SEOUL, Aug. 2 (Korea Bizwire) — The number of South Koreans facing housing problems, residing in shacks, vinyl greenhouses, or moving from one accommodation to another without a permanent place to stay, is on the rise. According to data from Statistics Korea, last year saw over 1.83 million household members living ‘outside of a house,’ [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s finance ministry said Thursday owners of two homes will pay less taxes if they dispose of one of them during an extended period amid a slump in the home market. Under the plan, such homeowners will not be subject to heavier taxation if they offload one of [...]
SEOUL, Sept. 30 (Korea Bizwire) — South Korea’s top landlords own more than 20,000 homes, data showed Thursday. Rep. Kim Hoi-jae of the Democratic Party referred to a Statistics Korea report indicating that the 100 South Koreans with the largest real estate holdings owned a total of 20,689 homes as of 2020. Jointly owned homes [...]
SEOUL, Sept. 28 (Korea Bizwire) — The government on Tuesday announced a plan to buy semi-basement homes with a high risk of being flooded and rebuild them as above-ground homes. To this end, the government plans to provide a variety of support aimed at helping underground dwellers move to above-ground homes. According to the Ministry [...]
SEOUL, Aug. 10 (Korea Bizwire) — The city government of Seoul will no longer give permission to construct basement or semi-basement homes, while pushing to gradually weed out existing subterranean homes, officials said Wednesday. The plan follows the deaths of three family members in a flooded semi-basement home in Seoul’s Gwanak district Monday night when [...]
SEOUL, May 13 (Korea Bizwire) — Seoul citizens choose to move to neighboring Incheon and Gyeonggi Province not just to find cheap, affordable homes but to move to a new, quality residences, a survey showed Thursday. The Seoul Institute conducted a survey of 2,085 residents in Seoul, Incheon and Gyeonggi Province who had moved in [...]
SEJONG, Nov. 19 (Korea Bizwire) — The number of apartments owned by households in South Korea came to 9.03 million in 2018, accounting for 59 percent of all homes across the country, government data showed Tuesday. The figures represent a 3.9 percentage-point hike from 8.7 million apartments owned by households in South Korea in 2017, [...]