Real Estate Market Archives | Page 2 of 36 | Be Korea-savvy

Archive by category Real Estate Market

New Property Developer Registrations Hit Record High Despite Plunge in Housing Transactions

New Property Developer Registrations Hit Record High Despite Plunge in Housing Transactions

SEOUL, Aug. 24 (Korea Bizwire) — The number of new property developer registrations reached an all-time high in the first half of this year despite the real estate market’s entry into an adjustment phase, thanks to rising demand for the development of non-residential buildings, including shopping centers. According to the Ministry of Land, Infrastructure and [...]

Seoul to Weed Out Basement, Semi-basement Homes Following Flooding Deaths of Family

Seoul to Weed Out Basement, Semi-basement Homes Following Flooding Deaths of Family

SEOUL, Aug. 10 (Korea Bizwire) — The city government of Seoul will no longer give permission to construct basement or semi-basement homes, while pushing to gradually weed out existing subterranean homes, officials said Wednesday. The plan follows the deaths of three family members in a flooded semi-basement home in Seoul’s Gwanak district Monday night when [...]

3 Construction Firms Team Up to Address Inter-floor Noise

3 Construction Firms Team Up to Address Inter-floor Noise

SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s major construction firms are banding together to address inter-floor noise, which has emerged as a major social problem in recent years. Samsung C&T Corp., the construction unit of Samsung Group, announced that it recently signed an agreement with POSCO Engineering & Construction Co. and Lotte Engineering & [...]

S. Korea to Sell State-owned Idle Assets over Next 5 Years

S. Korea to Sell State-owned Idle Assets over Next 5 Years

SEOUL, Aug. 8 (Korea Bizwire) — South Korea plans to sell state-owned unused and idle lands and buildings over the next five years in a bid to bolster public finances, the finance ministry said Monday. The government said it plans to push to sell assets worth 16 trillion won (US$12.3 billion) and more in the [...]

Apartment Transactions Plunge in H1 on Lending Curbs, Rate Hikes

Apartment Transactions Plunge in H1 on Lending Curbs, Rate Hikes

SEOUL, July 31 (Korea Bizwire) — Apartment transactions in South Korea fell more than 50 percent on-year in the first half of 2022 due mainly to the government’s tough lending curbs and rising interest rates, data showed Sunday. The number of apartments traded nationwide stood at 184,134 units in the January-June period, down 50.6 percent [...]

Rising Housing Prices Undermine Marriage and Childbirth: Study

Rising Housing Prices Undermine Marriage and Childbirth: Study

SEOUL, July 29 (Korea Bizwire) — Increases in the price of housing have a negative impact on the rate of marriage and childbirth, a report showed Thursday. The Korea Institute of Public Finance conducted a survey on employees at public agencies, which showed that a 100 percent rise in housing prices resulted in 0.1 to 0.3 [...]

Seoul’s Average Apartment Price Jumps Nearly Fourfold in 18 yrs

Seoul’s Average Apartment Price Jumps Nearly Fourfold in 18 yrs

SEOUL, July 19 (Korea Bizwire) — The average price of an apartment in Seoul has shot up nearly fourfold in the past 18 years after more than doubling under the previous Moon Jae-in administration alone, a civic group analysis showed Tuesday. A 99.1-square-meter apartment in the capital fetched 1.28 billion won (US$973,162) on average as [...]

SK ecoplant Developing Recycling Technology for Waste Incineration Ash

SK ecoplant Developing Recycling Technology for Waste Incineration Ash

SEOUL, July 15 (Korea Bizwire) — South Korean builder SK ecoplant Co. said Thursday it was launching a drive to recycle waste incineration ash as a construction material. The company joined hands with CMD Group, a specialist in the manufacturing of eco-friendly construction materials, to promote technological cooperation and to produce block aggregates made of [...]

Court Rules In Favor of Comprehensive Real Estate Holding Tax

Court Rules In Favor of Comprehensive Real Estate Holding Tax

SEOUL, July 14 (Korea Bizwire) — A local court on Thursday ruled in favor of the comprehensive real estate holding tax, a controversial additional tax burden imposed on expensive house owners. The Seoul Administrative Court rejected two lawsuits filed separately by two Seoul residents demanding that comprehensive real estate holding taxes levied on their respective [...]