SEJONG, March 16 (Korea Bizwire) – Statistics Korea has announced the launch of a new service called ‘Neighborhood I’d Like to Live in’, that makes use of statistical geographic information system (SGIS) data. The service provides useful information that can help homebuyers decide where to live. An individual know as ‘Lee’, who lived in Seoul for [...]
CHUNCHEON, March 14 (Korea Bizwire) – Gangwon Province is prolonging the effective period of the Real Estate Investment Immigration Act at the Alpensia resort in Pyeongchang. The Real Estate Investment Immigration Act was part of a strategy to attract foreign capital investment and successfully host the 2018 Winter Olympic Games. In 2011, Alpensia was designated as one [...]
SEJONG, March 14 (Korea Bizwire) – South Korea’s home sales plunged 24.9 percent last month from a year earlier as the local property market has shown some signs of a slowdown, government data showed Sunday. The number of home transactions reached 59,265 in February compared with a record 78,864 tallied a year ago, according to [...]
SEJONG, Feb. 22 (Korea Bizwire) – South Korea’s official average land prices rose at the fastest clip in six years in 2015 amid government-led property market boosting measures, government data showed Monday. Government-set land prices in the country’s 252 cities and districts rose 4.47 percent from a year earlier, slightly up from the previous year’s [...]
SEJONG, Feb. 14 (Korea Bizwire) – South Korea’s home sales plunged 21.4 percent last month from a year earlier due mainly to a base effect stemming from rapid growth posted last year, government data showed Sunday. The number of home transactions reached 62,365 in January compared with a record 79,320 tallied a year ago, according [...]
SEJONG, Feb. 3 (Korea Bizwire) – The government said Wednesday it will nurture the property market into becoming a high value-added service sector by boosting real estate investment funds in a bid to make it a new economic growth engine. The Ministry of Land, Infrastructure and Transport said it will lower barriers and give tax [...]
SEOUL, Jan.29 (Korea Bizwire) – According to Money Today, a Korean newspaper, the Korea Association of Realtors is resisting the entrance of lawyers into the real estate business. Consumers are also interested in the matter in hopes of lowered commissions. The Korea Association of Realtors announced that it will be filing a suit against Trust [...]
SEOUL, Jan.4 (Korea Bizwire) – With Korean internet giants Naver and Kakao bolstering their mobile real estate service offerings, competition is becoming fierce. The mobile real estate brokerage market, which has been lead by startups like ZigBang, is expected to grow significantly this year. According to industry reports, Naver has launched the official version of [...]
SEJONG, Dec.23 (Korea Bizwire) – The fifth Universal Studios theme park in the world will be built in Hwaseong, Gyeonggi Province. The Korea Water Resources Corporation announced that it had selected the Universal Studios Korea (USK) consortium as the preferred bidder for the Songsan Green City International Theme Park. The consortium consists of five companies [...]
SEOUL, Nov. 19 (Korea Bizwire) – South Korean banks will likely impose tougher rules for screening mortgages in non-capital areas starting next year, joining government-led efforts to rein in the country’s runaway household debt, industry sources said Thursday. The financial authorities have asked local banks to use the debt-to-income (DTI) ratio when they screen mortgage [...]