In 2018, abandoned houses in Japan reached to 62 million, 13 percent of existing residential stocks. Why this happened?
Under aging society, poor succession policies as well as wooden structures’ functional deterioration have promoted this phenomena.
On the other hand, after surviving lost decades, Japanese relatively younger generations say, 30-50es, have started real estate investments. Some purchased quasi abandoned residential at so-called fire sales price, refurbished it and put on lease. Some renovates the interior finishing and put the residential on the Airbnb market. Say past several years, more and more individual real estate owners have been in the market and this phenomenon would be accelerated more.
- Tags
- abondoned, airbnb, Akiya, Japan, residential
