A Popular Destination Among Foreign Investors: Japan’s Resort Areas
Representative resort areas that captivate the world with their snow resorts include Niseko and Karuizawa, known for their rich natural beauty.
However, Japan boasts many other attractive resort areas, offering untapped real estate investment opportunities.
This article explores Japan’s most noteworthy resort destinations—including Niseko and Karuizawa—and details why Japanese resort real estate is highly recommended for investors.

​

Japan’s Snow Resorts Gaining Worldwide Attention

In recent years, Japan’s snow has captured the interest of international tourists. Japanese powder snow, also known as “JAPOW,” is renowned for its top-tier quality and fluffy texture, attracting skiers from all over the world. Additionally, snow resorts have gained popularity thanks to advanced ski facilities, warm hospitality, and ease of access. Among them, Niseko, Hakuba, and Myoko have drawn significant attention not only from tourists but also from investors.

If you are a foreign national considering purchasing or

investing in real estate in Japanese resort areas,
please contact wagaya Japan.

Niseko: Powder Snow That Charms the World

Niseko in Hokkaido is highly popular among the wealthy from around the world. Known for its world-class powder snow, diverse courses, and majestic scenery, Niseko not only attracts tourists but also sees active foreign investment. The increase in international tourists has led to the development of multilingual environments and accommodations, adding to its appeal. Foreign luxury hotels and high-quality condominiums continue to open, making it a successful high-end resort area targeted at affluent clientele.

Hakuba: Enjoy Mountaineering and Trekking

Hakuba Village in Nagano Prefecture is referred to as the “second Niseko” due to the surge in foreign tourists and rapidly rising real estate prices. It enjoys strong popularity during the snow season for its high-quality snow and distinctive ski slopes, while also attracting visitors in the off-season thanks to activities like hiking and trekking.

​

Since the Nagano Winter Olympics, Hakuba has developed into a globally recognized resort area, and in recent years, hotels and condominiums for the wealthy have been increasingly constructed.
Despite catering to affluent clientele, the availability of properties ranging from relatively affordable to luxury is another reason for its popularity among investors.

​

Myoko: Renowned for Its Hot Springs

​

Myoko in Niigata is one of Japan’s largest and most popular snow resort areas, known for its high-quality snow. Besides its snow resorts, it is famous as the Myoko Onsen Village, comprising seven hot spring areas including Akakura, Myoko, and Suginosawa. Foreign investment is also active; in 2023, a Singaporean investor acquired a ski resort, initiating a luxury resort development project estimated at around 200 billion yen.

Resort Areas Outside of Snow Resorts Popular Among Investors

With nature that changes beautifully with the seasons, Japan offers many appealing resort destinations beyond just snow resorts. Here, we introduce Karuizawa, Okinawa, and Kyoto—resort areas that are particularly popular among foreign investors.

Karuizawa: Enjoying the Beauty of All Four Seasons

Famous as a summer retreat, Karuizawa in Nagano Prefecture is a highly sought-after area both domestically and internationally as a tourist and vacation home destination. Its appeal lies not only in its cool summer climate but also in the changing natural beauty of spring’s greenery, autumn foliage, and winter snow, which can be enjoyed year-round.

The area also offers excellent access from central Tokyo, as well as abundant nature, history, culture, and leisure facilities.
Moreover, the long-standing value of the “Karuizawa brand” contributes to maintaining property value, making it a popular choice for investors.

​

Okinawa: Enjoy Beautiful Beaches and Nature

Okinawa, a tropical paradise with beautiful seas and lush nature, is one of Japan’s most iconic tourist destinations.

In addition to tourism, demand for vacation homes and relocations is strong, with rising land prices boosting its appeal for real estate investment.
Onna Village and Miyako Island, in particular, are popular resort areas among foreign investors.
Recently, construction of foreign luxury hotels, resort developments, and large-scale leisure facilities has accelerated, and demand for tourism, relocation, and real estate investment is expected to continue growing.

​

Kyoto: Rich in Culture and History

Kyoto, with its traditional townscape and stunning scenery, is a favorite among international tourists. According to the Kyoto City Tourism Association, the number of overnight stays by foreign visitors reached 653,000 in October 2024—a 30.4% increase from the same month in the previous year and a 27.7% increase compared to 2019 (pre-COVID). Foreigners accounted for 65.8% of all overnight stays, the highest since 2014, underscoring Kyoto’s strong popularity among international tourists.

This inbound demand has helped drive Kyoto’s land prices upward for four consecutive years, with a stable outlook as long as tourism remains strong.
Although Kyoto is one of the most popular areas in Japan, real estate prices remain lower than in other major cities like Paris or London, adding to its appeal for foreign investors.

​

Why Is There Opportunity in Japanese Resort Real Estate Investment?

There are three key reasons why Japanese resort real estate presents great investment opportunities:

 The weak yen makes it easy to invest

 The Japanese government actively supports foreign real estate investment, including through tax incentives

 Stable returns can be expected due to the large annual influx of tourists

At wagaya Japan, our agents—experts in Japanese real estate—
will support you in finding your ideal property.

The Weak Yen Makes It Easy to Invest

With the yen currently on a downward trend, Japanese real estate can be purchased at relatively low prices. Even in Tokyo, property prices are generally lower compared to those in other developed countries. Meanwhile, rental yields tend to be higher because rental rates are relatively high compared to other Asian countries.

Government Support and Tax Incentives for Foreign Real Estate Investors

Japan does not impose restrictions or additional taxes on real estate purchases by foreign investors. Foreigners can buy property under nearly the same conditions as Japanese nationals, making Japan a foreigner-friendly country for property investment. Furthermore, foreign investors may benefit from special tax treatments. For example, under the “foreign tax credit” system, non-residents who sell real estate may be eligible to deduct certain amounts from their capital gains tax to avoid international double taxation.

This lack of purchasing restrictions, combined with supportive tax policies, makes Japan an attractive destination for foreign real estate investors.

​

Stable Returns from High Tourist Numbers

According to Japan’s Tourism Agency, the number of foreign visitors to Japan reached 36.87 million in 2024, surpassing the pre-COVID peak of 31.88 million in 2019. The 2025 Osaka/Kansai Expo is also expected to drive further growth in inbound tourism. With its four-season nature, rich culinary culture, advanced technology, and safety, Japan continues to be a top destination for international tourists. Tourism demand is expected to remain strong, providing a stable foundation for real estate investment returns. This increase in inbound demand is likely to push land prices higher and offer more stable rental income—major benefits for real estate investors.

Conclusion

Investing in Japan’s resort areas allows you to not only earn rental income but also enjoy the properties during peak seasons. Resort destinations like Niseko, Karuizawa, and Hakuba are attractive both for travel and for investment. Moreover, Japan imposes no restrictions on foreign property ownership, and relatively high rental yields can be expected. Whether for personal enjoyment or investment purposes, owning a property in one of Japan’s resort areas may be an excellent choice.

Even foreign nationals can buy with peace of mind,
as wagaya Japan provides careful support

from property selection to contract procedures.