SEOUL, Dec. 17 (Korea Bizwire) – The number of properties auctioned off due to loan defaults in South Korea is on track to hit its highest level in 11 years, reflecting the combined impact of soaring interest rates and a sluggish real estate market. Sharp Rise in Property Auctions Data from the Court Registration Information Plaza [...]
SEOUL, Nov. 21 (Korea Bizwire) – Seoul’s bustling Myeong-dong district has emerged as the ninth most expensive retail location globally, according to a new report by Cushman & Wakefield Korea. The real estate services firm analyzed retail rental prices in 138 major cities, revealing that Myeong-dong’s annual average rent per square meter reached ₩10.32 million, a [...]
SEOUL, Oct. 15 (Korea Bizwire) – Revenue from shared accommodation in South Korea has increased more than tenfold over the past three years, with nearly half of the total income generated by individuals in their 20s and 30s, according to a recent analysis of National Tax Service data. Representative Cha Gyu-geun of the Rebuilding Korea Party [...]
SEOUL, Sept. 2 (Korea Bizwire) –In a bold move that could redefine urban living, Samsung C&T’s construction division announced on Monday its plans to introduce a range of cutting-edge technologies in its upcoming apartment complex, Raemian Songdo Station Centripole, set to launch in Incheon’s Yeonsu district this October. The project, fully managed by Samsung C&T [...]
SEOUL, Sept. 1 (Korea Bizwire) – Banks in South Korea started tightening curbs on mortgage loans on Sunday, officials said, amid concerns over rising housing prices in Seoul and household debts. The move came as the Financial Services Commission asked banks to toughen screenings for new mortgage borrowers and allow them to take out loans [...]
SEOUL, Jun. 5 (Korea Bizwire) – The Conrad Seoul hotel in the Yeouido financial district has been sold for over 400 billion won, marking the largest single hotel transaction in South Korea this year, according to JLL, the global real estate services firm that advised on the deal. The sale represents the second-largest hotel transaction in [...]
SEOUL, May 29 (Korea Bizwire) -- The number of South Koreans who moved to different residences in the country increased in April from a year earlier amid signs of a recovery in the local property market, data showed Wednesday. Around 533,000 people changed residences last month, up 17.1 percent from a year earlier, according to [...]
DAEGU, May 20 (Korea Bizwire) – As unsold apartments pile up in Daegu, conflicts are intensifying between early buyers who paid premium prices and later buyers who secured units at significant discounts. The situation has reached a boiling point, with existing homeowners blocking apartment complexes to prevent discounted buyers from moving in. Residents of Villiv [...]
SEOUL, May 20 (Korea Bizwire) – The average rental income for individuals in the top 0.1% of landlords residing in Seoul neared a staggering 1.3 billion won, highlighting a stark divide in the capital compared to other regions of South Korea. The average for this elite tier in Seoul was 4.7 times higher than in Sejong, [...]
SEOUL, Apr. 26 (Korea Bizwire) – Housing expenses represent the biggest monthly financial burden for four out of 10 people in their 20s and 30s in South Korea, according to a recent survey, highlighting the challenges of expensive housing costs for young adults in the country. The poll of 1,547 people in their 20s and 30s, [...]