News On Japan

Japan has millions of cheap abandoned homes. Here's what to know before you buy one.

Aug 05 (Insider) - Japan has millions of abandoned houses in the countryside, and the country is struggling to fill them.

With the population in Japan shrinking and Japanese buyers vastly preferring new over used homes, older homes are often abandoned when owners die or younger generations refuse to inherit them. Sitting empty, these homes can fall into disrepair.

In an effort to revitalize rural areas and attract buyers, some regional governments are subsidizing renovations and offering these akiya — the Japanese term for "empty house" — for around $25,000 for sale or auction, and sometimes for as little as $500.

These houses can be found listed in "akiya banks," pages operated by local governments as part of a program launched by Japan's Ministry of Land, Infrastructure, Transport and Tourism (MLIT). The Japanese government estimated in 2018 that there were nearly 8.5 million abandoned homes in the country. Akiyabanks.com, a website with information in both English and Japanese, provides a collective directory of all known municipal akiya banks in Japan. ...continue reading

News On Japan
POPULAR NEWS

Demolition work on a nearly completed ten-story apartment building in Kunitachi, Tokyo, which obstructed the view of Mount Fuji, began last week, seeking to restore the once picturesque view from the 'Fujimidori' shopping street extending from JR Kunitachi Station.

Operations on the Tokaido Shinkansen between Nagoya and Hamamatsu stations remain suspended following a derailment involving a maintenance vehicle.

Japan experienced a scorching heatwave over the first weekend of summer vacation, with temperatures soaring from Okinawa to Hokkaido. Despite comprehensive heatstroke measures at festivals, numerous incidents were reported.

A junior high school girl drowned on Sunday while trying to save her younger sister at a beach in Saka Town, Hiroshima.

Tsutomu Shirosaki, a former member of the Japanese Red Army, who was serving time for his involvement in the 1986 attack on the Japanese Embassy in Indonesia, died on the 20th of July at the age of 76.

MEDIA CHANNELS
         

MORE Business NEWS

The average price of new condominiums in Tokyo's 23 wards for the first half of this year was 108.55 million yen, marking the second consecutive year that prices have exceeded 100 million yen.

The demand for advanced semiconductors, driven by AI technology, is rapidly increasing, creating high expectations for Japanese semiconductor material manufacturers. We spoke with Takahashi, CEO of Resonac, a leading manufacturer in semiconductor materials, about Japan's competitive advantages.

McDonald's Japan announced that approximately half of the stores affected by a register malfunction on Friday have resumed operations.

Japan's nationwide consumer price index (CPI) for June, which measures the price movement of goods and services consumed at home, rose by 2.6%.

Trying to solve the problem of finding a successor, a historic natto producer was taken over, only to have its funds siphoned off in a scam that is becoming increasingly common in Japan.

Japan's third largest newspaper company, the Mainichi Shimbun, announced on Wednesday that it would cease newspaper deliveries in Toyama Prefecture by the end of September this year. Currently, only the morning edition is being published in Toyama, with the estimated circulation falling to 840 copies in 2023.

Panasonic Holdings plans to sell its commercial large projector business to Orix for around 100 billion yen ($633 million). Panasonic's commercial large projectors were used during the opening and closing ceremonies of the 2021 Tokyo Olympics and are scheduled to be used in the upcoming Paris Olympics starting next week.

Toyota announced that it will continue to halt the production of three models beyond August due to a certification fraud issue affecting mass production of automobiles.