Tokyo residents buying up vacation homes in resort areas to escape summer heat and power shortages

yatsugatake-nanroku-vacation-homeTokyo residents are flocking to Yatsugatake Nanroku near Kiyosato Station in Hokuto City, Yamanashi Prefecture to purchase vacation homes. Due to the predicted power shortages caused by the nuclear power crisis at the Fukushima Daiichi Power Plant, the Kiyosato area with its cooler summers and relative distance from the Fukushima plant is seeing a revival.

Real estate company, Allcare, who develops holiday homes in the Yatsugatake Nanroku area, has started construction on 12 new homes in the past 2 months. They would normally only build 10~12 homes per year, so they are looking at a big increase in sales for 2011.

The buyers are mostly married couples in their 50s who reside in Tokyo. They are looking to build 2-bedroom homes with a budget of 25 ~ 50 million Yen for house and land.

Local real estate agents are also reporting an increase in transactions on 1 and 2 bedroom second-hand properties. They are also seeing an increase in buyers who wish to reside in the area all year round.

Yatsugatake Nanroku has about 20,000 vacation homes. It was developed as a summer resort in the 1970s and was a very popular location during the bubble of the 1980s. The area is a 2.5 hr drive from central Tokyo.

Some of the new vacation homes in the Yatsugatake Nanroku resort area advertised by Allcare:

House: 70.38 sqm (757 sqft)
House: 88.18 sqm (949 sqft)

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The Nikkei Shimbun, June 29, 2011.

Allcare Inc.

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