Yep, that's interest rate - I checked with several bank sites before posting. This is due to volatile economy (war, corruption, all that) and higher risks for banks. You end up paying several times the price of the property. Like I said, almost everyone I know just puts aside 30-50% of their salary instead and buys at once when they save enough. 50% of 4k - and you effectively have only $2k to spend each month. Doesn't look that rosy compared to France, does it?

Rent is cheap - I pay about $500/mo for a 1 bedroom apt in the city center. 10 minutes of walk to the office. The price of that place? - about $200k. That's one of the reasons we don't have a proper rental business: it just doesn't make sense.