Japan's emerging share house market
In an aging society that is seeing falling occupancy rates in the property market, unused real estate is becoming an increasingly serious problem. However, this has led to a creation of a new market for share house developers. According to an investigation by a major real estate company, the number of sharehouses has risen 26-fold in the past 8 years, with Tokyo being the most popular location.
In a typical share house, tenants have their own private rooms while the kitchen, living and bathroom areas are shared. Unlike a typical Japanese guest house which is designed for travelers staying for a short period, share houses cater to long-term tenants.
While it may be common in many countries for the younger generation to rent an apartment or house with several friends, share houses in Japan are only a recent phenomenon.Read more