@IsumiOhara - yes, we agree - buying old houses as a pure investment is not a good idea. From our experience, the only people who are interested in these projects are those who would like to use the properties for their own private purposes - and maybe ALSO try to make some extra money from them if possible - but investment shouldn't be the main criteria for these old homes.

Last year i bought an old house in Chiba, it was not being used therefore it is called Akiya but not abandoned. I did not have to do any renovation, also a friend of mine found a similar house, no renovvation as well. It was not for investment but more as a second house. I dont think it is a good investment outside tokyo, yes properties are cheaper but demand is very low. Real abandoned house will take some work, personally i dont think it is a wise/smart move.

@Martin - do you mean how can you get enough money to retire? By working hard and saving of course! :) (Property investment can help speed up that process)

Since a long time I am looking for a Akiya. But how can I retire and stay in my house?