In November 2018, a Gifu-based real estate company has purchased a historic Japanese inn at a public foreclosure auction. The winning bid was 42,790,000 Yen.
The ski resort town of Hakuba in Nagano Prefecture recently held an internet auction for several parcels of land within ski fields. This is the first time the town has foreclosed on land that forms part of a ski course.
Four parcels of land were within the Hakuba Iwatake Ski Fields and seven parcels of land were within the Hakuba Goryu Ski Area. They ranged in size from 500 ~ 9,000 sqm, but only made up a tiny portion of the total ski field area. Prices ranged from 1.3 ~ 3.9 million Yen.
Over the past year rumours have been circulating that Bill Gates is building a large vacation home in Karuizawa’s Sengataki neighbourhood.
An aerial photo of the construction site shows a large building spanning four levels. Reporters who tried to get photos from the driveway were shooed away by security guards, but neighbours said that the billionaire co-founder of Microsoft was the owner.
Although land prices have been falling year on year in the popular resort town of Karuizawa, Nagano Prefecture, property transactions have increased since the March 11 Tohoku disaster as the power conservation and fear of radiation led people to seek safer and cooler locations outside of Tokyo.