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

Four Japanese Crew Members Disembark in Persian Gulf, 16 Remain

Four more Japanese crew members have disembarked from Japan-related vessels staying in the Persian Gulf, reducing the number of Japanese nationals still aboard ships in the area to 16.

Japan's Answer to Dangerous Sewer Pipes

Road cave-ins are occurring one after another across Japan. According to a survey released on April 22 by the Ministry of Land, Infrastructure, Transport and Tourism, so-called dangerous sewer lines requiring urgent countermeasures now total 748 kilometers nationwide.

Japan to Allow Overseas Sales of Lethal Weapons

The Japanese government on April 21 revised the Three Principles on Transfer of Defense Equipment and related guidelines, in principle allowing the export of weapons with lethal capabilities. The move marks a major turning point in Japan's postwar security policy.

Earthquake Strikes During Rescue Operation

Footage released by the Nagano Prefectural Police mountain rescue unit captured the moment an earthquake struck during an operation to save two climbers who had fallen on a steep slope of Mount Shirouma in the Northern Alps.

Japan Gov't Warns of Possible Megaquake

Japan's weather agency and the Cabinet Office issued a 'Hokkaido-Sanriku Offshore Subsequent Earthquake Advisory' after an earthquake measuring upper 5 on Japan's seismic intensity scale struck off Sanriku.

MEDIA CHANNELS

MORE Business NEWS

Fuel Shortages From Middle East Tensions May Halt Fishing

Wakayama Prefecture held talks with local fisheries cooperatives after concerns grew that fishing boats may be unable to put to sea because fuel supplies have been disrupted by tensions in the Middle East.

China's Rare Earth Exports to Japan Fall

China's exports of rare-earth magnets to Japan in March fell 17.3% from the previous month to 184 tons, China's General Administration of Customs said on April 20.

Japan Home Prices May Rise 30%

A shortage of naphtha, a key petrochemical feedstock used in a wide range of products, is pushing up the cost of housing materials in Japan and raising concerns that home prices could climb by as much as 30%.

What You Can Do to Avoid Legal Problems in Business

Running a business with integrity and good values is the highest road most owners strive to be on. However, sometimes being good isn’t enough to spare you from legal trouble.

TOTO to Resumes for Unit Baths

TOTO said on April 16 that it will gradually resume new orders for its unit bath products from April 20 after securing a clearer outlook for raw material procurement.

Theme Parks Bet on 25th Anniversary Year

Tokyo’s and Osaka’s flagship theme parks are both marking their 25th anniversaries this year, raising expectations that milestone celebrations could provide a boost to visitor numbers and earnings.

42 Japan-Linked Ships Remain Stranded in Persian Gulf

As tensions in the Middle East continue, 42 vessels linked to Japan remain stranded in the Persian Gulf, raising concerns over supply chains for naphtha, a key raw material used in plastics and coatings, with manufacturers warning that prolonged disruptions could drive up prices for everyday goods and housing materials.

Japan Painting Association Warns of Shortages

The Japan Painting Contractors Association has requested the government to secure stable supplies of materials, warning that concerns over shortages of paint and thinner derived from naphtha have become increasingly severe.

< 2 3 4 5 >