Home / Business / Finance & Economy / Archive by category Real Estate Market

Archive by category Real Estate Market

South Korea to Introduce New Measures to Prevent Jeonse Scams on Trust-Registered Properties

SEOUL, Dec. 20 (Korea Bizwire) – Starting December 21, real estate registry documents for properties under trust will include precautionary notes to prevent rental scams, particularly jeonse fraud, following amendments to the Real Estate Registration Act, the Supreme Court’s Administration Office announced on December 19. Jeonse fraud occurs when tenants are defrauded in jeonse transactions—a unique [...]

South Korea Sees Record High Property Auctions Amid Rising Interest Rates and Market Slump

SEOUL, Dec. 17 (Korea Bizwire) – The number of properties auctioned off due to loan defaults in South Korea is on track to hit its highest level in 11 years, reflecting the combined impact of soaring interest rates and a sluggish real estate market. Sharp Rise in Property Auctions Data from the Court Registration Information Plaza [...]

Seoul’s Myeong-dong Ranks 9th Among World’s Most Expensive Retail Districts

SEOUL, Nov. 21 (Korea Bizwire) – Seoul’s bustling Myeong-dong district has emerged as the ninth most expensive retail location globally, according to a new report by Cushman & Wakefield Korea. The real estate services firm analyzed retail rental prices in 138 major cities, revealing that Myeong-dong’s annual average rent per square meter reached ₩10.32 million, a [...]

Shared Accommodation Revenue Soars in South Korea, Driven by Millennials and Gen Z

SEOUL, Oct. 15 (Korea Bizwire) – Revenue from shared accommodation in South Korea has increased more than tenfold over the past three years, with nearly half of the total income generated by individuals in their 20s and 30s, according to a recent analysis of National Tax Service data. Representative Cha Gyu-geun of the Rebuilding Korea Party [...]

Samsung Unveils AI-Powered Apartments, Setting New Standards for Smart Living

SEOUL, Sept. 2 (Korea Bizwire) –In a bold move that could redefine urban living, Samsung C&T’s construction division announced on Monday its plans to introduce a range of cutting-edge technologies in its upcoming apartment complex, Raemian Songdo Station Centripole, set to launch in Incheon’s Yeonsu district this October. The project, fully managed by Samsung C&T [...]

Banks Tighten Mortgage Restrictions Amid Concerns Over Rising Seoul Home Prices

SEOUL, Sept. 1 (Korea Bizwire) – Banks in South Korea started tightening curbs on mortgage loans on Sunday, officials said, amid concerns over rising housing prices in Seoul and household debts. The move came as the Financial Services Commission asked banks to toughen screenings for new mortgage borrowers and allow them to take out loans [...]

Conrad Seoul Hotel Sells for Over 400 Billion Won in Blockbuster Deal

SEOUL, Jun. 5 (Korea Bizwire) – The Conrad Seoul hotel in the Yeouido financial district has been sold for over 400 billion won, marking the largest single hotel transaction in South Korea this year, according to JLL, the global real estate services firm that advised on the deal. The sale represents the second-largest hotel transaction in [...]

Population Mobility Up in April amid Signs of Recovery in Property Market

SEOUL, May 29 (Korea Bizwire) -- The number of South Koreans who moved to different residences in the country increased in April from a year earlier amid signs of a recovery in the local property market, data showed Wednesday. Around 533,000 people changed residences last month, up 17.1 percent from a year earlier, according to [...]

Conflicts Mount as Daegu Confronts Surplus Apartments: Early Buyers Clash with Discounted Purchasers Amid Rising Tensions

DAEGU, May 20 (Korea Bizwire) – As unsold apartments pile up in Daegu, conflicts are intensifying between early buyers who paid premium prices and later buyers who secured units at significant discounts. The situation has reached a boiling point, with existing homeowners blocking apartment complexes to prevent discounted buyers from moving in. Residents of Villiv [...]

Seoul’s Wealthiest Landlords Earn 1.3 Billion Won Annually, Exposing Stark Income Disparities Across South Korea

SEOUL, May 20 (Korea Bizwire) – The average rental income for individuals in the top 0.1% of landlords residing in Seoul neared a staggering 1.3 billion won, highlighting a stark divide in the capital compared to other regions of South Korea. The average for this elite tier in Seoul was 4.7 times higher than in Sejong, [...]