What the data says
Nozawa Onsen is a compact hot-spring village with a large ski area, and very few recorded sales. MLIT's buyer survey holds 87 land and house sales for 2015–2025, from 2 to 24 a year and only 3 in each of 2024 and 2025, and brokers' closed prices (成約価格) contain none. We therefore show five-year ranges instead of a yearly trend: in 2021–2025 the median land sale was ¥2.4m (middle half ¥0.37m–¥6.2m) and the median house ¥5.5m (¥1.5m–¥9.9m); in 2016–2020 the medians were ¥3.0m and ¥7.0m. Comparing three-year windows instead, the median sale rose from ¥4.0m in 2018–2020 to ¥5.4m in 2023–2025 (+35%, on 23 and 30 sales), so with this few sales even the direction depends on which plots happened to sell. Official land values are clearer. Nozawa's four official points rose 21–27% in the latest year; the two Official Land Price (公示地価) residential points are up 64–76% over five years, at ¥24,700 and ¥34,000/㎡, and the commercial Prefectural Land Price Survey (基準地価) point in the Yuzawa (湯沢) hot-spring area, at ¥50,800/㎡, is roughly double its 2021 level. There are no condominium sales in the data.
Few sales, so no yearly trend. MLIT recorded 45 land and house sales here in 2021–2025 (by year from 2016: 2016: 2, 2017: 9, 2018: 5, 2019: 13, 2020: 5, 2021: 10, 2022: 5, 2023: 24, 2024: 3, 2025: 3). A median of a handful of sales jumps around with whatever happened to sell, so instead of a yearly chart we show five-year medians and the middle half of prices (25th to 75th percentile). Buyer survey (取引価格・アンケート) only.
Prices over five years: medians and ranges
Land-only plots and houses (building with land), buyer survey (取引価格・アンケート) only. ¥/㎡ is per ㎡ of land for both. The “middle half” is the range between the 25th and 75th percentile of sale prices, left out when there are fewer than 4 sales.
| Period | Type | Sales | Median price | Median ¥/㎡ of land |
|---|---|---|---|---|
| 2021–2025 | Land only | 24 | ¥2.40m ≈ US$15,229 middle half ¥365,000–¥6.20m | ¥13,056 ¥2,381–¥26,571 |
| 2021–2025 | House / building with land | 21 | ¥5.50m ≈ US$34,901 middle half ¥1.50m–¥9.90m | ¥14,679 ¥6,438–¥29,838 |
| 2016–2020 | Land only | 13 | ¥3.00m ≈ US$19,037 middle half ¥1.50m–¥5.60m | ¥11,915 ¥10,000–¥18,182 |
| 2016–2020 | House / building with land | 21 | ¥7.00m ≈ US$44,419 middle half ¥2.30m–¥11.0m | ¥30,667 ¥11,111–¥59,649 |
Five-year change, three years at a time
Median of all land and house sales in 2018–2020 and 2023–2025, buyer survey only. Three-year windows smooth out single-year noise; the change is shown only when both windows have 20+ sales. The house column is shown for context; with fewer than 10 sales in a window it carries no percentage.
| Area | Median sale 2018–2020 | Median sale 2023–2025 | Change | Houses only |
|---|---|---|---|---|
| Nozawa Onsen | ¥4.00m n=23 | ¥5.40m n=30 | +35% | ¥8.35m → ¥5.80m n=12→15, -31% |
Official land prices here
Japan's two official land-price surveys value fixed sample points every year: the Official Land Price (公示地価, as of 1 January) and the Prefectural Land Price Survey (基準地価, as of 1 July). They are appraisals of the land alone, as if vacant, not sale prices, and land right on the slopes usually sells for more. The two surveys are six months apart and are not averaged together.
| Point | Survey | Use | ¥/㎡ | 1 yr | 5 yr |
|---|---|---|---|---|---|
| Nozawa Onsen village 野沢温泉-1 · 下高井郡野沢温泉村大字豊郷字蟹沢7886番10 | 公示地価, 1 Jan 2026 | Residential | ¥34,000 US$216 | +22.3% | +76.2% |
| Nozawa Onsen village 野沢温泉-2 · 下高井郡野沢温泉村大字豊郷字八幡下6513番外 | 公示地価, 1 Jan 2026 | Residential | ¥24,700 US$157 | +21.1% | +63.6% |
| Yuzawa, hot-spring village centre 野沢温泉5-1 · 下高井郡野沢温泉村大字豊郷字湯沢9577番2外 | 基準地価, 1 Jul 2026 | Commercial | ¥50,800 US$322 | +27.0% | +105.7% |
| Yuzawa, hot-spring village 野沢温泉-1 · 下高井郡野沢温泉村大字豊郷字湯沢9669番1 | 基準地価, 1 Jul 2026 | Residential | ¥30,700 US$195 | +21.8% | — |
Processed from MLIT National Land Numerical Information (Land Price Publication L01 / Prefectural Land Price Survey L02), CC BY 4.0: 「国土数値情報（地価公示データ）」（国土交通省）（https://nlftp.mlit.go.jp/ksj/gml/datalist/KsjTmplt-L01-2026.html）を加工して作成／「国土数値情報（都道府県地価調査データ）」（国土交通省）（https://nlftp.mlit.go.jp/ksj/gml/datalist/KsjTmplt-L02-2026.html）を加工して作成. Point selection, English place names and medians are ours. “—” = no five-year history. USD at ECB 2026-09-25. Land prices in other resort towns →
Compared with other ski areas
The same measures for each ski area, all from MLIT's buyer survey (取引価格・アンケート), so the rows are comparable with each other. “5-year change” compares the median of all land and house sales in 2018–2020 with 2023–2025 (three years each, to smooth out single-year noise), and is shown only when both windows have 20+ sales. Typical prices are 2021–2025 medians. Official land price change is the median five-year change of the benchmark points (公示地価 1 Jan 2026 / 基準地価 1 Jul 2026), which are appraisals, not sales.
| Area | Sales 2021–2025 | 5-year change, median sale | Land plot, median 2021–2025 | House, median 2021–2025 | Official land price, 5 yr |
|---|---|---|---|---|---|
| Niseko area Kutchan + Niseko Town | 333 | +38% ¥13.0m → ¥18.0m · n=311→207 | ¥9.05m ¥23,810/㎡ · n=196 | ¥30.0m n=137 | Kutchan: 公示 +37% · 基準地 +52%; Niseko Town: 基準地 +67% |
| Hakuba Hakuba Village | 288 | +186% ¥4.90m → ¥14.0m · n=186→169 | ¥6.15m ¥10,128/㎡ · n=178 | ¥23.0m n=110 | 公示 +162% · 基準地 +67% |
| Furano area Furano + Kamifurano + Nakafurano | 405 | +16% ¥5.00m → ¥5.80m · n=239→247 | ¥3.70m ¥11,304/㎡ · n=167 | ¥7.75m n=238 | Furano City: 公示 +2% · 基準地 +14% |
| Myoko, ski side nearest station Myoko-Kogen | 73 | -9% ¥4.00m → ¥3.65m · n=30→48 | ¥1.65m ¥2,406/㎡ · n=40 | ¥6.70m n=33 | resort points: Akakura +7.7% (公示); Futamata +12.0% (基準地); Sekikawa +44.7% over 3 yrs (基準地) |
| Myoko City, whole mostly downtown Arai | 344 | -10% ¥5.00m → ¥4.50m · n=184→181 | ¥3.20m ¥7,105/㎡ · n=194 | ¥7.00m n=150 | 公示 -13% · 基準地 -12% |
| Rusutsu Rusutsu Village | 13 | too few sales (13→9) | ¥1.70m ¥4,679/㎡ · n=6 | ¥5.50m n=7 | 基準地 +53% |
| Nozawa Onsen Nozawa Onsen Village | 45 | +35% ¥4.00m → ¥5.40m · n=23→30 | ¥2.40m ¥13,056/㎡ · n=24 | ¥5.50m n=21 | 公示 +70% · 基準地 +106% |
In your currency
Converted at ECB reference rates of 2026-09-25: ¥157.59 = 1 USD, ¥110.79 = 1 AUD, ¥20.09 = 1 HKD, ¥123.39 = 1 SGD. TWD, which the ECB does not publish, at the U.S. Federal Reserve H.10 rate of 2026-09-18 (via FRED): ¥4.93 = 1 TWD. The same rate is applied to every figure, so these are today's-money conversions of yen prices, not what was paid at the time. Your bank's rate and fees will differ. Buyer survey (取引価格・アンケート).
| JPY | USD | AUD | HKD | SGD | TWD | |
|---|---|---|---|---|---|---|
| Median land plot, 2021–2025 | ¥2,400,000 | US$15,229 | A$21,663 | HK$119,000 | S$19,450 | NT$487,000 |
| Median house, 2021–2025 | ¥5,500,000 | US$34,901 | A$49,644 | HK$274,000 | S$44,572 | NT$1.12m |
| Median land ¥/㎡, 2021–2025 | ¥13,056 | US$83 | A$118 | HK$650 | S$106 | NT$2,648 |
Read this before relying on the numbers
- Very few sales. 45 land and house sales in 2021–2025, 24 of them in 2023 alone. Most are in the Toyosato (豊郷) district that contains the village. The medians show what those sales fetched; they are not a price index.
- No condominium sales. Figures are land, and land-with-building (houses, lodges) only.
- Hotels, lodges and ryokan can't be separated. The data has no hotel/ryokan category; any such sales are mixed into “house / building with land” or land.
- Buyer-survey data only. Every figure on this page comes from MLIT's buyer survey (取引価格・アンケート); brokers' closed prices (成約価格, from 2021) contain no sales here.
Methodology
- Data: the buyer-survey transaction prices (不動産取引価格情報), 2015Q1–2025Q4, for Nozawa Onsen (野沢温泉村; municipality code 20563), from the MLIT Real Estate Information Library, selected by MLIT's price-type field (価格情報区分). Fetched 2026-09-29.
- Five-year ranges: median and 25th/75th percentile of all land-only and house sales in each five-year window. Sales flagged by MLIT as between related parties, court auctions or purchases of adjoining land are excluded; so are farmland and forest.
- Five-year change: median sale in 2018–2020 vs 2023–2025, shown only when both windows have 20+ sales.
- ¥/㎡: price divided by recorded land area. Plots recorded only as “2,000㎡ or more” count in price medians but not in ¥/㎡.
- Coverage: the survey is not every sale, and prices and areas are rounded.
Can you get a mortgage to buy in Nozawa Onsen? It depends on your residency status: permanent residents borrow like Japanese nationals, a few banks lend to foreigners living in Japan on a visa, and buyers living abroad have only a handful of options (mostly for Taiwan and Hong Kong), usually with 30–50% down. See Japanese mortgages for foreigners: lenders by residency status (updated monthly), or estimate the monthly repayment: permanent resident · living in Japan, no PR · living abroad. We are not a lender and receive no fees from banks.
Source: MLIT Real Estate Information Library (processed by Japan House Prices). https://www.reinfolib.mlit.go.jp/ — 出典：国土交通省 不動産情報ライブラリ（https://www.reinfolib.mlit.go.jp/）のデータを加工して作成. Original content: Transaction prices (不動産取引価格情報) and contract prices (成約価格情報). We filtered, grouped and took medians of the published records; the resulting figures are our own and are not published or endorsed by MLIT (国土交通省).
Exchange rates: ECB euro foreign exchange reference rates of 2026-09-25; TWD (not published by the ECB): U.S. Federal Reserve H.10 rate via FRED, 2026-09-18. Past transaction prices do not predict future prices; this page is not a valuation, an offer of property, or investment advice. Last reviewed 2026-09.
Local agents in this area (not affiliated)
- Nikota Realty: Niseko, Hakuba, Nozawa Onsen and Tokyo
- Solid Real Estate: Nozawa Onsen, and ryokan across Japan
- Nozawa Hospitality: Nozawa Onsen: mainly property management
Names taken from the companies' own public websites, so you can see who is active locally. We have no agreement with any of them, this is not a recommendation, and we have not checked their licences on MLIT's register. Contact them directly, or use the form below.
Thinking of buying in Nozawa Onsen?
We can introduce you to licensed local brokers who work with overseas buyers. We are not a real estate broker; we introduce you to licensed Japanese brokers. We don't describe, recommend or negotiate properties, and we don't charge buyers. Brokers may pay us a referral fee.
More price pages
Niseko property prices · Hakuba property prices · Furano property prices · Myoko property prices · Rusutsu property prices · Central Tokyo apartment prices · Chiyoda apartment prices · Chuo apartment prices · Minato apartment prices · Shinjuku apartment prices · Shibuya apartment prices · Kyoto property prices · Tokyo price per square metre, by ward · Tokyo condo prices — monthly tracker
New to buying in Japan? Read our step-by-step guide for foreign buyers. Rules for foreign buyers are changing: see the foreign ownership rules tracker. Planning to rent it out short-term? See Airbnb (minpaku) rules by city. Need a loan? See mortgages for foreigners by residency status. Worried about earthquakes and floods? See Tokyo earthquake & flood risk by ward (with prices).