best explored by car.
    • Mountain and Land
    • Sky
    • Snow and Ice
      • Matagi Akita Tohoku Sustainable Living

        Tracking Akita’s Matagi Hunters

        Akita in the northern Tohoku region is home to the Matagi, hunters who follow an ancient and sustainable way of hunting, foraging and life.
        Early Bird 2021-22 Japan Ski

        Early Bird Ski Deals for 2021-2022

        Don't miss out on these early bird season pass and lift package deals for Japan's ski resorts.
    • Travel
      • Churamura Okinawa Sea Turtle Marine Conservation

        Churamura: Footprints in the Sand

        Churamura, an NPO in Okinawa, work to conserve marine life and protect endangered sea turtles in Japan's southernmost prefecture.
        Kawazu

        Fall in Love with Kawazu

        Enjoy waterfall hikes and hot springs, beautiful beaches and delicious seafood in Kawazu on the western coast of Izu Peninsula.
        Matagi Akita Tohoku Sustainable Living

        Tracking Akita’s Matagi Hunters

        Akita in the northern Tohoku region is home to the Matagi, hunters who follow an ancient and sustainable way of hunting, foraging and life.
        Washi Papermaking Kochi Shikoku Outdoor Japan

        Following the Paper Trail in Kochi

        Discover the traditional art of washi papermaking in Kochi with artist Rogier Uitenboogaart.
        Kaiyu Kochi Shikoku Outdoor Japan

        Snorkeling, Surfing and Sustainability in Koch...

        Enjoy the clear waters of Kochi by snorkeling and surfing while staying at a refurbished hotel committed to sustainability.
    • Food and Drinks
      • Churamura Okinawa Sea Turtle Marine Conservation

        Churamura: Footprints in the Sand

        Churamura, an NPO in Okinawa, work to conserve marine life and protect endangered sea turtles in Japan's southernmost prefecture.
        Kawazu

        Fall in Love with Kawazu

        Enjoy waterfall hikes and hot springs, beautiful beaches and delicious seafood in Kawazu on the western coast of Izu Peninsula.
        Matagi Akita Tohoku Sustainable Living

        Tracking Akita’s Matagi Hunters

        Akita in the northern Tohoku region is home to the Matagi, hunters who follow an ancient and sustainable way of hunting, foraging and life.
        Washi Papermaking Kochi Shikoku Outdoor Japan

        Following the Paper Trail in Kochi

        Discover the traditional art of washi papermaking in Kochi with artist Rogier Uitenboogaart.
        Kaiyu Kochi Shikoku Outdoor Japan

        Snorkeling, Surfing and Sustainability in Koch...

        Enjoy the clear waters of Kochi by snorkeling and surfing while staying at a refurbished hotel committed to sustainability.
    • Races and Events
      • Yuji Hirayama Urban Base Camp

        Yuji Hirayama’s Urban Base Camp Opens in Shinj...

        One of Japan's top rock climbers Yuji Hirayama has opened Urban Base Camp, a new bouldering gym in the heart of Tokyo.
        Photo by Noriteru Ino

        2021 Summer Music Festivals in Japan

        Camp and listen to great music in the outdoors at these summer music festivals across Japan.
        Summer Events Fireworks Festivals in Japan

        2021 Fireworks Festivals in Japan

        Enjoy these fireworks festivals held throughout Japan this summer and autumn.
        Summer Festivals in Japan

        2021 Summer Festivals in Japan

        Enjoy these traditional matsuri festivals throughout Japan this summer.

What Doesn’t Break You Will Make You Stronger

It’s February 2008 in Niseko, and the number of new investors rivals the amount of snow. Land prices in central Hirafu have doubled since December and quadrupled overnight in a subdivision just outside the village; real estate agents are selling land and property quicker than they can update their files. Niseko is a global buzzword.

Fast-forward to now, one catastrophic world financial crisis later and a yen 30 percent stronger against the heavily invested Australian dollar. Does this mark an end to the runaway development boom in Niseko? Well, strangely enough, no. Here on the ground, new projects are still being conceived and completed, land values are stable and local companies are positive this is nothing but a blip on the long-term plan.

Why so? The well-publicized arrival of major international figures such as Hilton, Capella Hotels and PCPD as well as finance from NAB and the Commonwealth Bank indicate there is too much investor interest in Niseko for it to do anything but succeed long term. And that’s not forgetting the original reason for Niseko’s success: an average of 15 meters “champagne” powder snow each winter season and a perfect summer climate.

There is no denying some of the financial fallout will land on Niseko; the hardest hit will be those with yen loans tied to foreign collateral and investors who now need to find 30 percent more cash to pay for their property. However, this financial crisis will give Niseko a shake-up and help mature the market beyond its infancy.

What will change? Since 2006, the investor demographic has been slowly shifting from Australia to East Asia, and this will be further accentuated in the current climate due to the strength of the yen against the Australian dollar.

There have been many inquiries from Australian investors wishing to cash in on the current exchange rates and consequently, for the savvy investor, there are going to be some fantastic bargains available in the next 12 months and another chance to buy in at 2006 prices. When the global markets settle down, Niseko will be in a good position to continue its development with a new mix of international investors.

This winter will be a challenging season for many of the local companies who are still working with financial models based on previous growth. However, provided the necessary adjustments are made quickly, as they were during the last few years’ expansion, they will continue to see good returns.

Now fast-forward to next winter. It’s another exciting snow season, but will there be new developments and investment opportunities in Niseko? It’s as guaranteed as the snow.

Michael Davenport is the Managing Director of Niseko Consulting, a company specializing in independent real estate advice and locally sourced listings. Michael has three years experience in Niseko and has lived in Japan since 2002. Web: www.NisekoConsulting.com.
 

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