These Houses in Rural Japan are on Sale for Just $500
Would you live in a so-called “ghost village” if you only had to pay $500 for a house" Here in the United States, you can barely even get a studio apartment for that price. So why are these akiya (unoccupied homes) selling for such a bargain in Japan"
While the U.S. housing market has only gotten hotter as of late, in Japan negative population growth, combined with mass migration to urban areas, has created a housing vacuum, resulting in a rural vacancy rate of approximately 16 percent, according to a May 2021 report from the Organization for Economic Cooperation and Development.
According to Japan’s most recent Housing and Land Survey from 2018, the result of this rural vacancy rate is about 8.49 million akiya — perfectly normal rural homes that exist in empty neighborhoods often referred to as “ghost villages.”
Local governments have been trying to incentivize buying these properties in order to boost rural populations. Officials believe that repopulation efforts (such as the low price tag) will ultimately help to revitalize these rural areas and eventually lead to a possible national economic boon. Japanese Prime Minister Yoshihide Suga began his term in office with an urgent mandate seeking to bridge the country’s urban-rural divide. Subsequently, many regional areas are responding by offering everything from subsidies for home renovations to tax breaks for those who purchase akiya.
Recently, another strategy has bee...
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dornob
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