Japanese Government Is Selling Houses for $500 to Populate The Rural Area

Did you know that there are more than 8 million empty homes in rural Japan being sold at very low prices?

Here is an empty property located in Tochigi, a prefecture north of Tokyo. This house is one of the 8 million homes that need occupants.

Key Points to Note:

• Over 8 million empty homes are waiting to be occupied, according to the Japanese government.
• Local authorities offer free houses and renovation subsidies as incentives for move-ins, making it a lucrative offer to attract new residents.

Several regions in Japan provide “Akiya banks” that list vacant homes available for sale, making it easier for people to find properties.

Did you know that some vacant homes in Japan are being given away almost for free? Yes, it’s true! The Japanese government is offering financial incentives, such as free properties and sizable renovation subsidies, to attract homeowners and occupants to its millions of “Akiya” (empty homes).

Every five years, Japan’s Housing and Land Survey conducts a study to determine the number of vacant homes. The 2018 survey revealed that approximately 8.49 million homes in Japan were unoccupied. This increase is largely due to Japan’s aging population and a tendency for people to leave their homes and relocate. This data has been essential in analyzing the growing number of vacant homes in the country.

Here is a picture of a vacant traditional house in Kamakura, outside of Tokyo. A property manager can be seen opening the window of the empty home. In prefectures like Wakayama, Tokushima, Kagoshima, and Kochi, the vacancy rates are over 18%.

Nationwide, 13.6% of Japan’s 62.42 million homes were found to be unoccupied. Prime Minister Yoshihide Suga has made rural revitalization a cornerstone of his socioeconomic policies. Upon taking office in September, Suga pledged to stimulate rural economies by promoting tourism and encouraging agricultural reform.

Interested in occupying a free house?

To make it easier for people to find vacant homes, cities like Tochigi and Nagano have established ‘Akiya banks’ that list empty homes for as low as 50,000 yen ($455).

In the town of Okutama, located in western Tokyo, some aging and vacant buildings are even given away for free. These properties have been converted into workshops and eateries, helping both the previous owners, who struggled with maintenance and taxes, and the town, by reducing the number of abandoned buildings that pose future risks.

This program helps clear abandoned buildings and assists homeowners with paying their taxes, according to the Okutama government office. Provincial governments have discovered that offering financial incentives is one of the best ways to attract remote workers to these vacant homes.

In the northern prefecture of Hokkaido, the city of Mikasa saw an 11% reduction in the number of vacant homes after introducing subsidies for child and home purchases. Additionally, the town witnessed fewer vacant properties when the local government offered 2 million yen to those renovating certain houses listed in their database.

In September, a new program was announced that offers remote workers in Tokyo a 1 million yen ($9,114) cash grant for working in the countryside. Furthermore, those who set up IT businesses in rural Japan can apply for a grant of 3 million yen ($27,343).

What’s Trending Globally?

As a strategy to repopulate, the southern Italian town of Cinquefrondi has started selling houses for just 1 euro. Wow! That’s incredibly cheap. Even in the U.S., people are being offered thousands of dollars and, in some cases, free land to relocate. This was reported by Insider’s Taylor Borden and Libertina Brandt. The problem of vacant homes is not exclusive to Japan.

In Cinquefrondi, homes are being sold for just 1 euro ($1.14) to boost the town’s population. Another town, Locana, offered a similar deal with an added cash incentive of 9,000 euros ($10,971) to remote workers with children.

Why not grab a home in rural Japan today?