Haunted Real Estate and the Value of Death

In Japan's competitive housing market, some of the most affordable apartments come with an unusual history. Known as jiko bukken, or "incident properties," these homes are associated with deaths that have left them surrounded by superstition, stigma, and stories of the supernatural. In this episode, we explore the surprising world of Japan's haunted real estate market, tracing how rising housing costs and an aging population are reshaping attitudes toward properties that were once considered untouchable. From paranormal inspections and spiritual cleansing rituals to changing disclosure laws and online databases, we examine the businesses and beliefs that have emerged around these homes. The story reveals a fascinating intersection of culture, economics, and mortality, where practical necessity is gradually challenging long-held fears—and where the value of a home can be shaped as much by its history as by its location.https://www.economist.com/asia/2026/07/14/haunted-houses-are-in-demand-in-japan