Hakuba
白馬村
Nagano99
Investment Index
Stable
Price trend: 127(based on official land price)Volume: 79Price level: 60
Japan's fastest-rising ski resort property 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/㎡ ($100/㎡)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)
| Year | Price/m² | Change |
|---|---|---|
| 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
These are actual sale prices recorded by the government — typically 5-15% below listing site prices.
| Date | Price | Area | Price/㎡ | Built | Station |
|---|---|---|---|---|---|
| Q3 2025 | ¥5,400,000 $33,849 | 450.0 m² | ¥12,000 $75 | N/A | JR Hakuba |
| Q3 2025 | ¥5,000,000 $31,342 | 300.0 m² | ¥17,000 $107 | N/A | JR Hakuba |
| Q3 2025 | ¥80,000,000 $501,473 | 450.0 m² | ¥177,778 $1,114 | 1984 42 years | JR Hakuba |
| Q3 2025 | ¥120,000,000 $752,210 | 410.0 m² | ¥290,000 $1,818 | N/A | JR Hakuba |
Q3 2025
¥5,400,000
$33,849
450.0 m²|¥12,000/m²
JR Hakuba
Q3 2025
¥5,000,000
$31,342
300.0 m²|¥17,000/m²
JR Hakuba
Q3 2025Built 1984 (42y)
¥80,000,000
$501,473
450.0 m²|¥177,778/m²
JR Hakuba
Q3 2025
¥120,000,000
$752,210
410.0 m²|¥290,000/m²
JR Hakuba
Showing 4 of 50 transactions.
Get the Full Transaction Records for Hakuba
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- ✓All 50 actual transaction 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.
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 $100/㎡). 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.