I Went Akiya Hunting in Tokyo’s Billion Dollar Neighborhood

Quick Overview

The search for vacant homes (Akiya) in Chiyoda-ku, one of Tokyo's wealthiest districts, yielded only three visibly empty properties after an hour of running, demonstrating the extreme scarcity of such properties in central, highly commercialized areas despite Japan's overall 9 million vacant homes issue. The properties found ranged from a tiny, leasehold structure costing ¥99.8 million (with high monthly land fees) to a modern commercial/residential corner building priced at ¥428 million, highlighting that even dilapidated structures in prime locations demand high prices.

Key Points: The video documents an 'Akiya Marathon' in Chiyoda-ku, Tokyo, attempting to find visibly vacant homes (Akiya). In one hour of running, the creator only identified 3 properties that looked like Akiya, emphasizing the rarity of vacant homes in this central district. The first Akiya found (an old wooden structure) was leasehold, priced at ¥99.8 million (approx. $647,000) with a 12-year lease remaining, requiring a ¥95,000 monthly land fee. The second property found was a modern, four-story corner building listed for ¥428 million (approx. $2.7 million), featuring commercial space downstairs and residential upstairs. Chiyoda-ku has an extremely low residential population (67,000) compared to total Tokyo residents (12-13 million), making the discovery of vacant homes unlikely. The creator noted that the area is highly commercial, featuring many restaurants and bookshops (like in Jinbocho, which they briefly visited/referenced).

Context: The video follows a creator, Shu Matsuo Post (Co-Founder of AkiyaHub), on the second leg of his 'Tokyo Akiya Marathon' series, specifically focusing on Chiyoda-ku, Tokyo's richest and most central ward, which is home to the Imperial Palace. The goal is to see how many genuinely vacant, owner-occupied homes (Akiya) can be found in this prime, highly developed area, contrasting it with the broader national issue of 9 million vacant homes.

Detailed Analysis