ATP spoke to Tsuyoshi Domoto, the Founder of Akiya Air, who has created a platform to help unlock the potential of akiya by offering a one-stop service for buying, renovating, managing, and monetizing these homes.
Some of the topics Tsuyoshi covered in detail:
- Japan’s tax system discourages demolition and incentivizes keeping decrepit houses standing.
- Navigating Japan’s real estate market as a foreigner can be quite challenging. Trying to purchase and renovate a rural home is nearly impossible without local help.
- While many foreigners may not know ‘akiya’ exist, those who do are enthusiastic. Some want a second home to visit regularly; others see it as an Airbnb-style investment for other foreign visitors.
- Financing can still be a major barrier as Japanese banks are still cautious about lending to foreigners, especially those without permanent residency.
- Akiya Air’s vision is to create pockets of innovation and community in Japan’s countryside, akin to what he saw in Bali — digital nomads, creatives, and entrepreneurs co-living and co-working in revitalized areas.
