Akiya Property all the rage - anyone buying one?

[Bubblegun]

I wondered if this algorithm is just pushing it to us cause we are in Japan or is this a global phenomenon.

I think it is really attractive at the moment because real estate prices in many countries are now at the point where normal people just can't afford to buy a home.

So to see a 'free' house in Japan that would cost 20x your annual salary where you live is fascinating. Most people watching will never even visit Japan, let alone buy a house here, but it's kind of like daydreaming about winning the lottery I guess

　omg it sounds like real estate porn. lol.
But you’re totally right. Homes in many countries were/are seen as “investments” or should I put more emphasis on “a speed investment” where even the pumping up of prices by governments only made it worse. And pushing up prices by 10s of thousands a year, just seemed like “greed” on steroids. But was it just an illusion. Only to get the real gains when you come to retirement and down grade, releasing the capital in the property or having to sell it to fund your nursing home care.

[Deep Blue]

There is a reason people or local governments can’t give these properties away. If I decide to retire to the countryside I’ll find or build a nice modern, energy efficient house with some land in a place I choose to live.

Most Japanese houses are not built to last more than two of three decades and it shows….

[TokyoSurvivor]

There is a reason people or local governments can’t give these properties away. If I decide to retire to the countryside I’ll find or build a nice modern, energy efficient house with some land in a place I choose to live.

Most Japanese houses are not built to last more than two of three decades and it shows….

Very true. When I first came to Japan many moons ago I had the mindset of the UK where we often by an older property and "do it up".
I soon learnt that that same philosophy does not really transfer to Japan, especially when winter came!

For me to go for one, it has to really stand out. I think there's a lot of bad investments out there and as with all property it's all about location, but even more so in these.
Those with "rebuildable" status will obviously make a big difference investment wise. If not it would have to be a location that is very special to overlook that.

[Bubblegun]

There is a reason people or local governments can’t give these properties away. If I decide to retire to the countryside I’ll find or build a nice modern, energy efficient house with some land in a place I choose to live.

Most Japanese houses are not built to last more than two of three decades and it shows….

Very true. When I first came to Japan many moons ago I had the mindset of the UK where we often by an older property and "do it up".
I soon learnt that that same philosophy does not really transfer to Japan, especially when winter came!

For me to go for one, it has to really stand out. I think there's a lot of bad investments out there and as with all property it's all about location, but even more so in these.
Those with "rebuildable" status will obviously make a big difference investment wise. If not it would have to be a location that is very special to overlook that.

That is true. I think it depends on the area, and the mindset of the owners. Some homes are 30, 40 plus years old and are pretty well taken care of. New floors, windows, new kitchens, new toilets, wallpapered. But others just haven't had any work done to them at all. Some homes in the UK/US.EU and others are over a hundred years old, as are some building in Japan.

It kinda reminds me of trigger from only fools and horses when he got the medal for his broom." Look after your broom!" So. maybe Trigger ain't so daft after all. So i wonder if the moral of the story is........ we need to be more like Trigger. LOL


<iframe width="560" height="315" src="https://www.youtube.com/embed/56yN2zHto ... UPUF4b7bJH" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

https://www.youtube.com/watch?v=56yN2zHtofM

[Moneymatters]

As I'm sure you''ve noticed in a world where property prices have generally gone through the roof (sorry), it's no surprise people from all over the world are showing an increasing interest in Japan's estimated 10 million vacant properties being sold off on the cheap.

Obviously there's no such thing as a free lumch, and akiya houses come with all kinds of things to deal with.

So, has anyone taken the plunge bought one?

Any tips/ regrets etc?

Been looking for a decade but always with a view to having time/energy (and in my case mental energy) to invest into a renovation project.
I've actually stopped looking at akiya-banks. To me they seemed to hold the worst of the worst although that could be a kanto bias and those banks may hold gems elsewhere.
One thing I've found is the aesthetic of rural properties does not match my western sensibilities.

Me: Oh. I'll just grab some place with a nice view and hopefully one broad aspect i can use as a canvas to paint my dreams.
JRE*: We have this compact house concealed by dense woodland on all four sides to protect you from marauders. It has the smallest windows we could get away with and divided into so many rooms you'll be surprised not to find cheese behind one of the doors. And obviously no bathroom on the second floor as those were illegal until 2004.
Me: I'll keep looking then..

*Japan Real Estate. (I just make up abbreviations now as i think that's what the ROTW does.)

Right now it's 50-50 if I'll buy land and build or not. The amount will vary greatly by region but I'd argue for older rural properties(Think septic tank) any place less than around 15 mil probably doesn't really have demonstrable value.

I'm not responding to other comments but I actually like one of the youtoobers that looks to have mastered Japanese in six months (They recently mentioned they used to live in Japan quite a long time ago..).
Some of them are just buying what I refer to as "houses". Like just a house. In a street. Typically 25 mins walk (uphill both ways) from a station. They offer no visible appeal beyond shelter from the elements. But then again.. It's JAPAN!

And yes.. I am planning to create a YT channel once my project gets off the ground..

I've managed to mostly remove these algorithms from my life....

Don't worry I'll drop updates to your inbox....

[adamu]

Don't worry I'll drop updates to your inbox....

From you, anytime*

*As long as they're wiki edit notifications like the one you graciously made to the health insurance article earlier today.

[TokyoSurvivor]

As I'm sure you''ve noticed in a world where property prices have generally gone through the roof (sorry), it's no surprise people from all over the world are showing an increasing interest in Japan's estimated 10 million vacant properties being sold off on the cheap.

Obviously there's no such thing as a free lumch, and akiya houses come with all kinds of things to deal with.

So, has anyone taken the plunge bought one?

Any tips/ regrets etc?

Been looking for a decade but always with a view to having time/energy (and in my case mental energy) to invest into a renovation project.
I've actually stopped looking at akiya-banks. To me they seemed to hold the worst of the worst although that could be a kanto bias and those banks may hold gems elsewhere.
One thing I've found is the aesthetic of rural properties does not match my western sensibilities.

Me: Oh. I'll just grab some place with a nice view and hopefully one broad aspect i can use as a canvas to paint my dreams.
JRE*: We have this compact house concealed by dense woodland on all four sides to protect you from marauders. It has the smallest windows we could get away with and divided into so many rooms you'll be surprised not to find cheese behind one of the doors. And obviously no bathroom on the second floor as those were illegal until 2004.
Me: I'll keep looking then..

*Japan Real Estate. (I just make up abbreviations now as i think that's what the ROTW does.)

Right now it's 50-50 if I'll buy land and build or not. The amount will vary greatly by region but I'd argue for older rural properties(Think septic tank) any place less than around 15 mil probably doesn't really have demonstrable value.

I'm not responding to other comments but I actually like one of the youtoobers that looks to have mastered Japanese in six months (They recently mentioned they used to live in Japan quite a long time ago..).
Some of them are just buying what I refer to as "houses". Like just a house. In a street. Typically 25 mins walk (uphill both ways) from a station. They offer no visible appeal beyond shelter from the elements. But then again.. It's JAPAN!

And yes.. I am planning to create a YT channel once my project gets off the ground..

I've managed to mostly remove these algorithms from my life....

Don't worry I'll drop updates to your inbox....

Agree with the scepticism on the akiya banks. I bet the good stuff has already been identified by those with "boots on the ground" before going anywhere near those lists, especially in prime spots.

[captainspoke]

Here's a place built in 1900--expensive, but it looks like it's in great shape. It's also a prime location--on a small road used by tourists about halfway between the major market and the geisha district (both major tourist draws). One pic seems to show a well, another shows a couple big tanks/vats, which might have been used to make miso/koji?

Edit--I got the location wrong, but it's still not far from those places.

[TokyoSurvivor]

Here's a place built in 1900--expensive, but it looks like it's in great shape. It's also a prime location--on a small road used by tourists about halfway between the major market and the geisha district (both major tourist draws). One pic seems to show a well, another shows a couple big tanks/vats, which might have been used to make miso/koji?

Edit--I got the location wrong, but it's still not far from those places.

The link seems to be dead. Somebody here snap it up?

[RayC]

Hi! I am new to RetireJapan. This is actually my first post on the forum. I am planning to set up a home base in Japan (within an hour train ride/drive from Urawa, Saitama) in 2025 in order to be closer to family (in-laws) who are getting older. We are currently looking for a used, detached house, including those available in akiya banks. I've been listening to podcasts and watching YouTube videos to learn about these akiyas. There are videos that I consider as exaggerating about akiyas but there are others that give useful information, including for people who who want to own vacation homes and/or operate the short-term rentals (minpaku). So, I am all ears if there is any useful info that anyone can share.