Hakuba

白馬村

Nagano
Data updated: Q3 2025Next update: Expected July 2026
99

Investment Index

Stable

Price trend: 127(based on official land price)Volume: 79Price level: 60

Hakuba is positioning as Niseko's affordable alternative. Government data shows early-stage price movement in this ski resort market.

What buyers actually paid vs listing site prices

Listing sites

~¥17,920/m²

→

Actual price

¥16,000/m²

-11%

* Listing price estimated based on typical asking-to-transaction gaps.

333transactions analyzed
MLIT government data
Updated Q3 2025
¥16,000/㎡ ($101/㎡)median
19transactions
Mediumconfidence

Official Land Price Trend

Government-appraised land value per m², assessed annually by MLIT (国土交通省 地価公示).

¥25,557/m²+26.9% YoY(2026)
YearPrice/m²Change
2026¥25,557+26.9%
2025¥20,140+22.5%
2024¥16,440+18.3%
2023¥13,900+15%
2022¥12,090+8.5%
2021¥11,140+0%
2020¥11,140+10.5%
2019¥10,080+12%
2018¥9,000+7.1%
2017¥8,400+3.7%
2016¥8,100-

Source: MLIT Official Land Price (地価公示). Assessed as of Jan 1 each year.

Market Evidence

Recent transaction samples from MLIT

All transactions from MLIT Q3 2025 release

These are actual sale prices recorded by the government — typically 5-15% below listing site prices.

4 of 50
Q3 2025
¥5,400,000
$33,979
450.0 m²|¥12,000/m²
JR Hakuba
Q3 2025
¥5,000,000
$31,462
300.0 m²|¥17,000/m²
JR Hakuba
Q3 2025Built 1984 (42y)
¥80,000,000
$503,398
450.0 m²|¥177,778/m²
JR Hakuba
Q3 2025
¥120,000,000
$755,097
410.0 m²|¥290,000/m²
JR Hakuba

Showing 4 of 50 transactions.

Why the full dataset matters

These 4 records are a sample. Averages hide the range — a 25㎡ studio and a 90㎡ family unit in the same area have very different price points. Building age changes everything too.

The full dataset lets you filter by size, age, and exact location to find transactions that match your criteria — not just the area average.

Get Full Transaction Records

All 50 records with address, size, price, and building age.

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* Data sourced from MLIT (Ministry of Land, Infrastructure, Transport and Tourism) public records. Sample transactions may not represent all market activity.

Who Invests in Hakuba

Typical Investor

Budget resort investors, Niseko alternative seekers

Investment Thesis

Early-stage resort market. Lower entry price than Niseko with similar ski appeal.

Key Risk

Very thin transaction data. Infrastructure less developed than Niseko.

Compare with Similar Areas

Niseko Town

¥3K/㎡

View

Kutchan

¥5K/㎡

View
View all locations

Hakuba — Frequently Asked Questions

What is the difference between asking price and actual transaction price in Japan?
Listing sites show asking prices set by sellers. JRE shows actual transaction prices recorded by Japan's Ministry of Land (MLIT) after deals close. The gap is typically 10-20%. This means buyers usually pay significantly less than listed prices.
Can foreigners buy property in Hakuba?
Yes. Japan has zero restrictions on foreign property ownership. No visa, residency, or citizenship is required. The buying process is identical for foreigners and Japanese citizens.
How reliable is the transaction data on JRE?
All transaction data comes from MLIT (Ministry of Land, Infrastructure, Transport and Tourism) — Japan's government agency. These are actual recorded sale prices, not estimates or asking prices. Data confidence for Hakuba is Medium based on 19+ recorded transactions.
What is the median land price in Hakuba?
Based on MLIT government records, the median actual transaction price for land in Hakuba is ¥16,000/㎡ (approximately $101/㎡). This is the price buyers actually paid, not the asking price.
Are land prices rising or falling in Hakuba?
Official 2026 land price data shows Hakuba recorded a +26.9% change year-over-year. The national average was +2.8%. Hakuba is outperforming the national average.
Is Hakuba a good area to invest in Japanese real estate?
Hakuba's Investment Index on JRE is 99, combining MLIT price trends, transaction volume, and price level vs the broader market (100 is neutral on the JRE index scale). For full analysis including history and building-age context, see the charts and evidence on this page.
How many property transactions were recorded in Hakuba?
MLIT records show 19+ transactions in Hakuba for the latest period on this page. Data confidence level: Medium. More transactions mean more reliable price benchmarks for investors.

Related Guides

→ Hakuba 2026: Asking vs Actual Prices (MLIT)→ Niseko & Kutchan Land Prices (Government Data)→ Japan's 2026 Foreign Investor Reporting Law→ Can Foreigners Buy Property in Japan?