Are Millennials the New Owners of Japan’s Forgotten Real Estate?

Photo by Chase Eggenberger on Unsplash

The Rise of a New Generation of Homebuyers

When we think of abandoned homes in Japan—known as akiya—we often imagine eerie, remote structures left to the elements. But a quiet revolution is underway. A growing number of millennials, both Japanese and foreign, are flipping the script on these so-called “ghost houses,” breathing new life into forgotten properties and reshaping what it means to own a home in Japan.

So, what’s drawing this generation to akiya—and are they really the next wave of property owners in rural Japan?

Akiya: From Neglect to New Beginnings

As of 2023, Japan has an estimated 9 million vacant homes, a number that’s expected to rise due to the country’s declining population and aging rural communities (Japan Policy Forum). In the past, these homes were viewed as burdens—expensive to maintain, difficult to renovate, and located far from modern conveniences.

But millennials are seeing something different: possibility.

Where older generations saw decay, millennials see creative freedom. Where others saw distance, they see digital freedom. And where traditional buyers focused on cities, this new wave of homeowners is going off-grid—armed with laptops, solar panels, and a dream.

Why Millennials Are Embracing Akiya

1. Affordability

Many akiya cost less than a car. In some areas, homes are listed for under ¥1 million (~$7,000 USD) or even offered for free, as long as the buyer commits to renovations.

Compared to urban real estate, this is a game-changer for a generation often priced out of traditional markets.

“I couldn’t afford a studio in Tokyo—but I bought a whole house in Shikoku for $12,000.” – Marcus, 34, from Berlin

2. Remote Work Has Changed Everything

With the shift toward remote work, many millennials don’t need to live in city centers. Akiya properties offer space, nature, and a quieter pace—without sacrificing connectivity. In fact, some regions now promote high-speed internet infrastructure to attract remote professionals.

3. Sustainability & Minimalism

Minimalism, homesteading, and sustainability are core values for many millennials. Akiya often offer large yards for gardening, proximity to fresh food sources, and the chance to renovate with eco-conscious materials—turning forgotten homes into self-sufficient sanctuaries.

4. A Creative Blank Canvas

Akiya renovations give millennials the chance to create something truly unique. Whether it’s a remote art studio, a café, or a modern-Japanese fusion home, these properties are attracting creatives who want to design outside the box—and the city.

Foreign Millennials Are Joining In

It’s not just Japanese millennials fueling this trend. Foreigners are increasingly intrigued by the prospect of owning property in Japan—especially now that there are no restrictions on non-Japanese buyers. Blogs, YouTube channels, and communities like r/akiyajapan have exploded in popularity, showing the world that owning a piece of Japan’s countryside isn’t a pipe dream—it’s accessible.

Companies like Old Houses Japan and local akiya banks are making it easier than ever to browse listings, get translations, and connect with agents across the country.

Challenges Remain

Millennials aren't diving in blindly. They know the risks—renovation costs can be unpredictable, some homes are in remote locations, and bureaucracy can be tricky. But this generation is known for doing its homework, seeking community support, and navigating digital tools to bridge the knowledge gap.

They’re not just investing in real estate—they’re investing in a new lifestyle.

Final Thoughts: The Future of Akiya Belongs to the Bold

Millennials are the first generation to grow up with access to global information, real estate apps, and DIY culture—and they’re using these tools to change what it means to “own” in Japan.

By embracing the imperfections of akiya and finding beauty in the challenge, they’re not only rescuing old homes but revitalizing entire communities.

So yes—millennials may very well be the new stewards of Japan’s forgotten real estate. And in doing so, they’re building more than homes. They’re building a new legacy.