SEOUL, April 25 (Korea Bizwire) — The number of apartments that median income households can afford to buy in Seoul has declined sharply over the past five years, primarily due to a surge in housing prices. According to the data that Rep. Chung Woo-taik of the People Power Party received from the National Assembly Budget [...]
SEOUL, Dec. 1 (Korea Bizwire) — The government said Tuesday it will promote wider access to real estate-related public data as a way to cultivate the real estate service industry, including “proptech (property technology).” As the first step in this move, the government decided to expand access to the real-estate public data that is a [...]
SEOUL, Nov. 3 (Korea Bizwire) – Online-based real estate startups are bulking up rapidly, bringing about a new trend in the South Korean real estate market. Dawin Property, a real estate brokerage firm, recently attracted an investment of 3 billion won (US$2.54 million) from SoftBank Ventures Asia Corp. and Fast Ventures, according to industry sources. [...]
SEOUL, June 18 (Korea Bizwire) — Kim Hyun-seop buys a lottery ticket once in a while, hoping to get on the fast track to his dream: buying a decent home in Seoul. The 40-year-old office worker commutes from an apartment in Ilsan in northern Gyeonggi Province to the Gangnam district in southern Seoul, which takes [...]
SEOUL, Sept. 25 (Korea Bizwire) — The number of new real estate agencies in South Korea fell more than 11 percent in August amid a nationwide tumble in housing transactions, data showed Friday. A total of 1,302 estate agencies newly opened across the nation last month, down 11.3 percent from the previous month, according to [...]
SEOUL, Aug. 3 (Korea Bizwire) — “Jeonse” (long-term deposit rental system) versus “weolse” (monthly rent). That has emerged as the hottest topic in local political circles since new laws intended to protect tenants from landlords and excessive rent increases went into effect at the end of July. Jeonse refers to a unique Korean system in [...]
SEOUL, July 31 (Korea Bizwire) — Laws designed to protect tenants went into effect on Friday as the government seeks to enhance tenants’ rights in the face of rising home prices. On Thursday, the National Assembly passed two of three bills aimed at protecting tenants. The new legislation on housing leases will allow tenants to [...]
SEOUL, July 26 (Korea Bizwire) — Korea Investment Corp. (KIC), South Korea’s US$157 billion sovereign wealth fund, is seeking to buy commercial properties in Europe and China, the company’s top executive has said, in what could be its latest alternative investments. “We are considering making investments one each in Europe and in China,” KIC Chairman [...]
SEOUL, April 16 (Korea Bizwire) — The rent reduction campaign, in which landlords lower store rents for small business owners affected by the new coronavirus outbreak is spreading throughout the country. The Ministry of SMEs and Startups said Wednesday that 3,425 property owners in individual shopping complexes and 513 in traditional markets across the country [...]
SEOUL, April 3 (Korea Bizwire) — The portion of real estate investments by wealthy Koreans with more than 1 billion won (US$814,800) in financial assets has decreased over the past six years, according to a recent report. The preference of index-linked products, which have been considered the most sought-after financial instruments by the rich, also [...]