Miyakojima, a captivating island nestled in Japan’s Okinawa prefecture, has become the focal point of an astounding real estate frenzy. As the world braces for the decline of the COVID-19 pandemic, investors are eagerly pouring their resources into hotels and resorts on this picturesque island in anticipation of an imminent tourism boom.
Renowned for its crystal-clear waters and the ethereal “Miyako Blue,” Miyakojima has long captivated the hearts of investors and tourists alike. The island’s pristine white sandy beaches serve as an irresistible magnet, drawing in individuals from all across the globe. Consequently, the demand for properties on the island has skyrocketed, triggering what experts are referring to as the “Miyakojima bubble.”
In recent years, the island’s land prices have witnessed an impressive surge. Last year alone, these prices spiked by a staggering 16.6%, a stark contrast to the 4.9% increase observed in the Okinawa prefecture as a whole. Notably, Okinawa prefecture boasted the most rapid rise in land prices among all the prefectures in Japan. These statistics pertain to land zoned for multifarious purposes and were obtained as of July 1.
Given these extraordinary figures, it is evident that Miyakojima has emerged as an investment hotspot. With the anticipation of an imminent tourism boom, investors are keen to capitalize on the island’s immense potential. The allure of its natural beauty coupled with the promise of a thriving travel industry are undeniably appealing prospects.
As Miyakojima’s real estate market continues to flourish, the island holds immense promise for those seeking lucrative opportunities. Whether as an investor or a tourist, it is evident that Miyakojima’s paradise-like charm and its potential for growth make it an ideal destination for both financial and personal enrichment.