SEOUL, Feb. 3 (Korea Bizwire) — The popularity of commercial properties in South Korea’s auction market has waned significantly, with both successful bid rates and price ratios falling as businesses struggle with decreased sales during the economic downturn. According to data from GG Auction, a specialized auction data firm, Seoul saw 258 commercial property auctions from [...]
SEJONG, Oct. 19 (Korea Bizwire) – The number of individuals inheriting property valued at more than 10 billion won has almost doubled over the past four years, with the total value of their inherited property estimated at 39 trillion won last year. According to data from the National Tax Service released on Wednesday, the number of individuals [...]
SEOUL, March 23 (Korea Bizwire) — South Korea said Wednesday it plans to temporarily ease property-related tax burdens on owners of a single home amid public discontent about the government’s housing policy and sharply increased home prices. This year, the government plans to have owners of one home pay similar amounts of property-holding taxes to [...]
SOUTHAMPTON, N.Y., March 16 (Korea Bizwire) — Looking for turnkey, inviting elegance with proximity to beaches? Look no further. Positioned just four houses from the Atlantic Ocean and sequestered behind tall privet hedges and a security gate lies this new stucco and shingle manse in the Village of Southampton. A European sensibility is evident here in [...]
SOUTHAMPTON, N.Y., March 4 (Korea Bizwire) — It starts with a strong vision. More than creating the home of one’s dreams, the opportunity to create a legacy doesn’t come along often. “That is why we are extremely honored to offer one of the most prized, oceanfront lots in all of the Hamptons to build a [...]
SEOUL, June 18 (Korea Bizwire) — Kim Hyun-seop buys a lottery ticket once in a while, hoping to get on the fast track to his dream: buying a decent home in Seoul. The 40-year-old office worker commutes from an apartment in Ilsan in northern Gyeonggi Province to the Gangnam district in southern Seoul, which takes [...]
New York, NY, Oct. 23 (Korea Bizwire) — MAG Partners today announced that it has secured a $173 million construction loan from Madison Realty Capital that will allow work to commence next month on a 479-unit rental residential building at 241 W. 28th Street in Chelsea. The project will be developed under the Affordable NY program [...]
SEOUL, June 17 (Korea Bizwire) — South Korea said Wednesday that it will further tighten lending rules and designate more areas subject to tighter regulations in an effort to stem a further rise in housing prices. The government rolled out its toughest measures yet to stem rising housing prices in greater Seoul and some unregulated [...]
SEOUL, Oct. 5 (Korea Bizwire) — A 41 year-old office worker earned a windfall of 80 million won (US$71,000) over a canceled apartment transaction, a case that underscores the recent rapid surge in home prices in Seoul. The salaried worker of a major South Korean conglomerate made a down payment of 10 percent of the [...]
SEOUL, Aug. 1 (Korea Bizwire) — A South Korean court has found that the Korean cartoon character “Robot Taekwon V” is a separate property, with independent copyright that is distinguished from “Mazinger Z,” its Japanese counterpart. In a case filed against an importer of toy goods by the “Robot Taekwon V” company, the court ordered [...]