Japan anticipates that falling birth rates and negligible immigration will result in population decline—as much as 1m a year. Millions of homes are already empty, reports Nomura Research, with a million in bad shape.
It is, on one hand, an unprecedented social problem. Whereas countries such as the UK are suffering a terrible housing shortage, Japan's government has just passed a new law to tackle the glut of abandoned, decaying houses.
On the other hand, the akiya are an opportunity — and not just a business opportunity, but a chance to reimagine Japan's postwar culture of disposable housing and suburban sprawl. The akiya are a symbol of decline, yes, but they may also be the path to a better future. …
"Our buyers are people who want a good house at a low price," says Arai. "Perhaps they're a first-time buyer in their thirties, living in a rented apartment, and their neighbours complain about the children's noise. The houses we sell are often cheaper than renting — they cost Y30,000 or Y40,000 a month."
"We see about 10 houses for each one we buy," he says. "About half of those we reject [because] we can't agree on price. For others, it's because the structure is not sound, or it's just too far out in the countryside. In some marginal villages the demand is basically zero."
