List Development To Launch Sales of Hotel Condominium in Karuizawa
List Development will begin sales in late June for Karuizawa Retreat muro, a luxury hotel condominium under development in Karuizawa, Nagano Prefecture. The property will be operated by Onko Chishin Inc. The project marks the company’s second hotel condominium development, following La Vigne Hakuba by Onko Chishin, which opened in Hakuba, Nagano Prefecture, in December 2024 and sold out all 38 units.
The property is located a 12-minute walk from Naka-Karuizawa Station on the Shinano Railway Line. The surrounding area is home to residential neighborhoods and vacation homes along the Yukawa River, while the Hoshino Area, which includes Harunire Terrace and Hoshinoya Karuizawa, extends to the north. The property will be limited to 17 guest rooms, with an average exclusive-use area of about 111 square meters (approx. 1,195 sq. ft.) and the largest unit spanning more than 160 square meters (approx. 1,722 sq. ft.).
In August 2025, Tokyu Land, The Sankei Building and Mitsubishi Estate Residence opened Karuizawa’s first newly built for-sale hotel condominium. List Development is also planning Anantara Karuizawa Retreat, a luxury resort in Hotchi, Karuizawa, that will mark the Japan debut of Thai luxury hotel brand Anantara. Together with this hotel condominium, the company is advancing its development business in Karuizawa. (Related article: List Development Plans Luxury Resort in Karuizawa, Marking Brand’s Japan Debut.)
Key Facts
Property Name: Karuizawa Retreat muro
Developer: List Development Co., Ltd.
Operator: Onko Chishin Inc.
Location: 3365-7 Aza Otowa, Oaza Nagakura, Karuizawa, Kitasaku District, Nagano Prefecture, and others
Nearest Station: 12-minute walk from Naka-Karuizawa Station on the Shinano Railway Line
Site Area: Approx. 988 tsubo (approx. 35,157 sq. ft.)
Number of Floors: 2F / B0 (reinforced concrete construction with some steel-frame construction)
Total Guest Rooms: 17
Exclusive-Use Area: 70.97 square meters to 161.83 square meters (approx. 764 sq. ft. to 1,742 sq. ft.)
Completion: Mid-October 2027
Sales Launch: Late June 2026