Forget the Cotswolds, savvy Brits are snapping up stunning homes in rural Japan for a fraction of the price!
Japan’s countryside is awash with abandoned homes, known as ‘akiya’, that are going for rock-bottom prices. These properties are often beautiful traditional houses, nestled in picturesque landscapes, and they’re attracting attention from Brits looking for a slice of the good life.
Why are so many houses abandoned?
The story behind Japan’s abandoned homes is a bit sad, really. It’s all down to an ageing population and a shrinking rural economy. With younger generations moving to cities for work, millions of properties are left empty, often inherited by people who can’t afford to keep them up.
Experts say there are over NINE MILLION abandoned homes across Japan.
Bargains for savvy buyers
Paul Christie, whose story is told in The Telegraph, is a Brit who has lived in Japan for over 30 years. He is making a fortune buying up these abandoned properties and renovating them. He’s even been offered some for FREE!
He says: “I’ve been offered houses for free. There was one, but I didn’t want it because it was very inconvenient. [For] another property nearby, a friend basically halved the price and we turned it into a guest house.”
While some of these free houses need a lot of work, Christie says he has bought a handful of houses in decent condition for as little as £15,600! He rents them out to tourists and says they are a great source of income.
Brits are flocking to Japan
The number of Brits living in Japan has been steadily increasing, and the pandemic seems to have fuelled the trend.
Parker Allen, a real estate agent specialising in akiya, says that Japanese buyers don’t see older homes as valuable, making them a real bargain for Brits.
He says: “In the UK, having a house in the countryside is seen as a luxury. The thing that really makes the Japan market different from other markets is that there is a strong preference for new construction.
“If a property is 20 years old and it is a wooden structure, [it] is seen as valueless. A lot of the time you see these properties being sold for the value of the land.”
Allen says that you can find a ready-to-move-in home in Japan for between £25,000 and £150,500. That’s a steal compared to the UK, where you might only get a bedsit for that price in some cities!
Is it all rosy?
While Japan’s abandoned home market offers incredible opportunities, there are a few things to keep in mind:
- Renovations can be costly. While you might get a cheap property, you’ll need to factor in the cost of repairs and upgrades.
- Visa restrictions. As a tourist, you can only stay in Japan for up to 90 days. If you want to live there long term, you’ll need to get a different visa.
- Language barrier. While many people in rural Japan are friendly, the language barrier can be a challenge.
But for those willing to take the plunge, buying an abandoned home in Japan could be the adventure of a lifetime! Just remember to do your research and make sure you understand the risks before you commit.