SEOUL, Nov. 13 (Korea Bizwire) – Foreign ownership of land in Seoul has inched up from a year earlier on the back of increased ownership of Chinese nationals, data showed Friday. According to the data by the Seoul Metropolitan Government, the amount of land owned by foreign investors and companies in the South Korean capital [...]
SEOUL, Nov. 11 (Korea Bizwire) – Household loans extended by local lenders increased at the fastest clip last month, central bank data showed Wednesday, amid the rising possibility of a looming U.S. rate hike. Outstanding household loans extended by local banks reached 624.8 trillion won (US$539.3 billion) as of the end of October, up 9 [...]
SEOUL, Sept. 10 (Korea Bizwire) – As the number of foreign residents continues to increase rapidly, the housing rental market targeting them is expanding and diversifying. According to real estate industry watchers, the preferred residential areas for foreigners are expanding from traditionally popular places like Hannam-dong, Itaewon and Yongsan to Mapo in Seoul, Songdo in Incheon and Pyeongtaek in Gyeonggi [...]
INCHEON, Sept. 9 (Korea Bizwire) – More than one trillion won is expected to be invested in the ‘Golden Harbor Development’ project at Incheon’s Songdo International Business District. The Incheon Port Authority announced that they will sign an MOU with BizPost Korea, an affiliate of the American corporation BizPost, related to investment in the Golden [...]
SEOUL, Sept. 2 (Korea Bizwire) — Financial assets of Korean households have turned out to be very low compared to other countries. Experts say that the phenomenon is due to the Korean household practice of having most major assets concentrated on real estate. According to the Korea Financial Investment Association, the portion of financial assets held [...]
SEOUL, Sept. 2 (Korea Bizwire) – The South Korean government will deploy drones to investigate national properties scattered at 5.4 million locations nationwide. The Ministry of Strategy and Finance announced plans on September 1 to properly manage the country’s national properties. By deploying drones and leveraging spatial geographic information, which is more accurate and advanced than aerial [...]
SEOUL, Aug. 10 (Korea Bizwire) – Under the current market conditions, attention is concentrated on profitable real estate. Due to continued low interest rates, the auction price ratio of business and commercial properties at court auctions exceeded 70 percent for the first time in nine years. The number of bids also reached an all time [...]
SEOUL, July 30 (Korea Bizwire) – Wealthy Chinese investors are eyeing real estate markets in Japan and Korea. According to the China Daily, big Chinese players are shifting their investment targets from Australia and the United States to Japan and Korea. Jeju Island in Korea and big cities in Japan like Tokyo, Osaka and Nagoya are [...]
SEOUL, July 29 (Korea Bizwire) – To purchase an apartment unit in Seoul, one would have to save their entire income for more than seven years. In its report on the current status and future prospects of the 2015 Real Estate Market released on July 28, the Korea Appraisal Board talked about the amount of time [...]
SUWON, Jun. 26 (Korea Bizwire) — Gyeonggi-do is planning to provide big-data based analysis on commercial areas for individuals or companies planning to open new businesses in the province. The Gyeonggi Provincial Assembly has pre-announced legislation for an ordinance to develop a system for the analysis, said the assembly on June 25. The system will [...]