Niseko Property Market 2025/26: Growth Beyond Hirafu

Niseko recorded 3.2 million visitor arrivals in FY2024/25, up 10% year-on-year, according to C9 Hotelworks’ latest market review.

Is Niseko’s property market expanding beyond Hirafu?

Yes. Hanazono’s share of Niseko’s residential inventory increased from 22% in 2020 to 31% in 2025, while Hanazono and Niseko Village continue to attract major international brands and long-term investment.

C9 expects approximately 1,087 new hotel rooms and residences across nine projects by 2029.

What is the biggest challenge for Niseko’s property market?

Seasonality remains Niseko’s central challenge. Peak winter rates can be two to five times higher than off-season rates.

The takeaway? Niseko is becoming a larger, more diverse resort market—but location, product quality and realistic rental assumptions still matter.

Read the full C9 Hotelworks Niseko Tourism & Property Market Review 2025/2026.

Disclaimer: This article summarises third-party market research for general information only. Figures and forecasts may change and should not be treated as investment, legal, tax or financial advice.