Vacant Houses Are Being Given Away for Free in Japan
There are more than 8 million vacant homes in Japan, so many that in some cases they are being given away for free. According to a 2016 report from the Nomura Research Institute, the number of vacant homes will increase to over 21 million by 2033, which would be about 30 percent of all homes in the country.
Many towns have started advertising vacant homes on websites known as “akiya banks,” where the word akiya means “vacant house.” Some akiya are offered at very low prices, while others cost nothing except for some small fees and taxes that must be paid when a house is bought.
Some vacant houses are also being offered with very cheap rent, with people gaining ownership of them after renting for a certain amount of time.
There are many reasons for the increasing number of vacant homes in Japan. One is that more and more Japanese people are moving from small towns to big cities, which leaves many vacant houses in rural areas.
Another reason is Japan’s aging population. The country has only 8 births for every 10 deaths, which means the population could drop by about 25 million by 2050.
There is also a stigma in Japan against old houses, especially if a person has died there. “It’s common to find places … that go unoccupied after the owner passes away,” according to Yuken Kon, who specializes in selling houses with bad reputations.
Japanese houses are also not expected to last a long time. They are usually considered worthless after just 30 years, not including the value of the land. So in addition to setting up akiya banks, some towns are trying to reduce the number of vacant homes by offering subsidies to help people renovate old homes.
