home ownership Archives | Be Korea-savvy

Homeownership Rates Among Newlyweds Drop, Majority Hold Mortgages, and Incomes Rise

SEJONG, Dec. 12 (Korea Bizwire) – In a recent report from Statistics Korea, it was revealed that less than half of newlywed couples own homes, with a significant percentage of them carrying mortgage debt. Furthermore, dual-income couples have seen a slight increase in their annual incomes, with the average surpassing 84 million won. According to data [...]

Average Home Ownership Age in S. Korea is 43, Newlyweds Rely on Loans

SEOUL, Jun. 25 (Korea Bizwire) — Recently, it was revealed that South Koreans bought their first home at an average age of 43. However, the word ‘first home’ is just a saying for 38 percent of housing prices are covered by loans from banks and other financial institutions. According to the survey of 61,275 households [...]