Year In Year Out
The Vale Furano takes Hokkaido’s premier ski destination closer to five-stars
| Text : Elizabeth Kerr | Photo : www.thinkstockphotos.com |
With climate change an undeniable fact of life now, Northern Japan has become one of the last bastions of natural snow and sub-zero, skifriendly temperatures. Traditional hot spots in North America and Europe are becoming just that — hot — and the Himalayas remain a little inaccessible for leisure skiing. Niseko is already on the radar as a ski destination, and with that in mind, Furano is getting in on the action.
Located 60 to 90 minutes north of Sapporo in central Hokkaido, Furano is a much larger town than its more famous cousin and as such is a much busier resort. Hokkaido is the go-to destination for winter holidaying in Asia, and is beginning to make its mark on summer travel — as well as with international vacationers. The prefecture has great food, friendly people and natural beauty that rivals any spot on the globe.
For avid downhill or cross-country skiers the excellent powder snow (on Mount Furano) is the major draw, but Hokkaido is also peppered with some of Japan’s best natural hot springs — handy for when you fall down the mountain rather than ski down it — and amenities for guests more interested in the “chalet” aspect of the sport. Summer is marked by water sports (with the Ishikari River at the centre), hiking and the fresh foods to be indulged in from the country’s breadbasket. According to preliminary statistics from the Japan National Tourist Organization, despite glitches and a troubled flag carrier, tourist arrivals to Japan are up 30 percent in 2010 so far, with many of those heading to the northernmost prefecture and Furano in particular. Soon it will have international standard accommodations too.
“If you’ve spent any time in Japan, [you’ll know] domestic accommodations aren’t that great for international guests. Maybe for a short novelty stay but not so good for a longer stay,” says Simon Robinson, president of Hokkaido Tracks Resort Properties.
In that light comes The Vale Furano, a joint venture between Niseko architects Hokkaido Tracks and Niseko Alpine Development (NISADE), the first condominium-hotel development of its kind designed for dual use as destination accommodation and as an investment. The project comprises 20 stylish, well-designed boutique flats, something new to Furano. With the city’s increasing fourseason tourism industry, The Vale Furano’s potential for strong rental returns as well as capital growth is key to its appeal.
The Vale Furano is an exemplar of Eastmeets- West: understated Japanese elegance combined with European functionality in a building intended to complement its environment, not overwhelm it. With only 20 suites, The Vale Furano is a small project whose size serves a host of purposes. “It’s hard to understand when you live in Hong Kong or Singapore and the extraordinary strength of the economies. We still have a discretionary product,” Robinson explains of the vaguely selfish reasons for keeping the development modest. “As a developer we have to manage our risk. But I think the idea of boutique appeals and I think the community appreciates that we’re not building a huge structure. The location doesn’t need it; the views are spectacular.”
Units range in size from studios to two-bedrooms, with two penthouse units — complete with panoramic views, balconies and hot tubs — scheduled for completion in December 2011. Prices start at ￥25 million (approximately HK$2.5 million) and go on sale December 1st this year. Situated adjacent to the Kitanomine Gondola and within spitting distance of the town, The Vale Furano is an ideal ski-in/ski-out location. The city can be accessed by either international flights to Sapporo Chitose Airport (Cathay Pacific flies direct four times a week) or the closer domestic Asahikawa Airport.
Beauty and accessibility aside, The Vale Furano is at the front end of an investment cycle that the developers expect will reap healthy dividends. “This is a lifestyle product that actually makes money,” Robinson states bluntly. “It’s a wonderful four-season destination. It already enjoys really good tourism with no self-contained accommodation at all to speak about … The rentals are going to be in hot demand. People got to Furano, they want to be in Furano, they want ski in/ski out. And that’s what we’re offering.”
The year-round nature of the town gives investors two sure seasons of rental income potential (Hokkaido Tracks and NISADE are boasting a two-year, 5 percent return guarantee). The project is also the only one of its kind that will appeal to the slowly rising numbers of tourist arrivals from outside Asia. Occupancy projections are sitting at 150 nights per year with non-winter tourists gaining significantly on winter travellers.
NISADE has upscale experience in Hokkaido (with The Vale Niseko) as does Hokkaido Tracks (which has built upwards of 200 properties), and both fully expect to duplicate their successes in Furano. As a bonus, The Vale Furano will be offering buyers of the turnkey properties options not normally found with resort investments. “There will be a range of management agreements available. The guaranteed returns are offered on the assumption that it’s going to be going into a rental pool,” Robinson explains. “But an owner, without a doubt, can [opt for exclusivity], and we’d probably take out the guaranteed returns and offer some other compensation in consideration of that. It’s definitely more flexible than what you’d see in these branded resort environments.”
Ultimately it’s about practicality, and The Vale Furano is designed and priced for both. Without detracting from Niseko’s charms, Robinson sums up the town best by pointing out its most basic strength. “I feel Furano is far more appealing and user-friendly than Niseko. Niseko is a pretty serious ski hill. Furano is a better destination for people who enjoy the sport but aren’t going to win any Olympic medals and also want a Japanese holiday experience.” Crack out the cider. Or sake.
Property Listings and Stories via our International Network
|
