Japan is certainly not suffering from an insufficient supply of vacant properties. On the contrary. The other problem facing the country is too many empty houses. Government statistics say that in 2023 there were more than nine million empty houses on offer, known as “akias”.
As a rule, these are abandoned houses and used for decades, their condition corresponds to this. What is amazing about them, however, is their price. Most of them can be bought for less than 10 thousand dollars, ie from a quarter of a million crowns. He noted it CNBC server.
What is the origin of this phenomenon? Japan is known as an aging country. The death rate is much higher than the birth rate. “We have been looking at the so-called akiya problem for decades, we see its roots already in the post-war economic boom, which led to a sharp increase in housing construction,” Tetsuya Kaneko from the Japanese branch of the consulting firm Savills explains to CNBC.
Are they frustrated?
The migration of young people who move to cities for work also plays a role, and rural towns are still mostly inhabited by the aging generation. “The local people are considered a burden on Akiyas, so heirs are often willing to use or sell them,” Kaneko says, adding that some even attach these houses, especially those over 30 years old, with superstitions and believing that they are haunted and that living in them can be bad luck.
In short, the Japanese look at these features as something that is it brings more problems than benefits. “And why are these buildings so cheap? As a rule, due to assumptions that the cost of renovation will be higher than the value of the property,” explained the founder of the Japanese real estate site Cheap Houses Japan blog.
Czechs have discovered that they can buy real estate in southern Europe for the same money as in the Giant Mountains, says the head of the real estate company
Czech interest in luxury properties abroad has been increasing recently. People are not only interested in Czech holiday destinations such as Croatia or Spain, but they are also increasingly investing in real estate in Thailand or Dubai. This was said by the executive director of the real estate agency Luxent Jiří Kučera.
Owners are still looking for houses. As the two gentlemen confirm, demand from abroad has been growing significantly recently. Swede Anton Wormann fell in love with Japan during his work trip and is now the owner of seven abandoned buildings. He was disturbed by the prices.
To date, it has renovated three of its properties, and four more conversions are underway. So far, he has invested 110,000 US dollars in purchases and renovations, i.e. about 2.6 million crowns. But the short-term rental will bring him about 11,000 dollars a month, which translates to about 260,000 crowns.
According to Wormann, are his properties a profitable investment? Yes and no. The houses will bring him a great income, but that wouldn’t happen without getting to know the Japanese culture and people.
“Without understanding the local culture and how Japan works, I would be throwing money out the window,” Wormann said. And local real estate experts are joining his side, akiyas can be is a great investment, but only for a certain group of people: especially hobbyists, do-it-yourselfers or those looking for a country retreat. “Those looking for quick, high results may be disappointed,” concluded Kaneko.
It is more attractive to have your own apartment by the sea in Bohemia. Under what conditions can a mortgage be arranged?
It is obvious that there are more and more workers with very good incomes in the Czech Republic. Even so much so that they can buy property abroad on a larger scale than entrepreneurs. Some of them finance it completely out of their own money, some take out a mortgage loan for it. At the same time, they can also take it directly from banks in the Czech Republic. But not everyone knows about it. Read under the conditions you can get such a mortgage for an apartment or house by the sea.
Czechs started buying tickets for the winter holidays. Asia rules
Czechs started buying tickets for November and December, according to ticket sellers, they fly abroad more than last year from September to December. Due to the autumn holidays, ticket sellers recorded a quarter more bookings than last year for the last week of October, and the number of bookings is around ten per cent higher in the week at the beginning November and December. For most ticket sellers, there is exoticism, especially Southeast Asian countries.
Special Properties Club
Realitní Club is a multi-platform project of the newstream.cz server dedicated to real estate, targeting the B2B and B2C sector. It has three basic components – web, print and event with a strong focus on social networks. She was the first to start special page of the Realitní Club. The special one is divided into four sections that deal with key areas of the real estate market in a “deep dive” way.
- Brown field: vision and future of underdeveloped areas, especially in big cities;
- Real commercial realities: offices, coworking;
- New construction: development, rental housing, cooperative housing, mortgages;
- It is real politics: how cities and the highest levels of central politics participate in construction.
They will be included discussions by developers, politicians, architects and planners.
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2024-11-09 07:15:00
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