Skye Niseko is the first privately owned condominium-hotel located within the breathtaking Hokkaido National Park in Japan. The development’s unique location, elevated above the village of Hirafu, forms the very foundation of the exclusive Skye Niseko experience and provides skiers with direct ski-in/ski-out access to all major lift systems in scenic Grand Hirafu.

Construction is set to commence in April and is expected to be completed by August 2018.

Skye Niseko will contain four penthouses, 92 units, and commercial space. The residential offerings range from studios up to five-bedroom apartments and all bedrooms in the development having ensuites.

The project is aimed at foreign investors, said Lucas Fuller from Summit Properties, the developer. "Most people that buy in Niseko are from Australia, Hong Kong, Malaysia, Singapore, and now more from Thailand and Taiwan," said Fuller. "The snow is really amazing, and foreigners buy here because of the quality of the snow and proximity to their home cities in Asia. We're also getting a lot of interest from Americans now. The Aussies sort of kicked off Niseko."

Japan allows foreigners to own full freehold real estate in their own name or through a company, and there are no restrictions such as visa requirements.

Fuller said Summit Properties bought the site when it contained an old hotel, which has been demolished. "The site has unique zoning within a national park, and it's taken five years to get development approval," said Fuller. "The concept of a condo hotel is new in Japan."

Asked why foreigners would be attracted to investing in Niseko, Fuller said it is the premium ski location in Japan and Asia and always will be. "A lot of people are recognising the uniqueness of the site, where they have night skiing until 9pm within metres of the hotel," he said. "It's the best location in Niseko, it's actually on the snow and you can ski in and out. Plus the opportunity for capital gain is pretty good given the weakness of the Yen, and there's a net yield of up to 5 per cent."

As a luxury development, Skye Niseko will set a new standard for Niseko. "It has a ski valet, on-site ski rental, Japanese onsen with volcanic hot spring water, a wellness centre, a restaurant/bar and retail," said Fuller. All the bathrooms will be granite or marble and there's aged French oak floorboards with hydronic heating underneath."

"Skye will set a new standard in town," said Fuller.

Skye Niseko studios will be priced from $580,000 AUD and penthouses will be around $8 million AUD. 

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