The reason why houses in Japan sell for less than $4,700: “Buying as a foreigner is easy”
In Japan, foreigners can buy houses for extremely low rates. In some cases, they could even get free housing. Here’s what’s going on with their housing.
Housing affordability is a growing issue across much of the developed world. Overcrowded cities, soaring prices and job markets concentrated in a handful of urban hubs have made buying a home increasingly difficult. Then there’s Japan.
Why Japan offers cheap - even free - housing to foreigners
While the country has become a booming destination for international travelers, it also has what some call “empty Japan”: rural and semi-rural areas filled with abandoned or semi-abandoned homes. Many of these properties once belonged to owners who passed away without heirs, and they’re now being sold at strikingly low prices.
In some cases, they’re free. Yes, free. Others are listed for as little as $4,700, and even properties with surrounding land can cost under $24,000.
These aren’t derelict shells. Many are move-in ready homes in quieter, remote areas, with bedrooms, kitchens, farmland and everything you’d expect from a traditional house, but at a fraction of what buyers are used to paying in most international markets.
In Japan, these properties are known as akiya - vacant homes left behind after their owners die, often without heirs to claim them. Rather than letting them deteriorate, municipalities are trying to put them back into use. Most are located in small towns or rural communities, far from major cities, but the price can be virtually zero.
Depending on the region, prices in rural or semi-urban areas typically range from around $6,000 to $23,500, still remarkably affordable by global standards and potentially appealing for anyone dreaming of a radical lifestyle change. If you’ve seen rural areas in your own country, imagine experiencing that life in a place as culturally distinct as Japan. For some, it’s a dream scenario.
There are, of course, important caveats.
Buying a property does not grant you a visa, and Japanese banks generally do not finance these homes, so purchases must be made in cash. There are dedicated websites listing available properties, including homes currently offered at no cost, as well as others priced at $20, $50 or $70. Some listings even advertise 200-square-meter apartments for around $390.
For adventurous buyers willing to navigate the logistics, Japan’s akiya market offers one of the most unusual real estate opportunities in the world.
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