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01 May 2019
Housing Development Board
Suggestion View - 554
Abandoned houses in Japan

10 million homes in Japan are abandoned, representing 15% of all houses in Japan. They have no value, even though they are freehold. Remember, properties in Japan used to be very expensive and a great investment.

See this report

This is a lesson for Singapore. Do not complain that our HDB flats will have no value at the end of the lease. Even freehold properties in Japan face the same fate.

What are the causes of this phenomena of abandoned houses? Aging population and low birth rate. Sound familiar?

What is the lesson? Do not pay too much for your property. Do not think that it is an appreciating asset (do not trust the ministers who tell you so).

Just rent your property and pay the rental one month at a time. Do not pay for the high cost over the next 25 years of your working life, and let it take away most of your spending power.

Tan Kin Lian

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