Niseko Land: The Small-Plot Premium and the Large-Parcel Bet
Small land parcels ranged from a median sold-listing value of ¥18.88m in Niseko Town to ¥60m in Hirafu. Larger land tells a very different story.
Land is where broad Niseko comparisons become most misleading. A compact site intended for one house and a multi-hectare parcel with development optionality are both labelled land, but their absolute prices, prices per sqm, buyer pools and sales timelines are fundamentally different.
The Uchi report solves part of this problem by separating land up to and including 1,000 sqm from land over 1,000 sqm. The two cohorts should be analysed independently, and neither should be added to the all-land row because the cohorts are analytical views of the same broader property type rather than new inventory totals.
