Local News

Nagasaki’s Bold Move: Live 10 Years, Own Your Home

In an innovative approach to address housing issues and stem youth outmigration, Nagasaki city is offering young people the opportunity to own their home after living in it for ten years. This initiative, targeting refurbished vacant houses, aims to make housing affordable and encourage long-term residency. With a recent property being offered at a significantly lower rent compared to market rates, this scheme not only provides financial relief but also revives underutilized properties. The initiative comes in response to Nagasaki’s ranking as one of the highest in population outflow, with housing costs cited as a major factor. By fostering a supportive environment for young residents, the city hopes to reverse the trend of population decline. Source: Meisei Kousan / Nikkei

Nagasaki's Bold Move: Live 10 Years, Own Your Home

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Nagasaki City
Published: Feb 28, 2024 / Last Updated: Feb 28, 2024

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