Buying a Cheap Japanese House - FULL Akiya Documentary

Summary

This video guides viewers through the process of buying an akya, or abandoned house, in Japan, highlighting the significant fees involved and the potential for renovation. With Japan facing a decline in population, akya properties are increasingly viewed as opportunities for community revitalization. The buyer, itan, collaborates with real estate agent Hagin to navigate the purchase of a house for 950,000 yen, along with additional costs. The renovation transforms the home into a stylish Scandinavian-Japanese space, illustrating how forgotten houses can be repurposed to benefit local economies and communities.

Takeaways

• 🏠 Akya refers to abandoned houses in Japan, which are increasingly common due to urban migration and an aging population.
• 📊 Japan has nearly 10 million empty houses, and this number is expected to rise to 22 million by 2033 due to demographic shifts.
• 💰 The featured akya was purchased for 950,000 yen (about $88,000), with total costs rising to approximately 1.2 million yen after additional fees.
• 📝 The purchase process involves signing a contract and using a personalized ink stamp (inkan) for identification.
• 🏗️ Renovations transform akya into modern living spaces, with design influences from Scandinavian and Japanese styles.
• 📉 Investing in akya involves a strategy of buying low, renovating affordably, and renting for profit.
• 🔑 Annual property taxes based on the house's taxable value are estimated to be around 21,000 yen.
• 🏢 Real estate agents in Japan often prefer not to sell cheap akya due to the extensive work involved for minimal commission.
• 🌍 Revitalizing akya can positively impact local communities by creating spaces for gatherings, hotels, and cafes.
• 📚 For those interested in akya investment, resources like Akya Academy provide valuable insights and support.

Q & A

What is an akiya?

An akiya is an abandoned house in Japan, typically unoccupied due to various factors like migration to cities and complex family ownership rules.

Why are akiya becoming more common in Japan?

Akiya are becoming more common due to Japan's declining birth rate and aging population, leading to a significant number of empty homes.

What were the total costs associated with buying the akiya in the video?

The total costs for the akiya purchased in the video amounted to about 1.2 million yen, which includes the purchase price and additional fees.

What fees are typically associated with purchasing an akiya?

Typical fees include a real estate agent fee (around 3.3% of the sale price plus a fixed fee), a legal scrier fee, and annual property taxes.

How does the process of buying an akiya differ from purchasing a more expensive property?

Buying an akiya usually involves lower upfront costs, and real estate agents may be less inclined to sell these cheaper properties due to the lower commission.

What renovation approach did the new owner take for the akiya?

The new owner utilized a DIY approach for renovations, which kept costs low while updating the house to modern standards.

What is the expected return on investment (ROI) for the renovated akiya?

The new owner is projected to achieve an ROI of approximately 40%, indicating a profitable investment strategy.

What future plans did the new owner have for the renovated akiya?

The new owner plans to rent out the renovated property, contributing to the local economy and revitalizing the community.

What is the significance of the declining number of inhabited houses in Japan?

The decline in inhabited houses presents both challenges and opportunities, as abandoned homes can be renovated and repurposed to support local communities.

Where can viewers find more information about investing in akiya?

Viewers can visit akiyaacademy.com for more information on investing in akiya properties in Japan and to read the host's book on the subject.