Kabayama is the area directly south of Hirafu Village towards Higashiyama, along route 343. There have been many new developments in this area over the last few years.
Most notable is the addition of several restaurants and new homes in areas flanking either side of the main road. The renowned Lupicia restaurant completed their flagship restaurant in 2009 in Sunlight Youtei I with an additional boutique cafe in 2012.
On the northern edge of Kabayama and closest to Hirafu lies the largest residential area, St. Moritz. This is a quiet, leafy division with many smaller houses and a handful of lodges. The proximity to Hirafu and peaceful settings make this a popular and more reasonable location for those looking outside of Hirafu.
The Japanese real estate firm, Maruzen Cosmo developed Sunlight Youtei I and II in 2007- 2008 and the low price of the land and proximity to Hirafu meant they sold out quickly. More recently, Country Resort and The Orchards have offered alternative areas for investors, with plenty of space and good communities.
In the last twelve months, several development plots such as Kabayama Soga, below, have been purchased in Kabayama with developers anticipating an overflow from the rising demand in Hirafu. Many of the plots in Kabayama provide spectacular views to Mt. Youtei and the ski hills.
With prices in Kabayama lower than Hirafu, this area offers investors the chance to purchase a much larger plot of land, put more money into a building, or enter the market at a lower price point. Due to the lower price point, there is also a good chance for capital growth.