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☆ Super-aged Japan now has 9 million vacant homes. And that’s a problem
▼ + stars: | 2024-05-07 | by ( Chris Lau | Mayumi Maruyama | ) edition.cnn.com time to read: +6 min

“This is a symptom of Japan’s population decline,” said Jeffrey Hall, a lecturer at Kanda University of International Studies in Chiba. “It’s not really a problem of building too many houses” but “a problem of not having enough people,” he said. According to figures compiled by the Ministry of Internal Affairs and Communications, 14% of all residential properties in Japan are vacant. “When an earthquake or a tsunami occurs, there is a possibility that vacant houses will block evacuation routes as they break down and get destroyed,” he said. In other rural areas with a high concentration of vacant houses, akiya have stalled development, the professor said.

Persons: ”, Jeffrey Hall, “ It’s, don’t, Akio Kon, it’s, “ They’re, Buddhika Weerasinghe, Yuki Akiyama, Akiyama, ” Akiyama Organizations: CNN, Kanda University of International Studies, Ministry of Internal Affairs and Communications, Kanda University, “, Bloomberg, Getty, Ministry, Internal Affairs, Communications, Tokyo City University, Homes Locations: Japan, New York City, Tokyo, Kyoto, Chiba, Kanda, Yato, Yokosuka City, Kanagawa prefecture, Tambasasayama, Noto, Ishikawa, Europe, West, “

☆ I bought a house in Japan for less than $45,000. I live in the peaceful countryside close to every convenience, and everything's cheaper here.
▼ + stars: | 2024-02-19 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +8 min

Ned Watson bought a home in Japan that had been abandoned for two years for less than $50,000. The lack of guns and violence is one of the best things about Japan. My house was abandoned for two years, but didn't need much workI've been living in Japan since 2010, and I got this house in late 2019. I could basically live this lifestyle forever for $20,000 a year, which to me is not a lot of money. So really think about the area that the place is in, what type of personal infrastructure you're going to need to live there.

Persons: Ned Watson, Watson, I've, they're, you'll, It's, that's, it's, you've, I'm, Ned — he's Organizations: Tokyo Station Locations: Japan, Shisui, Japan's Chiba Prefecture, Australia, Georgia, America, New York City, Tokyo, Chiba Prefecture, Narita City, Narita, Watson's

More than 8.5 million abandoned homes in rural Japan are creating a "ghost town" problem. There are more than 8.5 million akiya , or abandoned homes, in rural Japan, according to the country's 2018 Housing and Land Survey, its most recent on record. The institute predicts akiya could exceed 30% of homes in Japan by 2033. As Richard Koo, the chief economist at NRI, told them at the time, the Japanese countryside has been hollowing out since the mid-'90s. Why aren't more Japanese people buying abandoned countryside homes?

Persons: —, who've, Richard Koo, There's, Chris McMorran, Koo, Douglas Southerland, McMorran, Natasha Durie, Durie, Eric McAskill, McAskill, Jaya Thursfield, Chihiro, Kurosawa, Joey Stockermans, akiya Organizations: Service, Survey, Nomura Research Institute, Business Insider's, NRI, National University of Singapore, of Anthropology, Ethnography, Oxford University, Canadian Real Estate Association Locations: Japan, Business Insider's Singapore, Gifu, Vancouver, Canada, Nagano Prefecture, England, Ibaraki Prefecture, London, North America, Kyushu, akiya

Millennials are turning to more creative and affordable ways of getting on the property ladder, such as buying a fixer-upper. One day, while out walking, she noticed a beautiful, old house that "seemed empty and looked a wreck." A couple bought a 19th-century manor house in Ohio they saw in the Cheap Old Houses newsletterThe Angeleauxs pose in front of Walnut Hill, a house they found on the Cheap Old Houses Instagram account. In May 2022, the Cheap Old Houses newsletter advertised an 1800s manor house in the small village of Higginsport, Ohio. During the renovation, Wormann handled a termite infestation in the beams, disposing of mountains of trash, and firing unreliable contractors.

Persons: —, Betsy Sweeny, Betsy Sweeny Betsy Sweeny, Sweeny, Kayli, Angeleaux, Connor, Kayli Angeleaux, Connor Angeleaux's, We're, Farleigh, Olamide Soyemi, Cullen Farleigh Olamide Soyemi, Cullen Farleigh, Soyemi, creatives, Cullen, Anton Wormann, Anton Wormann Anton Wormann, Wormann, hadn't, akiya Organizations: Service, McClain House, Federal Housing Association Locations: Wheeling , West Virginia, McClain, Virginia, Ohio, Walnut Hill, Utah, Higginsport , Ohio, Colombus, London, East London, Swedish, Tokyo, Japan, Sweden

☆ People are buying cheap, abandoned homes in Japan and living their dreams free of financial burden
▼ + stars: | 2024-01-14 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Japan has more than 8 million abandoned homes, with no restrictions on foreign buyers. Homeownership in Japan isn't the same path to financial freedom as in other countries. AdvertisementTake Kurosawa spent summers in Japan as a kid, and always dreamed of owning property there. In January, Kurosawa and Stockermans launched Akiyamart , a website to help foreigners find and purchase abandoned homes in Japan. It's a money-maker that has worked in the US but isn't necessarily a surefire way to generate income in Japan.

Persons: —, Kurosawa, Joey Stockermans, Stockermans, It's, Eric McAskill, McAskill, Jaya Thursfield, Chihiro, Eric McAskill Anton Wormann, Bethany, Bitsii, Nakamura, homeownership, Bethany Nakamura, Jordan Pandy Organizations: Foreigners, Service, Survey, Business Locations: Japan, Homeownership, Beppu, Kyushu, Santa Cruz , California, Nova Scotia, Canada, Italy, Portugal, —, California, Bali, Nagano Prefecture, Jaya, Ibaraki Prefecture, London, America, jpandy@businessinsider.com

☆ Japan has a glut of 8.5 million akiya, empty 'ghost houses' left to rot. Now Airbnb wants to fill them with tourists.
▼ + stars: | 2023-11-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Airbnb wants to use a growing glut of abandoned homes in Japan to boost its business. Japan has around 8.5 million akiya, or empty homes, as its population shrinks and ages. If the owners of idle assets refurbish them and convert them into lodgings, that would be a solution," Airbnb's head of Japan, Yasuyuki Tanabe, told Nikkei. Airbnb hopes to partner with businesses and local governments to encourage homeowners to invest in renovations, Tanabe told Nikkei. AdvertisementJapan has close to 8.5 million abandoned homesJapan has some 8.49 million akiya, or unoccupied homes, according to the government's Housing and Land Survey in 2018.

Persons: Airbnb, —, Yasuyuki Tanabe, Tanabe Organizations: Nikkei, Service, Survey, Nomura Research Institute, Japan National Tourism Organization Locations: Japan, Tourism

☆ They gave up city life to buy an abandoned $10,000 house in Japan and renovate it. They say they'll never take on a project like that again.
▼ + stars: | 2023-10-30 | by ( Amanda Goh | ) www.businessinsider.com time to read: +11 min

Gilles Beaufils and his wife gave up city life in Tokyo to renovate an abandoned house in rural Japan. AdvertisementAdvertisementAfter three decades of working in Tokyo, Gilles Beaufils decided he needed a change of scenery. Gilles Beaufils/Base Camp ImariThe akiya is just over 1,800 square feet and is located right in the middle of the village. Gilles Beaufils/Base Camp ImariOnce the pandemic restrictions started to ease, travelers started coming back to Japan in troves, he said. Gilles Beaufils/Base Camp Imari"They don't show you the moist, they don't show you the termites, they don't show you these kinds of things in the photos," he added.

Persons: Gilles Beaufils, they'll, —, Frenchman, Beaufils, I've, — Beaufils, Makoto Watanabe, Imari, it's, Amanda Goh Organizations: Service Locations: Tokyo, Japan, Kyushu, Okawachiyama, Saga Prefecture, Fukuoka, Kumamoto, Nagasaki, Saga, troves, Itoshima, agoh@insider.com

☆ An American couple left their rent-free life in Mexico and moved to a $7,500 abandoned home in Japan: 'We feel overwhelmingly welcome'
▼ + stars: | 2023-10-10 | by ( Julian Ryall | ) www.businessinsider.com time to read: +9 min

Evan and Dani BretonEvan, now 40, worked as a massage therapist while Dani, now 39, was a self-employed photographer. Dani and Evan BentonThe couple drove over the border into Mexico on December 5, 2021. Guanajuato, MexicoHouse-sitting was a way to live rent-free in MexicoThe couple became house-sitters in Mexico so they could live rent-free and travel around the country. Japan was their final stop because of cheaper house pricesAfter 14 months in Mexico, the couple concluded that Japan "would be a better fit for us." The house cost $7,500 and the realtor's fees were an additional $1,500.

Persons: Dani, Evan Benton, —, Dani Benton, Evan, Dani Breton Evan, New Orleans Evan, Dani Breton, Bentons, could've, Evan Benton Dani, Dani Benton Evan, they've, grandpas, We've Organizations: Service, Ninth Ward, Mexico House, Facebook Locations: New Orleans, Mexico, Japan, Dallas , Oregon, Cholula Puebla, Guanajuato, www.housesitmexico.com, Tokyo, South Korea, Omishima, Ehime Prefecture, Louisiana

☆ How to buy one of those cheap, abandoned houses in Japan, according to a Canadian dad of 2 who did it
▼ + stars: | 2023-09-24 | by ( Amanda Goh | ) www.businessinsider.com time to read: +5 min

Eric McAskill, bought an abandoned house, or akiya, in rural Japan through an akiya bank for $23,600. Foreigners can obtain Japanese real estateOne of the best parts of Japan is that foreigners can own property, McAskill said. AdvertisementAdvertisementBut navigating akiya banks can be confusing because every community in Japan manages its own directory of abandoned houses, McAskill said. "The real-estate agents worked with the notary here to prepare the documents and sent me a copy in Bali," McAskill said. AdvertisementAdvertisementThe transaction was finalized without a hitch, and McAskill's currently in the midst of restoring the abandoned property.

Persons: Eric McAskill, McAskill, —, eyeing, they've, McAskill's Organizations: Service, Foreigners Locations: Japan, Wall, Silicon, Bali , Indonesia, Bali, Canada

☆ A millennial dad of 2 bought an abandoned home in Japan for $23,600. He says restoring it is easier than expected.
▼ + stars: | 2023-09-21 | by ( Amanda Goh | ) www.businessinsider.com time to read: +12 min

Eric McAskill bought an abandoned house, or akiya, in the rural Japanese countryside for $23,600. Eric McAskill and his wife, together with their two children. Over the next decade, he would find himself visiting Japan again and again, each time visiting a different prefecture. McAskill bought his akiya through an akiya bank, which is a database maintained by the local municipalities for abandoned or vacant houses. "The first person to bid starts to enter into negotiations with the owner," McAskill said of the bidding process in Japan.

Persons: Eric McAskill, Eric McAskill's, —, McAskill, let's, Eric McAskill McAskill, Eric McAskill McAskill's, I'm, haven't, It's, I've, he's Organizations: Service, IKEA Locations: Wall, Silicon, Japan, Bali, Nagano Prefecture, Vancouver, Canada, Abashiri, Hokkaido, Yonaguni, Taiwan, Indonesian

☆ A Swedish millennial bought one of Japan's famously cheap abandoned houses. Here's how he turned the 100-year-old property into a luxury Airbnb.
▼ + stars: | 2023-09-04 | by ( Julian Ryall | ) www.businessinsider.com time to read: +7 min

Anton Wormann, a 30-year-old Swedish model, moved to Tokyo in 2019 after visiting for work. Advertisement Advertisement Watch: Inside a $12,000-a-night Airbnb in HollywoodMoving to Japan was the 'best decision'Wormann, a Swedish model, working on renovations in his Japanese house. After settling in the hip Shibuya and Sangenjaya districts of west Tokyo, Wormann told Insider he began buying cheap, neglected properties in the area and flipping them to rent for extra income. Wormann told Insider he was passing by the house and saw the owners at the site. The Sangenjaya house was completed in March, and Wormann told Insider he had his first Airbnb guests within a month.

Persons: Anton Wormann, Wormann, hadn't, Anton Wormann Wormann, shoji, Anton, Japan Wormann Organizations: Service, YouTube Locations: Tokyo, Wall, Silicon, Stockholm, Japan, New York, Milan, London, Paris, Hollywood, Swedish, Sweden

☆ Japan has millions of cheap abandoned homes. Here's what to know before you buy one.
▼ + stars: | 2023-08-04 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +5 min

With the population in Japan shrinking and Japanese buyers vastly preferring new over used homes, older homes are often abandoned when owners die or younger generations refuse to inherit them. The Japanese government estimated in 2018 that there were nearly 8.5 million abandoned homes in the country. Jaya Thursfield and his wife, Chihiro, moved from London to Japan after buying an abandoned Japanese farmhouse in Ibaraki, a Japanese prefecture about an hour's drive northeast from Tokyo. With many Japanese buyers preferring newly built houses, some homes are demolished after only 20-30 years. And while houses in the US typically appreciate in value, houses in Japan tend to gradually depreciate in value over time.

Persons: Jaya Thursfield, Chihiro, Richard Koo, Koo, Bethany Nakamura, Nakamura, it's Organizations: Service, Privacy, Japan, Japan's Ministry of Land, Transport, Tourism, YouTube, Law, Nomura Research Institute Locations: Wall, Silicon, Japan, Infrastructure, London, Ibaraki, Tokyo, Jaya, America

☆ A couple transformed an 150-year-old abandoned farmhouse in rural Japan into an Airbnb. Here's how they built their country homestead.
▼ + stars: | 2023-05-21 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

Byron and Kaori Nagy have fully renovated a 150-year-old unoccupied farmhouse an hour outside Tokyo. Byron, who's originally from New Jersey, also created a farm on land nearby. They've also spent between $300,000 and $400,000 building a new home in the traditional Japanese style. Top editors give you the stories you want — delivered right to your inbox each weekday. "It's easier today to live in this country than it's ever been," Allen said.

☆ Want to buy a cheap house in rural Japan? This millennial farmer offers his advice
▼ + stars: | 2023-05-12 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +6 min

Life on a farm is "very, very busy," says Lee Xian Jie, who harvests his own rice and tea. said Lee Xian Jie, who restored three buildings in Ryujin-mura, a village in Japan's Wakayama prefecture. On the same property is a 100-year-old building, which Lee Xian Jie converted into a guesthouse. Lee Xian JieAnother $37,000 was spent to turn the main house into a living space for himself and a functional cafe. While it will only open in June, Lee Xian Jie said he's already been getting some bookings.

☆ Want a fixer-upper in Japan? You could nab one of millions of country houses for sale for just $25,000.
▼ + stars: | 2023-04-17 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

Japan has a glut of abandoned homes in rural areas and small towns. Japan has a glut of older, abandoned homes in rural areas, as Insider has previously reported. The country has at least 8.5 million such "akiya," the Japanese word for unoccupied home, according to government data from 2018. They're increasingly buying up these houses and restoring them, the New York Times reported. In 2020, he co-founded a real estate consultancy, called Akiya & Inaka, that markets and sells akiya and other traditional homes, the Times reported.

☆ Couple who transformed an abandoned Japanese home into a guesthouse
▼ + stars: | 2023-04-05 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +11 min

He also happened to have his heart set on a traditional Japanese house, typically known as kominka, which are usually passed down over generations. “I had a vision.”Guesthouse dreamDaisuke and Hila Kajiyama transformed an abandoned farming residence in Japan into a guesthouse. He saved money by collecting traditional wood from building companies who were in the process of breaking down traditional houses. “Usually, with traditional houses, some renovations are made to the walls, because the insulation is not so strong. After doing some research into Japanese guesthouse permits, he discovered that one of the simplest ways to acquire one would be to register the property as an agriculture guesthouse.

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