The 1981 Seismic Shift

Buildings approved from June 1981 adhere to the new seismic standard (新耐震), while those before are stuck in the riskier "old standard" (旧耐震) stock. This divide affects financing and resale as many banks and buyers avoid 旧耐震 buildings, leading to deep discounts on older condos. One date on the building certificate changes safety, financeability, and resale value.

Condo owners in Japan juggle a monthly management fee for building operations and a repair reserve for large-scale repairs. These reserves often run low and RISE with building age, leading to potential special levies (一時金) for big repairs. Both fees persist whether the condo is occupied or not. The sticker price is not the cost of ownership — the reserve fund's health is as important as the price.