For the newbies,
you get half the allowance for first 2 years if you join as an SO. That would mean around 24K/month I think but it varies from month to month as it is linked to some property price index.
Can you lose money...absolutely. As 404 has posted, those that bought in the mid 90s are waiting to recover their money back, not make any, just recover. The general rule is you dont lose in property but you could be waiting an awful long time. Prices in japan are still below the peaks of 20years ago.
ONto numbers...lets say you get $48K for purchasing(after 2 years here). You pay tax on it so that makes it about $40K. Take out management fees, government rates and rent and that leaves you with about $34K. Interest rates here are just over 5% at the moment so that amount would support a loan of up to $8million. That should get you around 1200 ft2 in midlevels or say 1500+ ft2 in DB. You will need to come up with the deposit somehow. That is 30% but you can get more out of the bank but not 100%. If you decide to move into a bigger place, as a buyer or renter, no problem. Your housing assistance moves with you though, it cannot be used to pay off a house you are not living in.
clear as mud?