Buying a Cheap Japanese House - FULL Akiya Documentary

ANTON IN JAPAN /
5 Feb 202425:54

Summary

TLDRThis 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.
  • πŸ“Š Japan has nearly 10 million empty houses, and this number is expected to rise to 22 million by 2033 due to demographic shifts.
  • πŸ’° 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.
  • πŸ“ The purchase process involves signing a contract and using a personalized ink stamp (inkan) for identification.
  • πŸ—οΈ Renovations transform akya into modern living spaces, with design influences from Scandinavian and Japanese styles.
  • πŸ“‰ Investing in akya involves a strategy of buying low, renovating affordably, and renting for profit.
  • πŸ”‘ 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.
  • πŸ“š 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.

Outlines

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Related Tags
Akiya InvestmentJapan Real EstateHome RenovationCultural InsightsDIY ProjectsCommunity DevelopmentReal Estate FeesScandinavian StyleChibaUrban Renewal