Frequently Asked Questions

Akiya (空き家) literally means "empty house" in Japanese. These are vacant properties found throughout Japan, often in rural areas or small towns. Due to Japan's declining population and urbanization, millions of these homes sit empty and are often sold at significantly lower prices than typical real estate — sometimes under $50,000 USD, or even free through municipal programs.

Yes, foreigners can freely buy property in Japan without any restrictions. Japan is one of the few countries that allows non-residents to purchase real estate with the same rights as Japanese citizens. You do not need a visa, residency status, or Japanese citizenship to own property. However, having a visa or residency can make financing easier if you need a mortgage from a Japanese bank.

Akiya prices vary widely depending on location, condition, and size. Some can be found for as little as $10,000-$50,000 USD, while renovated or well-located properties may cost $100,000-$200,000 USD or more. Some municipalities even offer akiya for free to attract new residents. Additional costs to budget for include property transfer tax (3-4%), agent fees (up to 3% + ¥60,000), registration fees, and potential renovation costs.

The "akiya problem" refers to the growing number of vacant and abandoned houses in Japan. As of 2023, there are approximately 9 million empty homes — about 14% of all housing stock. This is caused by Japan's declining birth rate, aging population, and migration from rural areas to cities. The government actively encourages sales through municipal akiya banks and subsidies, creating opportunities for buyers seeking affordable property.

Akiya banks (空き家バンク) are local government-run databases that list vacant properties available for sale or rent within their municipalities. Each prefecture and city may have its own akiya bank, often with listings not found on commercial real estate sites. Many municipalities also offer renovation subsidies and relocation incentives for buyers who purchase through their akiya bank programs.

While visiting the property in person is recommended, it is possible to purchase remotely with the help of a licensed real estate agent. Agents can provide video walkthroughs, handle inspections, and manage the paperwork process on your behalf. For significant investments, visiting Japan to see the property and surrounding area firsthand is advisable, as photos may not capture issues like nearby noise, access roads, or structural condition.

Foreigners can buy any type of property in Japan, including traditional Japanese houses (kominka), modern homes, apartments (mansions), vacant land, and commercial properties. Popular choices include countryside akiya for renovation projects, ski resort apartments in areas like Niseko or Hakuba, and city apartments in Tokyo or Osaka for rental income.

Annual property tax (固定資産税) in Japan is typically 1.4% of the assessed value, which is usually well below market value. City planning tax adds 0.3% in urban areas. Other ongoing costs may include building management fees for apartments, fire insurance, and maintenance. Rural properties generally have very low annual taxes — sometimes under $500 USD per year.

The typical process involves: finding a property, making an offer through a licensed agent, signing a purchase agreement with a 5-10% deposit, then completing the transfer at a judicial scrivener's (司法書士) office. The entire process usually takes 1-3 months. A licensed real estate agent (宅建士) is required for the transaction, and a judicial scrivener handles the title transfer registration.

Akiya can be excellent value, but require careful evaluation. Advantages include very low purchase prices, large lot sizes, and unique traditional architecture. Risks include hidden renovation costs (roof, plumbing, earthquake reinforcement), remote locations with limited services, and potential difficulty reselling. Properties in tourist areas or within commuting distance of cities tend to hold value better than those in deeply rural areas.