[Foreclosed] Japanese Castle in Hokkaido
*NO LONGER AVAILABLE*
Bidding started from 16,663,000 Yen
This foreclosed property in Akabira City is a replica of a traditional Japanese castle. The 6-storey reinforced concrete structure was originally called 'Tokugawa Castle" and was a doll museum. It was owned by the only festival doll manufacturer and supplier in Hokkaido, and the company used the space to display and sell their wares. The doll company still seems to be operating, but they have not used this building for the past five years. It has not been maintained during recent years and has some broken windows and roof damage.Read more
Foreclosures set to increase as more borrowers report difficulty making mortgage payments
The number of home-owners in Japan who are falling behind in mortgage payments and relinquishing their homes are increasing. According to the Fudosan Keibai Ryutsu Association (FKR), the number of foreclosed properties in 2010 was 51,746. This was a decrease of 7,000 from 2009, but is still at a high level.Read more