SEOUL, Dec. 26 (Korea Bizwire) — Real estate experts forecast a market downturn throughout the country next year, although some see a chance of an increase in prices in the capital area, a survey showed Wednesday. According to a report from KB Financial Group’s research institute, 70.5 percent of 112 people specialized in the property [...]
SEOUL, Nov. 30 (Korea Bizwire) — Households may have to cope with higher mortgage rates as the Bank of Korea (BOK) raised its key interest rate for the first time in a year, market watchers said Friday. In a widely anticipated move to cool property prices, the BOK lifted its key rate by 25 basis [...]
SEOUL, Nov. 9 (Korea Bizwire) — Being a homeowner has become more difficult for Hwang Jin-kyu, a 38-year-old software engineer who has been trying to buy a three-bedroom apartment in northern Seoul for months. He sought to borrow about 200 million won (US$178,300) from a bank to buy the 79.3-square-meter home, but his application for [...]
SEOUL, Nov. 8 (Korea Bizwire) — A significant portion of the empty office space currently available at Lotte World Tower will soon be taken up by the company’s subsidiaries. By doing so, Seoul’s newest landmark building is expected to lower its vacancy levels from the current 60 percent to 30 percent. According to an announcement [...]
SEOUL, Nov. 4 (Korea Bizwire) — The price gap between South Korea’s most expensive apartments and its cheapest ones widened to a more-than-seven-year high last month amid an overheated urban real estate market, industry data showed Sunday. According to the data compiled by Kookmin Bank, apartment prices in the top 20 percent group reached an [...]
SEOUL, Oct. 31 (Korea Bizwire) — The first apartment complex in South Korea armed with an air filtering function has made its reveal. The Seoul Housing & Communities Corp. (SH) painted the exterior of an apartment complex in Seoul with a type of photocatalyst paint that helps remove nitrogen oxide and sulfur oxides, the main [...]
SEOUL, Oct. 31 (Korea Bizwire) — In the near future, blockchain technology will be incorporated into real estate databases, allowing users to gain access to relevant official documents without having to submit physical certifications. The Ministry of Land, Infrastructure and Transport and the Ministry of Science and Technology yesterday revealed plans to create a real [...]
SEOUL, Oct. 10 (Korea Bizwire) —Various civic groups that claim the problem of land speculation in Korea cannot be overcome without increasing property holding tax have come together to launch a civic action coalition calling for stronger measures. Civic groups such as Citizens’ Coalition for Economic Justice and Mibyun’s Committee on People’s Livelihood & Economy [...]
SEOUL, Oct. 9 (Korea Bizwire) – New data reveals that there are as many as 244 people who are minors “in charge of“ real estate leasing services in South Korea, and 23 of them were found to be high-income earners making more than 100 million won per year. Kim Doo-kwan, a member of the finance [...]
SEOUL, Oct. 4 (Korea Bizwire) — Real estate accounted for more than half of South Korean households’ total assets, with the rate of homes owned for investments far higher compared to major economies, a report showed Thursday. It is based upon an analysis of features of household assets in five nations — South Korea, the [...]