SEOUL, March 28 (Korea Bizwire) — A new government report has revealed a growing polarization in housing among young South Koreans in their early 30s, with more individuals shifting either into monthly rentals or homeownership—while the once-dominant jeonse (lump-sum deposit lease) model continues to decline. Published Wednesday by Statistics Korea’s National Statistical Research Institute, the [...]
SEOUL, March 19 (Korea Bizwire) — Acting President Choi Sang-mok said Wednesday the government will use all available resources to curb the rise in home prices. Choi made the remarks in an economy-related ministers’ meeting, noting, “Home prices have been on a recent rise in some parts of Seoul.” “We will view the situation seriously [...]
SEOUL, March 19 (Korea Bizwire) — The Seoul city government on Wednesday said it will temporarily adopt the “land transaction permission system” in four affluent districts of the capital to help stabilize the real estate market, less than five weeks after it lifted the same regulation in two of those districts. The government has designated [...]
SEOUL, March 5 (Korea Bizwire) — South Korea’s Presidential Committee on Aging Society and Population Policy announced on March 4 that it will begin formal discussions this month to develop its fifth basic plan (2026-2030) for addressing the nation’s declining birthrate and aging population challenges. The announcement follows the committee’s ninth emergency population meeting, held virtually [...]
SEOUL, Feb. 3 (Korea Bizwire) — In a sign of shifting market dynamics, new applications for reverse mortgages in South Korea increased while cancellations decreased as the real estate market showed signs of cooling at the end of last year. According to data from the Korea Housing Finance Corporation’s housing finance statistics system, new reverse mortgage [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korea’s Ministry of Land, Infrastructure, and Transport announced plans to increase the priority housing allocation for families with newborns under its special housing supply program for newlyweds. Under new rules, the allocation for such families will rise from 20% to 35%, reflecting a significant shift aimed at addressing [...]
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 [...]