{"id":1795,"date":"2018-11-29T08:28:08","date_gmt":"2018-11-29T08:28:08","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=1795"},"modified":"2021-06-04T14:11:44","modified_gmt":"2021-06-04T07:11:44","slug":"japan-is-so-full-of-empty-homes-that-its-giving-them-away","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/japan-is-so-full-of-empty-homes-that-its-giving-them-away\/","title":{"rendered":"Japan is so full of empty homes that it\u2019s giving them away"},"content":{"rendered":"<p><strong>If you&#8217;re lucky, the government would be willing to subsidise repairs of these unwanted assets<\/strong><\/p>\n<figure id=\"attachment_1796\" aria-describedby=\"caption-attachment-1796\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1796\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/Japan-is-so-full-of-empty-homes-that-it\u2019s-giving-them-away.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Japan-is-so-full-of-empty-homes-that-it\u2019s-giving-them-away.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Japan-is-so-full-of-empty-homes-that-it\u2019s-giving-them-away-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Japan-is-so-full-of-empty-homes-that-it\u2019s-giving-them-away-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1796\" class=\"wp-caption-text\">A traditional Japanese home with tatami mats. Interior Blender 3D\/Shutterstock<\/figcaption><\/figure>\n<p>The Japanese government is disposing of its\u00a0surfeit of &#8220;akiya&#8221;, or properties left vacant for protracted periods of time, at steep discounts, if not offering them for free.<\/p>\n<p>Such units usually entice otherwise\u00a0reluctant buyers to shell out anywhere between JPY500,000 and JPY20 million (USD4,428.50-177,140), according to\u00a0<a href=\"https:\/\/www.cnbc.com\/2018\/11\/22\/japan-free-homes-empty-houses-given-away-and-sold-cheap.html\" target=\"_blank\" rel=\"noopener noreferrer\">CNBC<\/a>. Local governments, including the Tochigi and Nagano prefectures, are even willing to subsidise repairs of the fixer uppers.<\/p>\n<p>Akiya banks\u00a0or online databases of\u00a0empty houses are sprouting in many regions. One website listed several homes for free, exclusive of agent commissions, fees and other levies, CNBC noted.<\/p>\n<p>By 2033, abandoned dwellings in Japan could grow to 21.7 million units, accounting for a third of all homes, research by the Nomura Research Institute showed via\u00a0<a href=\"https:\/\/www.japantimes.co.jp\/news\/2017\/12\/26\/national\/japans-glut-abandoned-homes-hard-sell-bargains-opportunity-knocks\/\" target=\"_blank\" rel=\"noopener noreferrer\">The Japan Times<\/a>.<\/p>\n<p>&#8220;These abandoned homes are toxic assets \u2014 they&#8217;re costly to maintain or to tear down,&#8221; Munekatsu Ota, head of Rakuten Lifull Stay Inc, a vacation rental firm, told the Times. &#8220;But a simple renovation could turn them into moneymakers.&#8221;<\/p>\n<p>Almost a fourth of more than eight million unoccupied properties across the archipelago are deserted indefinitely, meaning they are neither for sale nor rent, a 2013 government report showed.<\/p>\n<p>More than one in 10 homes were empty in Tokyo alone, as of last year.<\/p>\n<p>Such figures could only increase as Japan\u2019s birth rates dwindle while its senior population expands. The populace is poised to drop from 127 million to 100 million by 2050 \u2014 a &#8220;<a href=\"https:\/\/www.mnn.com\/lifestyle\/arts-culture\/blogs\/japans-vacant-housing-crisis-sparks-giveaway\" target=\"_blank\" rel=\"noopener noreferrer\">demographic time bomb<\/a>,&#8221; experts say.<\/p>\n<p>Empty homes also tend to be stigmatised and deter buyers for being sites of suicide, murder or \u201clonely deaths.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you&#8217;re lucky, the government would be willing to subsidise repairs of these unwanted assets<\/p>\n","protected":false},"author":2,"featured_media":19883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-report","news_country-japan","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Japan is so full of empty homes that it\u2019s giving them away | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/japan-is-so-full-of-empty-homes-that-its-giving-them-away\/\" \/>\n<meta property=\"og:locale\" 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