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KUALA LUMPUR: The Asia Pacific Land (AP Land) project on the island of Hokkaido, SHIKI Niseko is under construction and moving according to schedule, stated Paul Kaye, officer manager of LJ Hooker Niseko.
SHIKI Niseko is a 7-storey building that sits on 0.85 acres of freehold land. There are 69 units spread across the floors and comes fully furnished. The gross development value (GDV) is ¥5.6 billion (RM211.78 million).
Kaye was in town to meet with AP Land management and shared with theedgeproperty.com that interest in Niseko products are rising steadily.
Since the earthquake and tsunami disaster on the island of Honshu, property activities stalled due to fears of radiation arriving on Hokkaido from damaged Fukushima nuclear reactor. However, radiation levels have not changed according to Kaye.
"Hokkaido is 700km away, so it has not been affected. Buyers are realising the area is safe and now confidence is returning to the area," he said. "Liquidity in the market is better now compared to before as some people held off making any purchases."
The interest in real estate in and around Niseko has risen in the past four weeks, revealed Kaye. He also revealed that many investors are from Asia, namely Singapore, Malaysia, Hong Kong and in the past 18 months, China.
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