Myoko Spotlight: A Booming Ski Town

Myoko Kogen is a ski area nestled right on the border of Nagano and Niigata Prefectures, about a three-hour train ride from Shinjuku Station. The region first made its name in the early 1900s when it was voted the most popular summer resort in Japan. Now its more famous for its winter spectacles. As one of the first major mountain ranges inland from the Sea of Japan, Myoko gets absolutely dumped on. We're talking about four feet of snow overnight during the right storms. Unlike Hokkaido, where the snow is more consistent but falls in smaller daily amounts, Myoko's snowfall is heavier and hits harder. The tradeoff? That southern latitude means more freeze-thaw cycles, especially later in the season. But when it’s on, it’s truly on.

The area sits in a beautiful, snow-filled valley with access to a surprising number of resorts. There are four right in the Myoko Kogen area, and another three or four within a 30-minute drive. One of my personal favorites, Lotte Arai, is only about 25 minutes away. In my opinion, it’s home to some of the steepest on-piste terrain in the country, which is saying something in a place where powder is plentiful but steeps are harder to come by. Arai delivers both in spades.

Over the last four or five years, Myoko has quietly become a magnet for foreign tourists, especially Australians. These days it’s more common to hear an Aussie accent behind the espresso machine or ski rental counter than it is to find a local Japanese running the shop. The foreign presence has completely reshaped the local vibe, injected new energy and putting Myoko firmly on the international ski map.

That growing attention has been matched by serious investment. Two major developments have changed the landscape in the last decade. In 2017, Korean conglomerate Lotte Group bought and revitalized Lotte Arai, turning it into a luxury destination with high-speed lifts, proper avalanche control (The resort was founded by Hideo Morita, the son of Sony co-founder Akio Morita and after a few avalanche deaths, was closed), and upscale amenities. Then in 2023, Singaporean investment fund Patience Capital Group announced plans to build a brand new 350-hectare resort in Myoko, set to open in 2028. The price tag? A cool $1.4 billion USD. Once completed, it will be the third-largest ski resort in Japan, behind only Shiga Kogen and Joetsu Kokusai. This won’t be a mom-and-pop operation either; the resort is expected to cater to high-end travelers, with luxury accommodation and modern infrastructure.

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Since the announcement, land prices in the region have already climbed 9%, and there’s every reason to believe they’ll keep rising. Homes don’t sit on the market long anymore; many never even make it to the listings and are sold off-market to buyers who are already dialed in. From an investment standpoint, Myoko is best positioned to become the next Hakuba or Niseko. The supply of homes is limited, but the demand, from both skiers and investors, is growing fast. The conditions are all in place for a boom if it hasn’t already begun.

Clients who are interested in Myoko are often Shocked by the prices. When they hear about cheap homes in Japan, they assume its every rural destination and when i tell them their unlikely to find a home under 125K, there often disappointed. But if you Look a little west, into Myoko City, Arai, and even Joetsu City, you can still find homes for very affordable prices. Often as low as $25,000 to $30,000 USD, and you’re still just a short drive from multiple ski resorts. Plus, there's one huge bonus: significantly less snow shoveling. Down closer to sea level, you might be brushing a few inches off your windshield while your buddies up in Akakura Onsen are spending 45 minutes digging their cars out after a storm. You’ll be sipping coffee and rolling out to first chair while they’re still looking for their shovel.

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