In Japan, akiya refers to an empty house, often abandoned or left uninhabited due to various reasons such as population decline, urbanization, or inheritance issues. These empty houses have become a significant social and economic issue in Japan, particularly in rural areas where the population is aging and declining.
Akiyas can be relatively affordable because they are often sold at a steep discount or given away for free by local governments, property owners, or real estate agents who want to get rid of them quickly. Additionally, the cost of renovation and upkeep for an old, empty house can be quite high, which further decreases their value. In some cases, akiya can be bought for as little as 1 yen, although frequently prices can be comparable to the property prices in other countries.
Keep in mind that purchasing and renovating an akiya can be a complex process, as there may be legal and financial issues to address, such as unpaid property taxes or inheritance disputes. Additionally, many akiya are located in rural areas, which may not be convenient for those who prefer to live in urban areas. Despite these challenges, the Japanese government has been actively promoting akiya revitalization projects to encourage more people to invest in these empty houses and help address the country's housing shortage.
Akiyas can be found for sale through a variety of channels:
1. Akiya banks: In an effort to revitalize rural areas, some local governments have established "akiya banks", which are essentially databases of vacant homes for sale. 2. Real estate agents: Many real estate agents in Japan also deal with vacant homes. 3. Online listings: There are various online real estate websites that specialize in vacant homes. 4. Local newspapers: Some local newspapers in Japan have classified ads for vacant homes.
While these sources can provide a variety of options, it can be difficult and time-consuming to sort through them all. AllAkiyas.com offers you all listings in a single place, translated into English, French or Spanish, so that it is easier for buyers to browse and compare different properties. Out website is a comprehensive ressource for those interested in purchasing a vacant home in Japan, regardless of their location or familiarity with the local real estate market.
Renovation costs: Many akiyas have been unoccupied for a long time, which means they may require significant renovation and repair work before they are livable. This can be expensive and time-consuming, especially if you are not familiar with the local building codes and regulations.
Location: Akiyas are often located in rural areas or in towns that are experiencing depopulation. While this can offer a quieter and more peaceful lifestyle, it can also mean limited access to amenities such as public transportation, schools, and medical facilities.
Property taxes: Even if an akiya was purchased at a low price, the property taxes can still be high. It is important to research the local tax laws and regulations before purchasing any property.
Legal issues: The legal process for purchasing a property in Japan can be complex, especially for foreigners. It is important to work with a trusted real estate agent or lawyer who can guide you through the process and ensure that all necessary documentation is in order.
Resale value: Akiyas can be difficult to sell in some areas, especially if they are in locations with limited demand. This means that if you plan to resell the property in the future, you may have a harder time finding a buyer.
Yes, foreigners are generally allowed to buy akiyas and other types of property in Japan. However, there are some legal requirements and restrictions to be aware of.
In general, foreign nationals who have not acquired permanent residence status in Japan are only allowed to own real estate for investment purposes, such as renting out the property rather than using it as their primary residence.
To purchase a property for residential purposes, non-residents must first obtain a certificate of eligibility (COE). This involves submitting an application to the Japanese embassy or consulate in your home country, along with a variety of supporting documents. The process can take several weeks or even months, so it's important to plan ahead.
Property ownership in Japan does not automatically grant residency or the right to work in the country. Foreigners who wish to live and work in Japan must obtain the appropriate visas through the Japanese government.
The cost of renovating an akiya can vary greatly depending on the condition of the house and its size. Generally, a full renovation can cost anywhere from 3 million to 10 million yen or more.
Some of the typical renovation challenges include:
Building codes and regulations: Japan has strict building codes and regulations that must be followed when renovating a home. This can add additional costs to the renovation process, especially if major structural changes are needed.
Age and condition of the house: Many empty houses in Japan are quite old and may have been left unoccupied for a long time. This can lead to issues such as water damage, pest infestations, and other structural problems that need to be addressed before renovation work can begin.
Limited space: Houses in Japan are often smaller than those in other countries, which can make it challenging to plan and execute renovations. Efficient use of space is essential.
Finding skilled workers: Japan has a shortage of skilled workers in the construction industry, which can make it difficult to find reliable workers to handle the renovation work.
Cultural considerations: Japanese homes often have unique cultural elements such as tatami flooring, shoji screens, and traditional wooden beams. These elements can be challenging to work with and may require specialized knowledge and skills.
While there are many areas in Japan where you may be able to find an affordable akiya, some areas are better known for this than others. Here are a few options to consider:
Nagano Prefecture: This region has a high number of akiya due to the aging population and depopulation of rural areas. Tohoku Region: The Tohoku region, located in the northern part of Honshu island, is known for its natural beauty and affordable akiya. Hokkaido: Hokkaido is the northernmost island of Japan and has a low population density. Shikoku Island: Shikoku Island, located in western Japan, has many depopulated areas with affordable akiya.
Condition: Akiyas are often in poor condition due to their abandonment and neglect, while regular homes are typically well-maintained. This means that purchasing an akiya often involves significant renovation work and additional expenses to make it habitable.
Price: Akiyas are typically priced lower than regular homes due to their condition and the fact that they may have been on the market for a long time. However, renovation costs can add up quickly, making the total cost of an akiya purchase similar to or even higher than a regular home purchase.
Availability: Akiyas are more widely available in rural areas and small towns, where depopulation has led to a surplus of abandoned homes. In urban areas, akiyas may be more difficult to find, and when they do become available, they tend to be in high demand.
Legal issues: Akiya purchases can involve legal issues that are not present in regular home purchases. For example, some akiyas may have multiple owners, making it more difficult to transfer ownership. Additionally, akiyas may have unpaid taxes or debts attached to them, which can create legal complications for the buyer.
Local government support: Local governments in Japan often offer incentives to buyers who purchase and renovate akiyas to revitalize their communities. These incentives are not typically available for regular home purchases.
Property Acquisition Tax: When you buy a property in Japan, you are required to pay a property acquisition tax. The tax rate varies by location, but it is typically around 3% to 4% of the property's assessed value.
Property Tax: As a property owner in Japan, you are also required to pay an annual property tax. The amount of tax you pay is based on the assessed value of the property and the local tax rate.
Income Tax: If you decide to rent out your akiya to tenants, you will need to pay income tax on the rental income you receive. The income tax rate for rental income is typically around 20% to 30% of your net rental income.
Capital Gains Tax: If you sell your akiya for a profit, you will need to pay capital gains tax on the sale. The tax rate for capital gains is 30% for non-residents of Japan, and 15% for residents.
Inheritance Tax: In the event of your death, your akiya may be subject to inheritance tax. The inheritance tax rate in Japan is progressive and can range from 10% to 55% depending on the value of the property and your relationship with the heir.
The Japanese government has implemented various incentives and programs to encourage foreigners to purchase and renovate akiyas (abandoned houses) in Japan. Some of these initiatives include:
Akiya banks: Akiya banks are government-supported initiatives that list akiyas available for purchase in various regions of Japan. These initiatives aim to match prospective buyers with abandoned houses and provides information on renovation options and financing.
Local Government Incentives: Some local governments offer tax breaks or subsidies to encourage akiya purchases and renovations. Foreigners are eligible for these initiatives.
Our listings provide contact information for the real estate agent or governmental office in charge of each property.
If you find that information insufficient, there are several other options available to you. You can search online for real estate companies specialized in akiya purchases. Check their websites, reviews, and social media pages to get a sense of their services, experience, and reputation. Please note that, in Japan, real estate agents must be licensed by the government. Check the agent's or company's license number and make sure it's valid.
If you have friends or if you know other expats who have already purchased a property in Japan you might want to ask them to recommend you a trustworthy real estate agency. Online expat groups or forums can be good ressources for this.
If possible, work with a bilingual agent: Working with a bilingual agent can help you navigate the language and cultural barriers you might encounter during the akiya purchasing process. Look for agents who are fluent in both your language and Japanese.