The video is very informative and detailed. Thank You for doing such a very good job explaining the complications and realities (cons but pros) of buying a Akiya house in Japan. I’m sure this video will help me and many people to successfully purchase a Akiya house in the beautiful country of Japan. Again thank you for your hard work and sharing such important information for buying a Akiya house.
I personally wouldn’t buy an old house in Japan, especially an Akiya that likely has structural rot and termite damage from years of neglect. All you have to do is see the dashcam footage of those old homes in Ishikawa Prefecture collapsing catastrophically due to their heavy tile roofs and low torsional rigidity wood frames. Kobe used to be full of homes just like those, but they collapsed catastrophically in the 1995 Great Hanshin-Awaji Earthquake, and burned en masse, killing their owners and families. Sure you could say “just don’t buy an old home in a high risk part of Japan, but Ishikawa Prefecture was low to moderate risk on that map. I just wouldn’t risk it in any disaster prone country on the Pacific Rim of Fire, especially if I had a spouse or family living with me. I’d only buy an akiya for the property, and construct a new, safe modern home in its place.
It's true. Great points there! Thanks so much for sharing. Before any purchase, it's important to assess the risks, be it disaster, structural, and even financials...and proceed only if one is satisfied with the risk mitigation measures.
Exactly I visited several Akiya properties absolutely terrible. Just ended up renting instead. Modern, clean no crazy tear outs. All of these homes are completely obsolete.
Love all the tips what are you thoughts on buying a Akiya remotely. Would you say it better to be do the trip and have an idea of what you're buying or are real estate agents pretty good at giving you all the information you need, good or bad as it may be?
Just a few additional points of consideration from my own research: Rentals in Japan require a minimum of 180 days, so thinking you can make it an Airbnb immediately is not possible or feasible. For Airbnb (seems to be categorized as hotels) - Need a hotel license - Need additional requirements which adds to renovation costs and time (fire, plumbing, electrical, insurance etc) - at least 2 toilets Not possible to get a loan in Japan if you are not PR Only way is to prepare the full amount in cash and budget additional 30% for renovation, fees, paperwork, misc
Hi @jpjay1584. Yes you can use as a conservative gauge too. We do onserve quite a few countryside theme Airbnb that have high occupancy. They were really hard to book.
Interesting video and ideas. Just a suggestion. With your accent it might be helpful to talk a bit slower. It’s just a little challenging to keep up with your great information
The wifi in the suburb and rural areas are still quite good. I can't say the same for mobile phone coverage, but it didn't give us too much problems in most areas.
Property investments are what's causing UNAFFORDABLE housing world wide. Why can't people just be happy with the home they live in or move to another without having to buy up EVERYTHING to raise the prices so fewer people can afford a home? The world is reaching a tipping point where greed will be your end. I have seen people beat up by those who found out they were buying up real estate to flip it. Using the real estate market like a stock exchange is the worst thing you can do to other people. People have to live somewhere and jacking up prices so you can profit is a surefire way to paint a target on your back. Karma always pays back. Be nice, not greedy.
We respect every individuals' opinions. But we would like to offer a differing perspective. Price and affordability is a function of demand and supply. If there are more 10 families on this planet and there are 11 houses. How much would the last house be sold for, assuming that the last house will have no demand at all. We believe the lack of housing inventory is what caused houses to be unaffordable and when investors come in to buy dilapidated houses and fix them up, they are actually increasing the supply. Note that NIMBYISM plays a huge part curbing new supply. In this way, it indirectly makes housing affordable. You can help play a part by getting your local grassroot leaders to help raise the lack of supply in your region.
The video is very informative and detailed. Thank You for doing such a very good job explaining the complications and realities (cons but pros) of buying a Akiya house in Japan. I’m sure this video will help me and many people to successfully purchase a Akiya house in the beautiful country of Japan. Again thank you for your hard work and sharing such important information for buying a Akiya house.
Thank you so much for your kind words. All the best in your endeavor and on getting an amazing Akiya. 😊
I personally wouldn’t buy an old house in Japan, especially an Akiya that likely has structural rot and termite damage from years of neglect. All you have to do is see the dashcam footage of those old homes in Ishikawa Prefecture collapsing catastrophically due to their heavy tile roofs and low torsional rigidity wood frames. Kobe used to be full of homes just like those, but they collapsed catastrophically in the 1995 Great Hanshin-Awaji Earthquake, and burned en masse, killing their owners and families. Sure you could say “just don’t buy an old home in a high risk part of Japan, but Ishikawa Prefecture was low to moderate risk on that map. I just wouldn’t risk it in any disaster prone country on the Pacific Rim of Fire, especially if I had a spouse or family living with me. I’d only buy an akiya for the property, and construct a new, safe modern home in its place.
It's true. Great points there! Thanks so much for sharing.
Before any purchase, it's important to assess the risks, be it disaster, structural, and even financials...and proceed only if one is satisfied with the risk mitigation measures.
Exactly I visited several Akiya properties absolutely terrible. Just ended up renting instead. Modern, clean no crazy tear outs. All of these homes are completely obsolete.
Love all the tips what are you thoughts on buying a Akiya remotely. Would you say it better to be do the trip and have an idea of what you're buying or are real estate agents pretty good at giving you all the information you need, good or bad as it may be?
It would be good to be there at least once to understand the surrounding, potential economic drivers, opportunities and the personnel.
Just a few additional points of consideration from my own research:
Rentals in Japan require a minimum of 180 days, so thinking you can make it an Airbnb immediately is not possible or feasible.
For Airbnb (seems to be categorized as hotels)
- Need a hotel license
- Need additional requirements which adds to renovation costs and time (fire, plumbing, electrical, insurance etc)
- at least 2 toilets
Not possible to get a loan in Japan if you are not PR
Only way is to prepare the full amount in cash and budget additional 30% for renovation, fees, paperwork, misc
This is so informative!
Thank you, glad you like it!
Great video! Hats off!
Thank you Alex. 🔥🔥🔥
Very informative video. I would love to hear the challenges of obtaining a hotel license in order to Air BNB in Japan.
That's a good idea.
Will most definitely explore that idea. Thank you Sandy.
50% vacancy, never ever (not in the countryside)
10-20% ok, but not every second day an other tenant is there paying.
Hi @jpjay1584. Yes you can use as a conservative gauge too. We do onserve quite a few countryside theme Airbnb that have high occupancy. They were really hard to book.
@@bytesizedinvestments ok, thanks
Interesting video and ideas. Just a suggestion. With your accent it might be helpful to talk a bit slower. It’s just a little challenging to keep up with your great information
🫡👌👍
I would like to know about Internet access.
The wifi in the suburb and rural areas are still quite good. I can't say the same for mobile phone coverage, but it didn't give us too much problems in most areas.
No way! 100k usd is really pricy and not worth it. I'm in Europe and Villas with swimming pools are going for that price.
That's also a great option!
$1 untuk harga sebuah rumah, tapi jika ternyata rumah itu horror, ada solusinya, jadi bisa tetap dapat rumah layak huni dengan harga $1
Transform it to an Escape/ Horror house/ game room n collect fees
👍👍👍
I could work on a retrofit.
Yea...Go for it! ☺️👍
Property investments are what's causing UNAFFORDABLE housing world wide. Why can't people just be happy with the home they live in or move to another without having to buy up EVERYTHING to raise the prices so fewer people can afford a home?
The world is reaching a tipping point where greed will be your end. I have seen people beat up by those who found out they were buying up real estate to flip it. Using the real estate market like a stock exchange is the worst thing you can do to other people. People have to live somewhere and jacking up prices so you can profit is a surefire way to paint a target on your back. Karma always pays back. Be nice, not greedy.
We respect every individuals' opinions.
But we would like to offer a differing perspective. Price and affordability is a function of demand and supply.
If there are more 10 families on this planet and there are 11 houses. How much would the last house be sold for, assuming that the last house will have no demand at all.
We believe the lack of housing inventory is what caused houses to be unaffordable and when investors come in to buy dilapidated houses and fix them up, they are actually increasing the supply. Note that NIMBYISM plays a huge part curbing new supply.
In this way, it indirectly makes housing affordable.
You can help play a part by getting your local grassroot leaders to help raise the lack of supply in your region.
Hello sir
Hi Sir. How can we help you? 😊
Yes sir
Are there $1 properties in S Korea as well? I heard their demographics are even worse than Japan.
Unfortunately..metro. S. KOREA is extremely expensive. We have not heard of $1 properties in S.Korea
😂👺🥱
very informative, but the pronunciation...
😂😂😂I'm trying my best. Lol. Will strive to do better next time. 💪