"Akiya bank" is a phrase that means different things in different prefectures. At its simplest, it is a list of vacant houses that a municipality publishes online. At its most complex, it is a marketplace with grants, covenants, residency requirements, and matchmaking services. Foreign buyers should know which kind they are dealing with before they get attached to a listing.

The three kinds of akiya bank

  1. The bulletin board. A municipal website that publishes vacant properties as a public service. No grants, no covenants. The seller and buyer transact privately, usually through a local realtor. Example: most Hokkaido municipalities outside the Niseko-Furano corridor.
  2. The granted bank. A municipal program that offers buyers up to ¥1.5M in renovation grants in exchange for committing to residency and a multi-year stay. Example: Iiyama, most of Nagano, Yuzawa-shi, Yokote-shi.
  3. The matchmaking program. A full-service municipal initiative that pairs prospective buyers with vacant houses and the elderly owners willing to sell them. Often includes site visits, translation help, and post-sale check-ins. Example: Tomi-shi in Nagano, some Akita municipalities.

What grants typically cover

Municipal grants almost never cover the purchase price. They cover renovation and relocation costs. Typical line items:

  • Renovation grant — ¥500,000-¥1,500,000, requires receipts and itemized invoices.
  • Relocation allowance — ¥100,000-¥500,000, one-time, for moving costs.
  • Child education subsidy — if you bring school-age children, often ¥200,000-¥500,000 per child.
  • Owner's business start-up grant — if you start a registered business at the property within two years, additional ¥500,000-¥1.5M.

These are usually reimbursements, not advances. You pay first, submit receipts, get paid back. Cash-flow planning matters.

The covenants you'll be asked to accept

Standard covenant package across most granted programs:

  • Residency — juminhyo registration at the property within 6-12 months.
  • Stay duration — remain registered for 3-5 years. Selling or relocating earlier triggers pro-rated repayment of grants received.
  • Primary use — the property must be a primary residence, not a short-term rental, for the covenant period. Some programs allow secondary residence with reduced grants.
  • No demolition — structures cannot be demolished within 5 years of grant receipt.
  • Local sponsor — in some programs, you'll need a Japanese local resident to vouch for you. This is informal but real — municipalities want to know you have community ties.

The agricultural-land covenant

Separate from akiya-bank covenants but often layered on top: many rural kominka sit on land zoned as agricultural. Owning agricultural land in Japan requires a permit from the local agricultural committee (nogyo iinkai), who must be persuaded that you intend to farm.

Foreign buyers can satisfy this requirement. We have placed buyers who keep a small kitchen garden and one or two fruit trees — that has satisfied the committee in Nagano. The process adds 2-4 months to closing. It is not a wall; it is a slowdown.

What we have seen go wrong

In three years of placing foreign buyers, the recurring failure modes:

  • Tourist-visa buyer accepts residency covenant, can't actually register juminhyo. Common. Always check visa class first.
  • Buyer relocates after 18 months, owes ¥800K back in grants. Read the stay-duration clause.
  • Property has a hidden agricultural-land overlay, closing delayed 4 months. Get the zoning certificate before contract.
  • Renovation grant denied because invoices weren't itemized. Tell your contractor to invoice each item, not a lump sum.

None of these are fatal. All of them are avoidable with one conversation up front. That conversation is what the Insider tier exists for.