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Anton Wormann, 32, made the move to Japan in October 2018, driven by his enthusiasm for DIY projects and a desire to enhance beautiful living spaces. Upon learning that an adjacent property had been abandoned, he seized the opportunity to purchase it and restore it to its former glory.
Wormann soon found that the home had stood empty for nearly a decade following the passing of its elderly owners.
This property was one of the approximately 9 million “akiyas,” or vacant houses, that litter the landscape of Japan, as reported by the government in 2023.
While many nations grapple with housing shortages, Japan faces a significant issue of oversupply—an abundance of empty properties.
Everywhere from vibrant urban centers to the tranquil countryside, these forsaken homes can be acquired for as little as $10,000.
Japan’s vacant homes
Japan is currently dealing with an unprecedented demographic crisis that has led to millions of unoccupied houses. The nation’s population continues to decline, with the fertility rate reaching a record low of 1.2 births per woman in 2023.
Simultaneously, the elderly demographic is surging, with projections indicating that individuals aged 65 and older will comprise around 30% of the total population in 2024, according to government data.
This shift has resulted in a scenario where death rates now exceed birth rates, further exacerbating the issue of abandoned properties. Some individuals, like Wormann, view this trend as a unique chance to acquire real estate affordably while also preserving some of Japan’s exquisite architectural heritage.
Finding an ‘akiya’
Wormann, who hails from Sweden and has spent time in major cities such as Paris, London, Milan, and New York, fell in love with Japan during a work trip in 2015.
After that initial visit, he made it a point to return each year, stating, “Every time I was about to leave, I just never felt that I was ready to go.” The captivating scenery, exquisite cuisine, and rich culture resonated deeply with him.
“I really wanted to stay here and spend more time here. I really can’t put words to it, but it just vibrated with me,” Wormann recalled. Thus, in October 2018, he decided to relocate to Japan permanently.
As he immersed himself in Japanese culture and language, Wormann identified the potential in acquiring “akiyas,” renovating them, and transforming them into attractive short-term rental properties.
“I came across some articles on the topic … and it piqued my interest, but I didn’t fully grasp the scale of the problem, or the opportunity it presented, until I moved here, learned Japanese, and integrated into society,” he explained.
Building on his childhood experiences of dreaming about renovating old houses with his father, Wormann had already gained expertise from renovating numerous properties in both Sweden and Japan before discovering his neighbor’s abandoned house.
“Creating something beautiful takes time … when you realize it is unique, it brings me immense joy,” he noted.
The renovation journey
Upon finding the vacant property next door, Wormann reached out to the owner’s descendants with assistance from a nearby resident.
He acquired the 86-year-old house for approximately 8 million yen (about $54,000), not including closing costs, as highlighted in documents reviewed by CNBC Make It.
Before commencing demolition, Wormann had to remove the previous occupants’ belongings—an all-too-common situation for neglected properties in Japan.
The house was also plagued by a termite infestation and required substantial structural repairs.
“I was certainly daunted by the task ahead … having only seen it from the outside, I could only imagine what awaited me inside,” he admitted. “I anticipated a clean, empty space, but that was far from reality.”
“There were many uncertainties, but I loved the location, the natural light, and the size of the house. As long as you have those elements, you can fix just about anything,” he reflected.
The renovation took Wormann 15 months to finish.
During the overhaul of the $55,000 property in Tokyo, Wormann dedicated over 1,000 hours of labor.
Wormann explained that working in Tokyo is particularly challenging because of narrow land sizes. “You must demolish and discard debris as you go; otherwise, the renovation process stalls,” he said.
The repetitive cycle of demolishing, renting a vehicle to transport waste, and returning to the site became a hallmark of his renovation experience.
The design of the home evolved gradually, influenced by his prolonged interactions within the space. “You understand the layout and feel of the place over time and begin making decisions about how to integrate the original features,” he described.
Ultimately, Wormann invested approximately 1,500 hours into the overhaul. “For an entire year, my life revolved around that house,” he stated, alongside another 8 million yen spent on renovations.
In total, the purchase and renovation cost about $110,000. The property has since become a popular destination for tourists visiting Tokyo, commanding around $500 a night on Airbnb, and generating an estimated $11,000 in monthly rental income, as reported by CNBC Make It.
Turning passion into enterprise
What began as a personal passion project for Wormann is now evolving into a successful business venture. He now owns eight properties in Japan, with seven being previously abandoned houses. He has completed renovations on three and is currently working on four additional projects.
With great effort and dedication, Wormann believes these neglected homes, often deemed “old” or unworthy by some, can be rejuvenated into beautiful, livable spaces once again.
“There are declining villages across Japan … from a cultural standpoint, many magnificent homes are left to decay,” he commented.
“Numerous places that were flourishing 30 to 40 years ago are now forgotten and abandoned, which is both intriguing and saddening,” he mentioned. “However, there is potential to save and preserve them.”
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