J
apan is facing a unique problem - an oversupply of empty houses known as "akiyas." According to official government data, there are over 9 million abandoned homes across the country, many of which have been left vacant for decades. These properties can be found in both rural areas and big cities, offering a rare opportunity for buyers with creative ideas.

    The rise in abandoned houses is largely due to Japan's population crisis, with a record-low fertility rate of 1.2 births per woman as of 2023. The elderly population continues to increase, leading to a surplus of housing stock. Urban migration has also contributed to the issue, as younger generations move to cities for work, leaving rural areas with aging populations who may be unable or unwilling to maintain their homes.

    Locals often view abandoned houses as a burden, and even inheritors are reluctant to use or sell them due to concerns over safety issues, high renovation costs, and superstition. As a result, many of these properties remain vacant, waiting for buyers willing to take on the challenge.

    However, Japan's akiyas are gaining attention from overseas buyers, particularly those seeking second homes, vacation properties, or renovation projects. The pandemic and remote work trends have driven interest in Japanese real estate, with some buyers looking to capitalize on the country's affordable housing market.

    Take Anton Wormann, a 32-year-old content creator and real estate investor who owns seven akiyas in Japan. He fell in love with the country after visiting for work and discovered that buying homes was more accessible than in other countries he had lived in. With careful research and renovation, Wormann's properties now generate significant revenue through short-term rentals.

    Experts caution that investing in akiyas requires a deep understanding of Japanese culture, language, and people. While they can be a good investment for certain groups, such as hobbyists or DIY renovators, they may not be ideal for institutional investors seeking quick returns due to high renovation costs and limited resale potential.