Akiya - Empty Properties In Japan
The Mrs. and I have been looking for a house for the past year. It's a long process as we both want different things, I want an old, traditional place near the countryside, whereas my wife wants something more modern & close to the city.
While recently searching I come across a phenomena called "akiya" or empty homes. Estimates are there are over 7,000,000 akiya. Japan's real estate market has two problems:
- The Japanese want modern, new places close to the city.
- A shrinking population.
These two factors have meant the cities have grown with huge condominium, mansion in Japanese, developments while leaving a huge surplus of older homes outside of the cities. As a renovation contractor I find it almost unbelievable that you would sacrifice a plot of land with a home for a concrete box with convenience that is projected to last about 60years.
I've recently been browsing some of the akiya sites in Japan and the real estate deals are unbelievable. For example this massive, traditional place is listed for $680,000. - EDIT I thought it was $68,000.
The wood work is reminiscent of Japanese shrines & temples as are the property grounds.
The home was built in 1925 and has 6 large rooms. The people who built this home were obviously wealthy. It's a beautiful place and I would love to live in it and take care of it. I'll tell you what, if I can get this post to $68,000 I will offer everyone a free weekend stay anytime you come visit Japan! I'll even toss in some authentic Japanese meals for free!
(source for photos is the link below)
https://www.inakakurashi.jp/listall/bukken/details/?id=990GA0005602457
If you really want to go wild how about this ryokan(inn) for about $90,000. It literally sits right on a ski slope just outside of Nagano.
Wouldn't it be great to wake up in the morning, say I think I'll go boarding today, open the front door and you're on the slope!
The inn comes complete with a full service kitchen for your American guests(fat joke).
It's also big enough that you can put the kids in rooms down on one end where you can't hear them or they can't hear you 😉😘.
(source for photos is link below)
https://www.inakakurashi.jp/listall/bukken/details/?id=990GA6619200174
During my research I've found out why so many places are so cheap though. It's not only that the demand is lacking, but from the 50's to late 70's the economy was so hot homes were being built left and right as fast as they could. What that meant was inferior construction methods and materials were often used. For me this isn't too big a concern as I could easily go in, retrofit, add steel, etc. to modernize a home. In fact, I would look forward to doing that, unless of course I could find an old, traditional style home that didn't need it.
Here's a good fixer upper for about $70,000 in southern Nagano prefecture.
(source - https://www.inakakurashi.jp/listall/bukken/details/?id=990GA0012100366)
The exterior and the entrance(genkan) are fine, but the interior is .... dated.
(source - https://www.inakakurashi.jp/listall/bukken/details/?id=990GA0012100366)
Nothing some wainscot & paint couldn't spice up!
The bathroom will definitely need an upgrade...
(source - https://www.inakakurashi.jp/listall/bukken/details/?id=990GA0012100366)
How about panelling w/mirrors straight out of Paris!
The kitchen's gotta go too.
(source - https://www.inakakurashi.jp/listall/bukken/details/?id=990GA0012100366)
Maybe add a small island?
Lot's of potential for this house. Now to convince my wife it'll be fun having the house torn apart for several months as we make it our own.
Well, back to the grind. Gotta make $$ if I want to pick up one of these places for cheap.
If you buy a place you never know whether you can sell it again in the future. Especially in the country, as there seems to be very low demand for older places. As you said, people here tend to go for modern homes, but if I was able to choose I would go for some traditional farming house. more rooms and space and maybe some yard or garden. but I am not sure where the future will see me, so I will just keep looking and dreaming
Maxin, sorry I missed this response. I'm looking for a place to retire so I wouldn't have any interest in selling, just passing it down to the kids. The problem is location. In my wife's hometown way up in Akita-ken places are dirt cheap, like $20k cheap. The nice thing about that is she knows many people up there. The bad thing is small towns in Japan are full of gossip and problems. At least closer in to a large city you get away from those nosey people.
If I had the choice I'd move down to Kamakura/Enoshima area and enjoy the beach.
BTW I may be up in Niigata in September for a gem and mineral show.