Until the 2006-2007 season Niseko property and real estate was primarily being bought up by Australian investors. This was a reflection of the high percentage of Australians among the thousands of foreign skiers and snowboarders attracted to Niseko, Asia's premier alpine resort. Niseko has been popular with Australian powder hounds for the better part of a decade (they are often credited with "discovering" the resort) because it offers northern hemisphere winter fun during the Australian summer without the jet lag associated with marathon trips to European and North American resorts.

In 2007-2008 the number of foreign visitors making their way to Niseko nearly doubled once again, fueling demand for accommodation and property, continuing the staggering run of annual double digit growth that has yielded impressive capital gains on any Niseko property investors could get their hands on. 2007-2008 was however a turning point for Niseko in that suddenly, the accents heard about the village no longer seemed exclusively Austalian.

Although Australians still run most of the businesses catering to foreign skiers and investors, they are finding that their client base has become a lot more international.

Several Niseko companies have been actively courting the British market. Now that the secret of Niseko's world class powder snow is out, Tokyo expats, usually buried in work, have also started converging on the resort whenever they get a few days off. However, the largest growth currently and for the foreseeable future is from Malaysia, Singapore, mainland China, and Hong Kong.