SEOUL, Nov. 13 (Korea Bizwire) – A new government study has revealed stark regional differences in factors affecting South Korea’s declining birth rates, with housing costs being the primary concern in the Seoul metropolitan area while job insecurity drives low fertility rates in other regions. The Korea Research Institute for Human Settlements (KRIHS) released these findings [...]
SEOUL, Sept. 10 (Korea Bizwire) – The disparities in South Korea’s apartment market are becoming increasingly pronounced, with a widening gap between the capital region and other parts of the country, according to a recent report on real estate auctions. Data released on September 9 by GG Auction, a specialist in foreclosure and public auction information, [...]
SEOUL, Sept. 5 (Korea Bizwire) – A new study has revealed the stark reality of homeownership in South Korea’s capital, where the average family would need to save their entire income for over a decade to afford a mid-priced apartment. According to data from KB Real Estate Data Hub released on September 3, a household with [...]
SEOUL, Jul. 10 (Korea Bizwire) — Finance Minister Choi Sang-mok said Wednesday that the government will devise measures to increase housing supply if needed, as South Korea has seen growing volatility in the real estate market. “Volatility has risen in the real estate market as housing prices have gone up in Seoul and some adjacent [...]
SEOUL, Jun. 4 (Korea Bizwire) – A household headed by someone in their 20s would need to save for 86.4 years to afford an apartment in Seoul through savings alone, according to a new analysis that highlights the daunting challenges facing the younger generation in the country’s real estate market. The study, released on June 3 [...]
SEOUL, Mar. 15 (Korea Bizwire) – Criticism is mounting over the severe financial strain that housing costs are placing on young people in Seoul. Recent figures have shown that the average monthly rent for small apartments in Seoul, specifically those under 33 square meters in size and with a security deposit below 50 million won, now [...]
SEOUL, Mar. 15 (Korea Bizwire) – A recent study has revealed that 7 out of 10 young adults aged 25 to 39, residing with their parents in apartments, have no immediate plans to live independently until marriage. The study, titled ‘Trend Report: The Kangaroo Tribe,’ was released on March 14 by Focus Media Korea, the operator [...]
SEOUL, Mar. 4 (Korea Bizwire) – As predictions of declining real estate values gain momentum, the scale of reverse mortgage guarantees in South Korea is set to hit an all-time high this year, signaling an increased adoption among homeowners. Reverse mortgages, available to individuals over 55, allow homeowners to secure a loan against their property to [...]
SEOUL, Feb. 26 (Korea Bizwire) – Amidst the ongoing economic challenges marked by high inflation and interest rates, recent data has revealed that individuals in their 30s and 40s who have taken on debt to purchase homes are the ones who have most drastically cut back on their spending following the rise in interest rates. A [...]
GIMPO, Jan. 12 (Korea Bizwire) – The city of Gimpo in Gyeonggi Province has decided to take legal action against a construction company, Y Construction, and its supervisory team for violating building height restrictions near Gimpo Airport, causing delays in apartment occupancy. The city announced on January 10 that it planned to file a complaint with [...]