Buying a home in Japan

Akiya: The Complete Guide to Buying Vacant Houses in Rural Nagano

editor@washitsu-lab.com
Akiya: The Complete Guide to Buying Vacant Houses in Rural Nagano

I was born in Nagano Prefecture. I have spent most of my working life helping people, many of them from outside Japan, navigate the process of buying property here. In the past several years, the number of foreign buyers asking me specifically about akiya (空き家, vacant houses) has increased dramatically, driven by social media coverage that ranges from genuinely accurate to wildly misleading. Before anything else, let me say this: akiya in rural Nagano represents a real opportunity, but it is not the opportunity that the "free Japanese house" headlines describe. What it actually is takes longer to explain, and that explanation is what this guide is for.

Japan's 2023 Housing and Land Survey counted approximately 9 million vacant housing units nationwide, roughly 14 percent of the country's total housing stock. That number gets cited frequently in coverage of this topic, and it is accurate. What often does not get explained is why. Japan built aggressively through the postwar economic expansion and into the 1990s, then the population began declining and urbanizing simultaneously. Young people left rural towns. Parents aged and died. Their children, living in Tokyo or Osaka or overseas, had no intention of returning to a farmhouse in the mountains. The property sat vacant. Decades passed.

In Nagano Prefecture, this pattern is pronounced. The prefecture is mountainous, beautiful, and outside of Matsumoto and Nagano City, overwhelmingly rural. Some villages here have akiya rates that exceed 30 percent of the housing stock. That is not a statistic about decline, it is a statistic about opportunity, provided you understand what you are actually buying into.

The foreign buyers who have successfully completed akiya purchases in the Nagano region, in my experience, share certain characteristics. They are patient. They have either Japanese language support or trusted local contacts who do. They came to the process with realistic renovation budgets rather than the fantasy numbers that circulate online. And they wanted something specific that akiya can deliver: a genuinely authentic piece of Japanese rural architecture, at a price point substantially below the ski resort market, with the possibility of becoming part of a local community rather than simply owning a chalet.

What "Akiya" Actually Means: the Full Spectrum

The word akiya means, literally, empty house. That is where the precision ends. When someone says they found an akiya for sale, that single word describes a property that could be anything from a well-maintained farmhouse whose elderly owner passed away eighteen months ago and whose heirs have decided to sell quickly, to a building that has been unoccupied for thirty years with vegetation growing through the foundation and a roof that has admitted water so long that the structural timbers are compromised. Both are akiya. The price difference between them can be enormous, and the renovation cost difference can be even larger.

The term "free house" or "abandoned house Japan" that circulates on social media typically refers to the extreme end of the spectrum, properties that municipalities are listing for ¥0 or near-¥0 because the owners have effectively surrendered interest in them and the alternative is paying for demolition. The renovation of a ¥0 listing can cost ¥20,000,000 or more. Whether that is good value depends on what condition the structure is in and what you intend to do with it, not on the headline asking price.

In the Hakuba Valley and the Nozawa Onsen area, the akiya I have walked through with buyers fall into roughly three categories. The first is properties that were occupied within the last five to ten years, have been maintained reasonably well, and need renovation to modern comfort standards but are structurally sound. These are the most straightforward cases and, consequently, the ones that tend to move quickly when they surface in the akiya bank listing or are flagged by a local agent. The second category is properties that have been vacant for ten to twenty years, still structurally viable, often still possessing the beautiful exposed timber framing that buyers find so attractive, but requiring comprehensive renovation including insulation, electrical, and plumbing. The third category is properties where vacancy has exceeded two or three decades and the structure has sustained serious damage. My honest advice on many of these properties is to walk away, regardless of the price. The cost of bringing them to a livable standard typically exceeds the cost of building new on the same land.

The Akiya Bank (空き家バンク) System

How Municipal Akiya Banks Work

The Akiya Bank (空き家バンク, akiya banku) system is Japan's formal mechanism for connecting vacant property owners with prospective buyers or renters. The system is operated at the municipal level, each city, town, or village runs its own registry. Municipalities identify vacant properties either through owner self-registration or through municipal surveys. Properties are listed with basic information: the address, the registered land area (土地面積, tochi menseki) and building area (建物面積, tatemono menseki), the asking price, a contact person, and sometimes photographs.

Both Hakuba Village (白馬村, Hakuba-mura) and Nozawa Onsen Village (野沢温泉村, Nozawa Onsen-mura) maintain akiya bank registries. Other municipalities in the mountain regions of Nagano, including Otari Village (小谷村, Otari-mura), Iiyama City (飯山市), and the various villages of Shimotakai-gun (下高井郡), also operate registries with varying degrees of activity.

The national government has created an aggregating portal through the Ministry of Land, Infrastructure, Transport and Tourism. This is often the starting point for foreign buyers searching from outside Japan. The portal's limitations are real: not every municipality participates, the listings are not always current, and the available detail is sometimes minimal. Individual municipality websites often have their own akiya bank pages with more up-to-date listings, and some municipalities will only share full listing details after you make direct contact.

How to Search Effectively

Start with the national portal to identify municipalities in the areas of Nagano that interest you. Then go directly to those municipalities' websites and look for the akiya bank section, usually under a heading related to housing (住まい, sumai) or migration and settlement (移住定住, ijuu teijuu). Contact the municipal office directly by email if you want current listings or if the website does not show full detail. Having your inquiry translated into Japanese, even a short, polite message explaining that you are a foreign national interested in properties in their akiya bank, will get a more useful response than an English-language inquiry in most cases.

Some municipalities have begun to work with agencies that handle foreign buyer inquiries. Hakuba, given its large existing foreign resident community, has more of this infrastructure than most Nagano mountain towns. Do not assume it, confirm it.

Registration Requirements for Purchasers

Many akiya bank programs are not simply property sales, they are settlement promotion programs. The municipality's goal is not merely to dispose of vacant property; it is to attract new residents who will contribute to the community. Accordingly, many programs require elements beyond simply having the purchase price. Commonly required elements include: evidence of intended use (a renovation plan or business plan); a meeting with municipal staff before the property is transferred; a commitment to complete renovation within a specified period; and, in many cases, an intention to register residency (住民票, juuminhyo) in the municipality.

The residency registration requirement is significant for non-resident foreign buyers. In practice, I have seen municipalities handle this with varying degrees of flexibility. Some are primarily interested in whether you will renovate the property and maintain it, they understand that a foreign buyer bringing ¥15,000,000 of renovation investment into a rural village is a net positive for the local economy. Others are more rigid about the residency requirement and will effectively screen out buyers who cannot plausibly commit to it. The only reliable approach is to ask the specific municipality directly about their requirements and their experience with foreign buyers.

The "¥0" Listings: What Free Actually Means

Properties listed for ¥0 or near-¥0 in akiya bank registries are real. I have been involved in transactions where the property itself transferred for a symbolic ¥100,000 or even at no cost. Understanding why requires thinking about the situation from the owner's perspective. A rural timber-frame farmhouse that has been vacant for twenty years generates property tax liability every year. If it deteriorates to the point where it becomes a public hazard, the municipality can order demolition, which costs ¥2,000,000 to ¥5,000,000 or more for a large timber-frame building. Against that background, transferring the property to a buyer who will invest in renovation and assume the ongoing liability is genuinely attractive, even at zero consideration.

Typical conditions on a ¥0 transfer include: the buyer assumes the full cost of all renovation; renovation must be completed within a defined period, typically three to five years; the property must be used for the purpose stated in the buyer's application; and the property cannot be immediately resold. These conditions are enforceable.

The practical implication: a ¥0 listing is not a windfall. It is a ¥0 purchase price attached to a renovation obligation that will typically cost ¥10,000,000 to ¥25,000,000. Whether that is good value depends entirely on the specific property, its structural condition, its location, and what you intend to do with it.

The Renovation Reality

What I Have Seen on Akiya Walk-Throughs

After twenty-plus years of walking through properties with buyers, I have a visceral sense of what rural Nagano akiya look like when you step inside them. Let me describe a walk-through I did with a couple from Australia two years ago, because it captures the experience better than a checklist.

The property was a traditional minka (民家, traditional farmhouse) in a village about fifteen minutes from a ski resort. The asking price was ¥1,500,000. The photographs in the listing showed the exterior (presentable), one interior room (clean beams, tatami, a shoji screen), and the garden (overgrown but attractive). What the photographs did not show: the entrance room where something had nested in the wall insulation and chewed through two sections of electrical wiring. The kitchen, where the plumbing had frozen and burst at some point during a past winter, leaving water staining that had spread along the base of an interior wall for three meters. The room where tatami had absorbed moisture over years of vacancy and was in the process of returning to soil. The engawa (縁側, a traditional veranda) where several bamboo shoots had come up through a gap in the floor boards and grown approximately 1.2 meters before dying in the dark interior. The irori (囲炉裏, a traditional sunken hearth) room, which was structurally beautiful, high ceiling, magnificent exposed beams, but where the connection between two major posts and a beam had been compromised by moisture infiltration, creating a situation that required a structural engineer's assessment before any renovation plan could be finalized.

My clients were experienced renovators. They bought the property, renovated it over two years with a Nagano-based carpenter and a modern insulation and HVAC contractor, spent approximately ¥18,000,000 on renovation, and now have a property they use as a personal ski base and occasional Airbnb. They are happy. But they went in with open eyes, realistic numbers, and a genuine enthusiasm for the process. That is the template for an akiya success story.

Why Insulation Is the Most Critical Line Item

Japanese traditional architecture is not designed for continuous whole-building heating. The philosophy was to heat small spaces, a kotatsu (こたつ, a low heated table with a blanket), a small room with a portable heater, while the rest of the building was unheated. A renovated akiya without modern insulation will be unlivable as a ski chalet. The temperature differential between the heated interior air and the uninsulated walls and ceiling will create condensation on every cold surface, leading to mold growth that is structurally damaging over time. Heating costs for an uninsulated rural Nagano farmhouse in winter will be extraordinary.

Complete insulation renovation of a rural Nagano akiya, installation of modern insulation in all exterior walls, the roof/ceiling, and the floor, typically costs ¥3,000,000 to ¥8,000,000 depending on the property's floor area and insulation specification. This is before any other renovation work. It is non-negotiable for a property intended for winter use.

This cost is also where I see the disconnect between the renovation budgets buyers arrive with and the renovation budgets they need. Someone who has read that you can "renovate a Japanese akiya for ¥3,000,000" has read about cosmetic renovation, new paper on the shoji, refinished floors, a coat of paint. Most rural Nagano akiya available through the akiya bank require far more than cosmetic renovation.

Structural Assessment: When to Walk Away

The question I am most often asked on property walk-throughs is some version of: "Is this worth renovating?" For any serious akiya purchase, I strongly recommend commissioning a structural inspection (建物調査, tatemono chousa) from a qualified building inspector or structural engineer before finalizing your decision. This costs ¥100,000 to ¥300,000 depending on the inspector and scope.

Warning signs that I have learned to take seriously after years of walk-throughs: post-and-beam connections where the joint has visibly separated or where the beam end is soft to the touch; diagonal cracks in the plaster or foundation components showing evidence of continuing movement; floors that sink noticeably underfoot in ways suggesting foundation settlement; roofs where the ridge line sags or rafters show visible deflection.

When I see these things, my default advice is "commission a structural assessment before proceeding further." But I have been in buildings where the structural engineer's assessment was that renovation to an adequate standard would cost more than the value of the finished property in that location, and in those cases walking away is the right decision, regardless of how attractive the price is or how much you have already invested emotionally in the project.

Cost Ranges for Renovation

A thorough full renovation of a typical rural Nagano akiya, structural repairs if needed, new insulation, new plumbing and electrical systems, a modern kitchen and bathrooms, new flooring and finishes throughout, and HVAC, will cost ¥10,000,000 to ¥30,000,000 or more. The range is wide because it depends on the property's floor area (rural farmhouses are often 120 to 200 square meters), the condition of the structure, the specification of the finish, and whether the buyer is creating a personal residence, a commercial guesthouse, or a high-specification ski chalet.

A renovation that produces a livable, comfortable personal-use property without reaching guest accommodation standard will typically cost ¥5,000,000 to ¥10,000,000. Purely cosmetic renovation, new paper, new floor covering in some rooms, cleaning and minimal repairs, can be done for ¥2,000,000 to ¥5,000,000 on a property that happens to be in fundamentally good condition. Properties in this category do exist, but they are not common in the akiya bank listings.

Renovation Subsidies

Many Nagano municipalities offer renovation subsidies for akiya purchasers. These subsidies are a genuine benefit, real money, not marketing material, but they come with conditions. Typical available subsidies range from ¥500,000 to ¥2,000,000 per property. The conditions commonly include: the renovation work must be performed by a local contractor (地元業者, jimoto gyousha); renovation must be completed within a specified period; the property must be used for the stated purpose for a minimum number of years; and in some cases, the subsidy is structured as a loan that converts to a grant after the use conditions are met.

The local contractor requirement is worth taking seriously rather than trying to work around. Experienced Nagano-based renovation contractors who have worked on akiya know these buildings, the traditional joinery, the local material sources, the specific moisture and snow-load conditions. I have seen buyers bring in contractors from Tokyo and spend more money achieving a worse result than they would have with a local firm.

Current subsidy availability changes annually. Contact the specific municipality's housing department (住宅課, juutaku-ka) or migration support office (移住支援窓口, ijuu shien madoguchi) to find what is currently on offer.

Legal Complications Specific to Akiya

Unregistered Inheritance

The most common legal complication I encounter with akiya is what the Japanese legal system calls unregistered inheritance (相続登記未了, souzoku touki miryo). Here is how it happens. An elderly farmer dies. The farmhouse passes by inheritance law to three children. None of them live in the village, one is in Tokyo, one is in Osaka, one emigrated overseas. None of them formally register the inheritance with the Legal Affairs Bureau (法務局, houmukyoku). Years pass. One of the children dies, and the inheritance of the inheritance is also not registered. Now the property has potentially five or six co-owners of record, some of whom may themselves be deceased.

To sell this property, you need the consent of all registered owners. Tracing them all can be a multi-year process involving family registry searches (戸籍謄本, koseki tohon), official correspondence, and in some cases court proceedings to deal with heirs who cannot be located. This is the work of a specialized real estate lawyer (弁護士, bengoshi) or judicial scrivener (司法書士, shihouhousha).

The Japanese government acknowledged this problem formally. A 2024 amendment to the Inheritance Registration Act now requires heirs to register an inheritance within three years of becoming aware of it, with penalties for non-compliance. But the existing backlog is vast. Before committing to any akiya purchase, verify the title situation with a qualified professional. A tokibo tohon (登記簿謄本, certified registry extract) will show the registered owners.

Agricultural Land Mixed with Residential

Rural properties in Nagano frequently come with agricultural land components, a paddy field, an orchard plot, or a vegetable garden attached to the farmhouse site. The Agricultural Land Act (農地法, nouchi-hou) imposes significant restrictions on transfer and use conversion. Converting agricultural land to residential or other use requires approval from the agricultural committee (農業委員会, nougyou iinkai), and approval is not automatic. For foreign buyers, there is an additional layer of scrutiny. This does not mean it is impossible, but it requires proper handling and professional legal advice.

Unregistered Buildings

A significant number of old rural buildings in Nagano were never formally registered with the Legal Affairs Bureau. Legally, an unregistered building does not exist in the official record, it cannot be mortgaged, and any permit-required renovation work may trigger questions about the building's existing permit status. Rectifying an unregistered building requires a qualified surveyor (土地家屋調査士, tochi kaoku chousa-shi) to measure the building, prepare the registration documents, and file them with the Legal Affairs Bureau.

The 2023 Special Measures Act Revision

The revised Special Measures Act on Promotion of Measures Against Akiya (空家等対策の推進に関する特別措置法), amended in 2023, expanded municipalities' legal tools for dealing with derelict vacant properties. Under the revised law, municipalities can designate not only properties that have become hazardous but also properties in a condition likely to deteriorate without intervention, the "management-inadequate vacant house" (管理不全空き家, kanri fuzen akiya) category. From a buyer's perspective, properties under these designations may be subject to municipal pressure to either renovate or transfer, which can create negotiating opportunities for buyers who approach the municipality proactively.

The Purchase Process for Akiya

Initial Approach

The starting point for an akiya purchase is either the municipal akiya bank, a local real estate agent (不動産業者, fudousan gyousha), or both. If you are approaching through the akiya bank, make contact with the municipal office first, introduce yourself, explain your situation and intentions, and ask what the process looks like for a foreign national. Many municipalities are receptive. If the municipality's program has conditions you cannot meet, it is far better to find out at this stage than after you have identified a specific property and begun due diligence.

Property Visit

Never purchase akiya without visiting the property in person. The photographs in akiya bank listings are selected by the person reporting the property and reflect the most presentable aspects. Visiting in winter is particularly useful if your intended use includes the ski season, it will reveal drafts, cold spots, evidence of frozen and burst pipes, the behavior of the roof under snow load, and the accessibility of the property via whatever road leads to it.

Bring a camera and document everything systematically, room by room, exterior on all four sides, the roof from ground level, the interior of any outbuildings. If you are seriously considering a property, return for a second visit with a local contractor who can give you a preliminary read on the renovation scope.

Title Verification

The title investigation for an akiya purchase begins with the tokibo tohon. For akiya, pay particular attention to whether the current owner and the registered owner match; whether there are mortgages that would need to be discharged; and whether the inheritance chain from any deceased registered owner to the current seller has been properly registered.

Negotiation

Akiya sellers are typically motivated in ways that conventional sellers are not. The alternatives available to them, continued vacancy with ongoing property tax, eventual municipal pressure under the Special Measures Act, potential demolition costs, are unattractive. This creates genuine negotiating leverage, particularly if you can offer a clean transaction with a clear renovation plan and demonstrated financial capacity.

For ¥0 or near-¥0 akiya bank listings, negotiation is often not about price, it is about demonstrating the credibility of your renovation plan and your ability to follow through. Having a preliminary renovation budget from a local contractor, a clear intended use, and a realistic timeline is more valuable than any negotiating tactic.

Renovation Timeline Planning

Before exchanging contracts on an akiya, have at least a preliminary renovation scope and cost estimate from a contractor who has visited the property. Construction lead times in rural Nagano can be significant. Experienced local contractors who specialize in traditional timber-frame renovation are not in unlimited supply, and ski resort renovation demand during peak seasons competes for the same pool of skilled tradespeople. Plan for a renovation timeline of twelve to thirty-six months from purchase to completion depending on scope, and price that timeline into your overall financial model.

Who Akiya Works Well For, and Who It Does Not

Akiya works well for buyers who have significant time or trusted local partners who can manage the process when they cannot be physically present. It works for buyers who are interested in the renovation process as part of what they are buying. It works for buyers whose goal is a deeply authentic Japanese property rather than a modern ski chalet. It works particularly well for buyers with construction or renovation backgrounds who can read a property intelligently. And it works for buyers who are considering actually relocating to Nagano.

Akiya does not work well for buyers who want to generate vacation rental income quickly. The timeline from purchase to a fully renovated, licensed, and operating guesthouse or minpaku (民泊, short-term rental accommodation) is typically two to four years under the best circumstances. If your financial model depends on rental income commencing within twelve months of purchase, akiya is the wrong vehicle.

It does not work well for buyers who lack Japanese language support or trusted local contractors. It does not work well for buyers who need clarity and predictability at every step. And it does not work well for remote buyers who cannot visit frequently during the renovation period. The renovation of a traditional building is a process of ongoing decisions, about how to handle a structural issue revealed by the work, about finish selections that need to be seen in person. Absentee ownership during an akiya renovation is possible but difficult.

The Best Akiya Opportunities near Hakuba and Nozawa Onsen

Within the Hakuba Valley

The core of Hakuba Village, the Echoland area and the zone immediately around the gondola base, rarely produces genuine akiya bank listings because what vacancy exists there is typically owned by investors or resort operators with plans for the properties. More realistic akiya opportunities within Hakuba Village surface in areas slightly removed from the resort core.

For buyers comfortable extending slightly beyond Hakuba Village proper, Otari Village (小谷村) to the north has significant akiya stock at some of the most genuinely low prices I have seen in the mountain region of Nagano, some properties at ¥500,000 to ¥2,000,000 for large traditional farmhouses. Otari has its own skiing (Tsugaike Natural Park) and is approximately 30 to 40 minutes from the Hakuba resort core. The municipality has an active akiya bank program and has been particularly welcoming to foreign inquiries.

Near Nozawa Onsen

The more productive hunting ground for buyers whose target is the Nozawa area is the surrounding villages in Iiyama City and Shimotakai-gun. The small communities of Sakae Village (栄村), Yamanouchi Town (山ノ内町), and the villages along the Nakatsu River valley have active akiya bank listings at genuinely low prices, typically ¥500,000 to ¥5,000,000 for traditional farmhouses requiring comprehensive renovation. Drive time to Nozawa Onsen from these areas is 15 to 30 minutes.

The Omachi and Azumino Corridor

For buyers whose priorities include mountain scenery and lower-cost property with reasonable access to multiple ski areas, the Omachi (大町市) and Azumino (安曇野) corridor south of Hakuba deserves serious attention. Omachi City has significant akiya stock and an active municipal akiya bank program. Property prices here are substantially below Hakuba Village, large traditional farmhouses with land are available in the ¥2,000,000 to ¥10,000,000 range before renovation. Azumino, the gentle valley area between Omachi and Matsumoto, is technically outside the mountain zone but within 30 to 40 minutes of the Hakuba resort core by car. The traditional architecture is beautiful and the akiya availability is significant.

Frequently Asked Questions

Can foreign nationals legally buy akiya in Japan?

Yes, with no nationality restrictions on ownership of real property in Japan. Non-resident foreign nationals can purchase land and buildings. The complications for foreign buyers are practical rather than legal: accessing the akiya bank system, navigating the transaction process, and arranging renovation and ongoing management from abroad.

Do I need to live in Japan to buy akiya?

No residency is required to purchase property in Japan. Some municipal akiya bank programs require, or strongly prefer, buyers who intend to register residency in the municipality. Confirm the specific requirements with the municipality before proceeding.

What visa do I need to renovate and use an akiya property?

If you are visiting Japan to inspect, renovate, or use an akiya property, you can do so on a tourist visa (or visa-free entry) provided you are not receiving remuneration in Japan. If you intend to manage a commercial guesthouse business, that requires appropriate business visa status.

How long does an akiya purchase typically take?

From initial contact to completed transfer: typically three to eight months, depending on whether title issues need to be resolved. Properties with clean titles and cooperative sellers can move in three months. Properties with unregistered inheritance or agricultural land conversion requirements can take considerably longer.

What are the ongoing costs of owning an akiya in Nagano?

Fixed annual costs include property tax (固定資産税, kotei shisan zei), which for rural properties is typically ¥30,000 to ¥150,000 per year. Non-resident property insurance typically costs ¥50,000 to ¥200,000 per year. If you are not resident, you will need some form of local management arrangement, a neighbor, a property management company, or a caretaker, to handle snow removal, maintenance, and periodic checks.

Can I use an akiya as a vacation rental?

Yes, with appropriate licensing. Short-term rental accommodation in Japan requires registration under the Minpaku Law (住宅宿泊事業法, enacted 2018) at minimum. The Minpaku registration process for a renovated akiya is manageable but takes time. Municipalities have discretion to restrict minpaku in certain areas, confirm current conditions with the specific municipality.

Are renovation subsidies available to foreign buyers?

Generally yes, provided the buyer meets the program's conditions, which typically include the local contractor requirement and a use commitment. Nationality is generally not an explicit disqualifying factor in Nagano municipal subsidy programs I have encountered. Confirm with the specific municipality.

What is the difference between buying akiya through an akiya bank vs. through a real estate agent?

The akiya bank is a municipal program with specific conditions attached. Buying through a real estate agent (不動産業者, fudousan gyousha) is a conventional property transaction with no program-specific conditions, you are simply purchasing a vacant property that the seller has listed through an agent. Some akiya are available through both channels. The akiya bank route may offer subsidies; the agent route typically involves a standard commission (3% of the purchase price plus ¥60,000, plus tax). Properties with significant title complications may be easier to navigate through an experienced agent.

How do I find a reliable local contractor for akiya renovation in Nagano?

Ask the municipal office, they typically maintain lists of local contractors who have worked on akiya renovation projects and who are eligible for subsidy-qualifying work. Ask the agent or lawyer handling your transaction. Ask foreign buyers who have already renovated properties in the area, the community of foreign property owners in Hakuba and Nozawa is well-networked. Traditional timber-frame renovation requires a carpenter (大工, daiku) specifically experienced with this construction type.

What is the single biggest mistake buyers make with akiya?

Underestimating renovation costs. Without exception, the buyers I have seen struggle most are those who began the process with renovation budgets that were too low, either because they based estimates on cosmetic renovation figures they read online, or because they fell in love with a ¥0 property and did not calculate the renovation requirement honestly. The property price is frequently the smallest number in an akiya transaction. Do your renovation assessment first, from an experienced local contractor who has seen the property, and let that number drive your decision about whether to proceed.

This article is editorial content from Japan Resort Estate. Nothing here is legal or tax advice — talk to a qualified Japanese 税理士 or 司法書士 for your specific situation.