Background of Growing Interest in Vacant Houses and Their Appeal
Recently, there has been growing interest in vacant houses both domestically and internationally in Japan. Particularly in rural areas and older properties in need of renovation, these houses are often considered to have low market value. However, as the population declines and the number of vacant houses increases, these properties have become an attractive option for a new group of buyers looking to avoid overcrowded urban areas.
According to the 2018 Housing and Land Statistics Survey, approximately 8.5 million vacant homes existed across Japan, accounting for about 14% of all residential properties. Experts suggest that the number is continuing to rise, with projections indicating that by 2033, vacant houses could exceed 30% of all residential properties.
Why Vacant Houses Attract Foreign Buyers
Although vacant houses are often seen as having low purchase value, they are attracting the attention of buyers worldwide. The following factors explain their appeal.
- Attractive Pricing
One of the main features of vacant houses is their low price, making it easier for buyers to purchase properties with cash. Particularly with the depreciation of the yen, foreign buyers find it easier to make a purchase.
- DIY as a Hobby
The DIY culture, especially popular in Western countries, is also a key factor driving the interest in vacant houses. Many vacant homes require renovation, which appeals to buyers who enjoy “revitalizing a house with their own hands.” It offers an opportunity for creative expression and personal satisfaction.
- The Appeal of Vacant House Businesses
In recent years, the Airbnb and short-term rental market has seen rapid growth, creating a rising demand for vacant houses to be converted into new accommodation facilities. Renovating a vacant house into a charming guest house can generate stable income and contribute to local revitalization. With relatively low initial investment, this business is expected to continue growing in the future.
