sydneybound 0 Posted January 8, 2007 Share Posted January 8, 2007 i'm looking at buying a plot of land for my family and building a ski chalet. i'm not interested in niseko (too crowded and expensive), but i've had a buddy who went to rusutsu for the day (he was boarding at niseko) and was impressed with it. anyone have any comments before i haul myself there to look around? is it pretty developed? have land prices appreciated a lot in the past 2-3 years? am i too late and should look elsewhere for something, and if so, where would you suggest? thanks Link to post Share on other sites
brit-gob 9 Posted January 8, 2007 Share Posted January 8, 2007 My comment would be to actually visit a place - and other places to compare with - and not just go on a second-hand 1-day trip report from a friend before even considering something as big as a property purchase. Surely if you are considering buying property in a foreign country you would at least want to visit a place first before taking it much further than a thought? Link to post Share on other sites
sydneybound 0 Posted January 8, 2007 Author Share Posted January 8, 2007 i was intending on visiting before buying, but if i found out through this site that, for example, rusutsu is closed to foreign ownership, then i would know not to bother visiting. ie. the phrase from above: 'anyone have any comments before i haul myself there to look around?' anyone else have any comments? thanks Link to post Share on other sites
Digger 0 Posted January 8, 2007 Share Posted January 8, 2007 There is no 'village' in the way that Hirafu has. There is nothing there apart from the resort and a couple of characterless pensions dotted along the highway. If your number one priority is somewhere close to a decent ski area you might be ok, but if you are looking for a bit of character and something to do in the evenings I think you'll be disappointed. I'm also not sure how easily you'd find a suitable plot of land there. Link to post Share on other sites
gerard 6 Posted January 8, 2007 Share Posted January 8, 2007 Last time I was in Niseko I picked up a bunch of pamphlets. It seems like you can get all the help you need in English to go through the process of buying real estate. I'm guessing that would be a lot harder for the Rusutsu area BUT realtors in Kutchan/ Niseko might be also service the Rusutsu area since they're really close. That might be the best place to start. Prices in the Niseko area have really risen in the last few years, so much so that it's been featured in the News recently... but I'm guessing things will continue to rise in the whole area. It would be really hard to manage property from afar though, and even if land prices rise, buildings tend to depreciate quickly. Link to post Share on other sites
likesDaPow 0 Posted January 8, 2007 Share Posted January 8, 2007 I know that buying land in Japan is a real hassel for outsiders. I know that no American bank will lown you money for land in Japan, and no Japanese bank will loan money to a non japanese citizen. If your paying cash it might be another story, but I would do some research before you take the trip. My friend (american) is married to a Japanese girl, and no bank would loan ether one of them money US or Japan to buy in japan. Sounds strange because she is japanese. Might be different for Aussies though Link to post Share on other sites
Fattwins 0 Posted January 8, 2007 Share Posted January 8, 2007 A japanese bank will lend money to non japanese if you qualify, I got money. Next Hirafu is a micro bubble, thats why it made the news. the land price went up there, yet 5 to 15 minutes down the road it didnt. I think that you need to really look at more than one area and the costs involved really. Link to post Share on other sites
gerard 6 Posted January 8, 2007 Share Posted January 8, 2007 Some foreigners I know brag about getting CHEAP loans with Japanese banks to buy LUCRATIVE real estate in places like Hawaii -- as if it's really easy. Meanwhile, this one guy's Dad is a real estate agent in the US, and his Japanese wife's families are rich landowners here... so somehow I think that has something to do with it. Basically, if you have a weathly guarantor to co-sign for the loan, you can borrow money in Japan at really low rates. Hey--maybe Fattwins knows about that stuff. Doesn't he have a place in here? (Oh! There's FT up there ) Link to post Share on other sites
thursday 1 Posted January 9, 2007 Share Posted January 9, 2007 I'm no expert on land stuff outside of HK. Here's my take on Rusutsu. Rusutsu is a huge hotel/conference complex which does skiing very well in Winter and golfing very well in Summer. It is a three mountain resort which is owned by the complex. The only useful thing you can do with buying land around there is to farm potatoes. The sking potatoe is the mascot there. There is no village, no night life, no anything touristy outside of the resort. Now, if you're willing to start a Hirafu there, then that would be good. Good luck. Link to post Share on other sites
NoFakie 45 Posted January 9, 2007 Share Posted January 9, 2007 Fatty's right. Japanese banks will lend to non-Japanese now. You might be struggling to get a loan on an old property, but they wouldn't lend to Japanese for the same thing. >have land prices appreciated a lot in the past 2-3 years? In Rusutsu, probably not, but I bet the chances of someone telling you prices have gone up or will go up like Niseko are now far higher. Get in now or regret it, etc., etc. Nowhere is closed to foreign ownership as far as I know. Link to post Share on other sites
sydneybound 0 Posted January 9, 2007 Author Share Posted January 9, 2007 thanks to all. japanese banks will lend to foreigners, it all depends who (ie. one of the biggest money makers in the past few years has been the 'yen carry trade', which is borrw yen at 2% and invest in another country with higher interest rates (ie. 5%). also, you don't necessarily have to borrow from japanese banks, most of the local banks in developed countries that will lend out yen (they just turn around and borrow from some japanese counterparty at a more favorable rate than they lend to you). anyway, i'm not worried about loans, i'm doing this as a cash deal. from research, i've seen the amusement park complex, but didn't know about the golf. but this puts a positive spin as there could be activities throughout the year to occupy my time. i have a japanese/aussie lawyer here in sydney, so he'll take care of the details once i get to that step. i'll have to go visit. i'm not interested in a local company who 'helps' me out with the process. they would be charging fees that i'm not willing to pay. Link to post Share on other sites
fjef 0 Posted January 9, 2007 Share Posted January 9, 2007 Quote: Originally posted by sydneybound: thanks to all. i have a japanese/aussie lawyer here in sydney, so he'll take care of the details once i get to that step. i'll have to go visit. i'm not interested in a local company who 'helps' me out with the process. they would be charging fees that i'm not willing to pay. hmmmm -you would be wiling to pay lawyer's fees but not pay for local assistance? This will not earn you a red carpet into a Japanese community where personal relationships are most important. In a very non-legalistic country, I would say that this is exactly the wrong way to enter a Japanese community. Local introductions to builders, suppliers and the community as a whole will provide far more benefits than having an offshore lawyer involved - doing it your way will be sending all the wrong messages. Link to post Share on other sites
Yuki's Passion 1 Posted January 9, 2007 Share Posted January 9, 2007 >>i'm looking at buying a plot of land for my family and building a ski chalet. i'm not interested in niseko (too crowded and expensive) you dont think there's spinoff from Niseko to Rusutsu now? Link to post Share on other sites
Fattwins 0 Posted January 9, 2007 Share Posted January 9, 2007 The japanese rates are fixed actually at 3% thats the max that they can charge you your lawyer will be more expensive. I dont think buying in rusutsu is a good idea really there are far better areas within japan that offer more to do at other times. Anyone can buy in Japan but you are still not allowed to live here unless you get a visa. youll be doing the tourist in and out thing. Link to post Share on other sites
sydneybound 0 Posted January 9, 2007 Author Share Posted January 9, 2007 creekboy: not yet, i don't think high prices have leaked over to rusutsu yet, but that's part of the reason why i need to go visit. ok, here's another question: if you had to pick an underrated snow hill in japan, which one would it be? underrated, i refer to a hill that nobody (general public) has discovered yet, but you can see it happening sooner or later. Link to post Share on other sites
Yuki's Passion 1 Posted January 9, 2007 Share Posted January 9, 2007 prices might not be there yet but the crowds have been picking up there... >if you had to pick an underrated snow hill in japan, which one would it be? underrated, i refer to a hill that nobody (general public) has discovered yet, but you can see it happening sooner or later. mate, I could tell you, but Id have to kill you Link to post Share on other sites
thursday 1 Posted January 9, 2007 Share Posted January 9, 2007 Asahidake Link to post Share on other sites
Fattwins 0 Posted January 9, 2007 Share Posted January 9, 2007 Rusutsu has been discovered. It gets less snow than niseko and is actually not all that big. If you are looking for a vacation home think about what you want. Easy travel stuff to do in the summer hiking, biking, swimming sightseeing. rusutsu is a farming town really thats it. For an investment I dont think that youll see things go up like niseko period there try furano, hakuba thats the next speculation really. Link to post Share on other sites
thursday 1 Posted January 9, 2007 Share Posted January 9, 2007 Furano is being pushed hard by the Niseko property developers. That's the next Australian Hirafu. Link to post Share on other sites
Fattwins 0 Posted January 9, 2007 Share Posted January 9, 2007 Furano doesnt get the snow though that and patrol will be their down fall. they ship people over to other areas to ski OB. Link to post Share on other sites
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