Japan's Minpaku Gold Rush Meets the Law

Japan has nine million empty homes — and welcomed a record forty-three million tourists last year. In an empty factory locker room on the first day of new safety rules, Haru and Sakura unpack how vacant houses are turning into gold through minpaku, Japan's private-lodging boom. From renovated "negative assets" to a new marketplace that treats lodging like a tradable asset, to Airbnb naming Tokyo a "prototype city" — the gold rush is real. But so is the crackdown: architect's certificates, Osaka halting new special-zone permits, and wards cutting allowed nights. Who survives when the careless era ends? A story about real estate, regulation, and reading the rules before you act. Subscribe to Narrative Japan for more on the forces quietly reshaping Japan's economy.

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