A surge in interest from foreign buyers is reshaping Japan’s market for abandoned homes, known as akiya, as a cottage industry has emerged to facilitate their sale, according to a report.
Japan has long struggled with underutilized housing, but the post-pandemic reopening has intensified demand, particularly among overseas investors priced out of their home markets. While rural akiya purchases raise few concerns, rising property values in urban centers—especially Tokyo—have prompted debate over the ease with which non-residents can buy homes.
With few restrictions on foreign ownership, critics warn that international buyers may be contributing to surging real estate prices. The issue is gaining political traction, with calls for tighter regulations to curb speculative investment and protect affordability for local residents.