"Brett Robson" <jet_boy@deja.com> wrote in message

> I often get flyers for manshions and I was trying to work out the
repayments.
>
> eg 16,000,000 yen manshion, borrow eg 13,000,000.

I don't get the same flyers. In Osaka, that's the price for the 1k not
conveniently situated
( that are rented 40 000 yen/month the first 10 years, then 35 000 yen or
less when the building and flats look grotty).
For 100 % of the flyers, the repayment of the loan on 30 years is equivalent
to the rent you'd pay for that place. (sometimes you can rent or buy in the
same building, that's exactly the same price). And don't forget the charges.
Well that would still be interesting if the building were built like in
Europe, after 30 years, you'd own a flat, if you renovate it progressively,
it's still nice.
But here ? I have visited over 60 of those "mansions" built 30 years ago,
and they are all in a bad shape. Rebuying a new one and renovating cost the
same (except if you are extremely lucky , you bought in a once cheap area
that became fashionable in 30 yrs).

They don't have the same logic. The place where I live is 20 yr old, and
looks relatively nice, because the owner is in the building business, so
every 3 years, they repaint, change the bricks on the wall, the stairs, etc.
Every time a person leaves a flat, the next day, they change the wall
panels, the tatami, the ceiling panel, the flooring, the unit bath, the
windows, the kitchen block, the electric wire, the door. No wonder they use
so cheap quality material.

In France, I had a flat in a building of the 16th century, there were still
the original walls, doors that had 200 yrs, the bathroom had been built in
the fifties (the tub, the toilet and the tiles were still nice). The taps
and windows are changed every 20 yrs, the decoration every 10 yrs. That sort
of flat you buy, live in 5 years, resell the same value. My father didn't
lose one eurocent in the bargain, I lived there for the interests of the
loan. That seems to be on another planet.

> That is for an apartment twice the size of what I am paying 90,000 for.

Is it possible that you are overpaying ?

CC