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It's only somewhat worth it? Japan has reasonable real estate and yet around 10% is in Tokyo proper, nearly 30% in the greater metropolis. Less than half own t
by pempem 2y ago
It's only somewhat worth it?
Japan has reasonable real estate and yet around 10% is in Tokyo proper, nearly 30% in the greater metropolis. Less than half own their homes.
This study: https://www.sciencedirect.com/science/article/pii/S0264275124002786 https://www.sciencedirect.com/science/article/pii/S026427512... from 2023 shows that they're suffering similar issues of intergenerational wealth transfer when it comes to owning homes, specifically if your parents don't help you - you're unlikely to be able to get on the ladder.
There are a ton of homes that are not claimed but purchasing them, their value, the land value are all - as you know - quite different from the US/AUS/India where the value goes up. Different from the UK where you own the home, but lease the land etc.
- tonyedgecombe 2y ago>Different from the UK where you own the home, but lease the land etc. In general it's only flats (apartments) that are leasehold, the majority of houses are freehold.
- shiroiushi 2y agoPeople in Japan don't feel the need to own their own homes that much. Apartment rents are generally reasonable, and there's constantly new apartments being built so there's lots of competition. Tenant protection law is also pretty strong so landlords can't mistreat tenants as badly as in other places. >There are a ton of homes that are not claimed Those are in rural places with dwindling populations, where no one wants to live any more.