Rusutsu Annual Market Report 2025 now live
Rusutsu is one of the most interesting resort property markets in Hokkaido, and one of the easiest to misunderstand.
The new Uchi Insights Rusutsu annual market report 2025 looks at how the visible market evolved across listings, sales activity, pricing and land over the past year. While Rusutsu is often discussed in the same wider conversation as Niseko, the data suggests a market with its own structure, its own rhythm and a very different balance between land, apartments and ready-to-use chalet stock.
At a headline level, Rusutsu’s visible market on Uchi grew from 50 listings in 2024 to 95 in 2025, while total listing value increased from ¥6.00bn to ¥15.92bn. At the same time, sold listings fell from 19 to 11, and sold listing value declined from ¥1.97bn to ¥679m. That points to a market where visibility and asking value expanded sharply, but completed visible sales became more selective.
A few themes stand out early. Land became increasingly central to the visible Rusutsu story, with listings rising from 17 to 43. That matters because larger development-style sites can have a major influence on averages, pulling average listing price higher while also distorting price-per-square-metre comparisons. Rusutsu is exactly the kind of market where averages and medians need to be read together.
The apartment segment also needs special care. In Rusutsu, The Vale Rusutsu has an outsized influence on visible apartment data. Outside that segment, much of the market still revolves around three more traditional products: small land for housebuilding, larger land for development or landbanking, and ready-to-use chalets. That makes Rusutsu very different from resort markets where apartment stock is broader and more established.
Location also matters. Rusutsu sits close enough to Niseko to remain part of the wider southwest Hokkaido resort conversation, but it also benefits from its position between Niseko and the Sapporo / New Chitose Airport corridor. Combined with its genuine four-season appeal, that helps explain why it continues to attract attention even as the visible market remains relatively small.
What’s inside the full report
The full report includes:
- executive summary and market positioning
- pricing analysis by property type
- sold prices and sold price per square metre
- GMV by property type
- sales velocity
- commentary on how to read a small but increasingly visible resort market
- context on the outsized role of land and The Vale Rusutsu in shaping the visible dataset
This is the public introduction to the report. The full Premium version, including a more detailed summary and the full PDF, is available here:
Read the full Rusutsu annual market report 2025
If you are not yet a subscriber, you can join Uchi Insights Premium to access the full report and the wider Premium archive.
