This is not correct for Australia.

I’m looking at places in Melbourne at the moment. A 1-bedroom place is around $450 a week or $1800 a month roughly.

You can easily get a cheaper mortgage than that for a 1 bedroom place. Potentially even get a 2 bedroom unit for same as you’d pay in rent.

Do mortgages function the same in those Asian cities?

I mean you could compare the ‘monthly payment’ on Jenose in Korea but it’s not the real number. It’s not comparable.

https://en.m.wikipedia.org/wiki/Jeonse