Japan's building industry has experienced a tower mansion (high-grade apartment building) boom, but the way the units are sold is unbelievably shady and a financial trap for many. My husband is a little bit geeky on this stuff and has been telling me a bit about this.
First thing, they tend not to disclose information about the land/area quality. For instance, if the building is on land which used to be a riverbed side, they won't tell the buyers. You might think, "oh well, that was a river a long time ago" (exactly what I told my husband 😆).
But apparently, there's always a minor risk that you know, the building may sink a little, or that it could cause trouble in case of flooding. Speaking off, they also don't disclose hazard map information. True, it's up to the buyers to do due diligence and be responsible.
But I guess not everyone is vigilant about these things. Anyway, I believe vendors also have a duty to lay it out clearly so buyers can make an informed purchase.
But the really shady thing promoters do is... underestimate the cost of repair and management of these high-grade buildings which offer tons of common area (lounge, garden, sports room...). Instead of precisely calculating the cost owners need to expect to pay over time...
They just give a ballpark number, which is often 30 to 50% less than the real cost. Also, they don't look over 30 years. Meaning that there's no plan for what happens with these towers after three decades. Who bears the repair cost?
In 2020, the first generations of these tower mansions hit 15-20 years and issues related to management cost finally popped up in the media, as some owners found themselves struggling with paying repair, while unable to sell because these units aren't attractive.
If you can speak Japanese, you'll find a lot of Youtubers are addressing these issues and warning people that you should be very cautious when you buy an apartment in these:
Now, how do they come up with the land for their tower housing project? Here you go ⬇️

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More from @AmelieinTokyo

1 Jan
My husband’s family history is complicated (on both side), to say the least.

Recently, he grew curious and wanted to learn more about his maternal grandfather—which was quite a force of nature.

Here’s a pretty long thread ⬇️
His maternal great grandfather was from a samurai family, so wealthy enough at the time to study at Todai and to become a judge. He got married, had 2 sons and then found nothing better to do than abandoned wife & kids to ran with a mistress and go do business in Manchuria.
Suffering from financial hardship, his ex-wife (from a merchant family) had to sell one of her son to another family.

She kept my husband’s grandfather with her, and remarried.

His grandfather received some good education, luckily, and studied at Meiji university.
Read 22 tweets
30 Mar 20
Lien YouTube pour voir en direct la conférence de presse d'urgence de la gouverneur de Tokyo Yuriko Koike :
(Il est 20:03 ça n'a pas encore commencé, comme quoi la ponctualité des japonais...)
20:11
Je rigole en constatant qu'ils ont mis une barre de recherche avec le mot clé pour trouver le site d'information mis en place par la ville de Tokyo en toile de fond
Read 43 tweets

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