, Columnist
It’s Too Easy for Foreigners to Buy Property in Japan
Despite the stereotypes, Japan is one of the most permissive places for non-residents to buy property. That’s a problem when locals are being priced out.
Foreign buyers are pushing up property prices in Tokyo.
Photographer: Kosuke Okahara/BloombergA cottage industry has spun up in Japan in the last few years offering abandoned houses, known as akiya, to foreigners.
Many countries have stock of underused housing, though Japan is certainly one of the worst offenders. Since the post-pandemic reopening, there’s been a surge of interest in akiya among those priced out of their markets at home. Buyer beware: Living in poorly insulated, socially isolated dwellings in the countryside can often be less My Neighbor Totoro and more torturous.