SEOUL, March 27 (Korea Bizwire) – The estimated value of land owned by South Korea’s 10 biggest business groups rose to a record high last year due in part to the purchase of the headquarters of the Korea Power Electric Corp. (KEPCO) by Hyundai Motors Co. and its affiliates, a market researcher said Monday. Hyundai [...]
SEOUL, March 23 (Korea Bizwire) – With many modern Koreans confined t0 cities but longing to get in touch with nature, demand for houses and residential buildings with terraces is growing quickly. Over the last two years, more than 5,000 ‘terrace’ housing units in 16 apartment complexes were sold, according to a study conducted by Shim [...]
SEOUL, March 9 (Korea Bizwire) – The net income of South Korea’s real estate trust companies hit an all-time high last year, with interest rates staying low and newly built apartments selling like hotcakes, data showed Thursday. Eleven such firms here reported combined net profits of 393.3 billion won (US$343 million) last year, up 77 [...]
SEOUL, March 7 (Korea Bizwire) – The issuance of asset-backed securities (ABS) in South Korea tumbled nearly 27 percent in 2016 from a year earlier as the local property market remained sluggish, data showed Tuesday. The amount of ABS issues totaled 60.7 trillion won (US$52.6 billion) last year, down 26.8 percent from the previous year, [...]
SEOUL, March 2 (Korea Bizwire) – Returns from investments in studio apartments in South Korea edged down in February from a month earlier due to oversupply, data showed Thursday. The annual returns from investments in studio apartments, better known as “officetels” in South Korea, stood at 5.09 percent in February, down from 5.11 percent in [...]
SEOUL, Feb. 21 (Korea Bizwire) – Land owned by Chinese individuals and companies in South Korea has increased by more than five-fold over the past five years, a report showed on Tuesday. The amount of land owned by Chinese entities here came to 16.9 million square meters last year, marking a 486-percent hike from 3.7 [...]
SEJONG, Feb. 16 (Korea Bizwire) – Residents of Seoul moved out of the capital city last year in the largest number in 19 years, national statistics showed Thursday, apparently driven out by costly housing and lack of jobs. The yearly tally released by Statistics Korea showed 140,000 people moved out of Seoul, the highest number [...]
SEJONG, Feb. 14 (Korea Bizwire) – South Korea’s home transactions dropped more than 6 percent from a year earlier last month, government data showed Tuesday, as investors stayed cautious amid growing uncertainties at home and abroad. The number of home transactions came to 58,539 in January, down 6.1 percent from the same month in 2016, [...]
SEOUL, Jan. 4 (Korea Bizwire) – A rise in home prices tended to lower the birthrate, a trend that existed regardless of whether the economy was good or bad, a report from a local institute said Wednesday. The Korea Institute of Child Care and Education followed the changes in home prices and their correlation to [...]
SEOUL, Jan. 4 (Korea Bizwire) – The growth of mortgage loans in South Korea markedly slowed last month amid indications of interest rate hikes and a downturn in the real estate market, data showed Wednesday. Outstanding home-backed loans extended by six major banks here – KB Koomin, Shinhan, Woori, KEB Hana, NH and the Industrial [...]