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GENERAL
Apartments can be secured with a deposit (please contact us for details) - this guarantees your choice of apartment. If your first choice has already been allocated, you have the option of joining our "’preferred apartments list"’ in case the other buyer later reverses their decision.
The property is owned and under development by Panorama Construction, an Australian company. The primary director is Jon Atherton, an experienced businessman and avid skier who regularly visits Niseko.
Frustrated by the lack of luxury accommodation in Niseko, Jon researched the market and realised there was huge potential for a new super-premium development. In 2006, Jon negotiated the purchase of a prime plot of land and planning for PANORAMA* was soon underway.
Niseko Property Ltd is a licensed Japanese entity specialising in development and marketing of Japanese alpine real estate. Conceived in conjunction with Niseko's largest inbound travel companies Ski Japan and Snowave, Niseko Property has access to invaluable networks and resources from within Japan, Australia, and key parts of Asia in the property development, project marketing, property management and commercial leasing and sales fields.
Please read the Property Management section below.
THE APARTMENTS
Of course! Your apartment can be reserved for your exclusive use at any time you wish - just let us know. We will always offer you the first opportunity for the season.
Yes, all apartments are fully furnished to an extremely high standard, and our qualified interior designers have put a lot of thought into all your ‘home away from home’ needs. This means your apartment comes ready to live in with everything from quality cutlery, crockery and cooking utensils through to premium bed linen and top-range electrical appliances such as hairdryers and flat screen TV’s. Please contact us for a fully itemised inventory.
PANORAMA* incorporates ample secured storage and equipment drying areas to suit both the winter and summer markets. As skiers ourselves, we know you need quick and easy access to your gear each morning and then again when you return from a day in the fresh powder. Please refer to the building layout diagram for more information.
Yes, on-site car parking is provided. Please enquire for availability and positioning.
PANORAMA* is ideally situated for ski-in, ski-out access to the ski slopes. Its prime position at the top edge of Upper Hirafu village puts it a short walk from four separate ski lifts. In fact the main gondola is virtually on your doorstep, as the site is right at the foot of the slopes.
Furthermore, the free shuttle bus stop is very close too, giving quick and easy access to the three other adjoining ski resorts and local restaurant town of Kutchan. Please see the village map for more details.
The title is strata freehold.
Yes, the owner’s corporation is managed by a specialist 3rd party company.
During the booking process, all guests are required to give a credit card imprint as security. Any damage
above normal wear and tear is charged to the guest.
COSTS AND PAYMENT TERMS
Pricing is currently scheduled for release in two stages. Initial discounted pre-release pricing is available from March 2008 with a second stage projected for September 2008.
Prices start from ¥38,000,000. Please contact us for specific pricing.
Net returns projected to be up to 5%, based on current market yield figures.
After extensive research, we have determined that buyers are investing in Niseko for several key reasons:
- Product enjoyment
The Niseko area represents a unique opportunity to buy a piece of arguably the world's finest powder skiing and snowboarding. The location not only offers easy access to the mountain but also a charming small village lifestyle with numerous quality bars, cafes, restaurants, and Japanese hot baths (onsens) within a short walk.
- Capital growth
Macro economic indicators currently point to extremely favourable long-term growth for the Japanese real estate sector. In combination with exponentially increasing local tourism plus the fact that summer activities have not really had a chance to take off yet, Niseko becomes an increasingly attractive investment proposition.
- Return
We believe our projected net return of up to 5% from a fully-managed and maintained investment property is more than reasonable considering all relevant factors. This does not include the strong possibility for summer income to rise significantly as the market expands, plus of course the potential for strong capital growth as well.
The relatively young market and variable returns make it difficult to predict strict yields, so the projected returns are floating. These figures have been conservatively calculated based on proven yields from similar comparable developments.
Real estate sales in Japan are very straightforward compared to the complex red-tape in other OECD countries. Japan has fewer governing laws, simpler contracts and relatively low buyer exposures. To buy off the plan, a deposit is initially placed and the final amount supplied on the handover date. Please contact us for more details.
Stamp Duty and Property Acquisition Tax amounts to between ¥200,000 and ¥350,000 per unit (up to 1%) and is calculated by the local government upon project completion.
An 20% initial deposit is required when signing of the contract-for-sale, while the remaining payment is taken on handover.
PANORAMA* strongly recommends using expert knowledge for all property transactions and can recommend several experienced and highly competent English-speaking professional solicitors familiar with the Niseko market.
Solicitor's fees depend greatly on the level of advice sought, though a ballpark figure might be around ¥150,000. This amount would typically cover title searches, registration and common advice.
Japanese Real Estate Agent fees are 3%, paid by both parties with the purchaser paying a complying fee of ¥60,000. There are no sales commissions payable.
Contracts in Japan are sealed by stamps which cost from ¥5000 depending on the type of agreement. Duties, taxes, solicitor fees and miscellaneous costs are quite low in Japan, especially compared to Australia.
FINANCE AND TAX
Yes, the process is very simple and there are no restrictions.
Currently it is quite difficult for non-Japanese individuals to obtain local financing from Japanese banks. Whilst the development finance market is gradually opening up, purchaser finance is unfortunately still limited. PANORAMA* is actively working on this situation, however at the moment there is nothing suitable on offer in Japan. Some Australian purchasers have in the past organised Yen loans from Australian banks set against Australian collateral, however we strongly recommend you undertake further research on this issue if you are interested.
Japanese real estate purchases follow typical formal requirements such as stamp duties, Government purchase taxes and capital gains. Double-tax treaties apply to residents of Australia, Singapore and mainland China (not Hong Kong). Taking advantage of this treaty involves submission of a tax return in both your home country and Japan. For further information please refer to Japan’s Ministry of Finance or contact us for links to Japanese solicitors or accountants.
You may be able to claim against the rental income of the apartment if your home country has a relevant treaty with Japan.
A 5% consumption tax is applicable in Japan, and generally the apartment sale price includes this consumption tax. An acquisition tax of up to 1% is paid after settlement plus several smaller local Government and registration taxes.
PROPERTY MANAGEMENT
To ensure your PANORAMA* ownership experience is
smooth and stress-free and to maximise return on
your investment, we have retained the services of a
proven, highly reputable management company.
SkiJapan.com are specialists in the Niseko region
with over 14 years’ direct experience. Their professional
management team will handle a host of typical
day-to-day tasks at PANORAMA* including bookings,
cleaning, guest management, building maintenance,
security, snow clearing and more. A few SkiJapan.com facts:
- Fully-licensed Japanese Travel Agent with multilingual
staff and local office open 7 days a week.
- Vast customer base throughout Asia-Pacific region and beyond to the UK, guaranteeing the strongest possible returns and highest occupancy rates.
- New NisekoVIP.com brand will target the luxury market with private concierge & transport services.
The standard period of 2 years ensures there is one accountable company for the ongoing maintenance and management of the overall property.
To ensure the property is well managed and cared for, with one line of reporting and action, a single property manager has been appointed (see above). From our experience, if a variety of agents manage apartments in one building, there are inevitable discrepancies in roles and responsibilities. An official body corporate will assist in any property management issues should they arise at any time.
SkiJapan.com will cover everything required to keep your property in excellent condition and ready for the next guests, while simultaneously protecting your asset and ensuring its timely maintenance:
- Introducing PANORAMA*to worldwide travel agents and tour operators
- Body corporate management
- Sinking funds
- Linen and cleaning service appropriate for high quality luxury rentals
- Building insurance
- Bi-lingual management, rental sales and booking office with associated advertising
- Letting fees from tour operators
- Owners accounting and reporting
- Building running costs (heating, electricity, lighting etc) in sub-zero temperatures
- Building maintenance including snow clearing and management
- Help with local tax and legal issues to ensure that you get the best financial result
Market rates are approximately 10% of gross rental income; this is generally calculated and reported monthly
- 20% booking fee
- 10% property management fee
- 25% outgoing costs incurred by the owner: housekeeping, linen, snow clearing, maintenance, rates and insurance.
It is costly to run a building in an area experiencing such high annual snowfall (over 16 metres on average!). Breaking down the expenses, the majority of the fee goes to filling the beds and maintenance. Luxury buildings of this caliber are expensive to upkeep and the bed charge is the market rate charged by most tour operators. Investors in this area have not found this to be a negative in their overall investment decision, and all expenses are inline with the Niseko market
Returns are calculated and paid monthly to your nominated international bank account
We perform ongoing market research and aggressively target all major international tourism companies at specific times of year. A definitive summer/winter split exists with summer visitors being predominantly Japanese (and increasingly from the wider Asian area), while winter has more foreign guests and is generally fully booked-out around 4 to 6 months before the season begins!
MISCELLANEOUS
DISCLAIMER
The data above is provided in good faith for the potential purchaser and is supplied for general information purposes only. PANORAMA*do not can cannot guarantee the accuracy of the information supplied and provides no form of warranty whatsoever. We strongly recommend you seek your own independent professional advice prior to any purchase. 
