real estate Archives | Be Korea-savvy
4 in 10 Real Estate-linked Ranking Officials Own More than Two Homes

4 in 10 Real Estate-linked Ranking Officials Own More than Two Homes

SEOUL, Aug. 6 (Korea Bizwire) — Four in 10 high-ranking officials at the government’s ministries and institutions involved in the formulation of real estate and financial market policies are multiple homeowners, a civic group revealed Thursday, raising concerns about a possible conflict between their official duties and private interests. According to the Citizens’ Coalition for [...]

Seoul’s Last-ditch Home Supply Plan Still in Doubt over its Viability

Seoul’s Last-ditch Home Supply Plan Still in Doubt over its Viability

SEOUL, Aug. 4 (Korea Bizwire) — South Korea on Tuesday unveiled an unprecedented plan to supply more than 130,000 homes in Seoul and adjacent areas over the next eight years in its latest struggle to contain a further rise in housing prices, which have even dragged down the Moon Jae-in administration’s approval ratings. But the [...]

Multiple Home-owning Politicians, Officials Under Growing Pressure to Sell

Multiple Home-owning Politicians, Officials Under Growing Pressure to Sell

SEOUL, July 8 (Korea Bizwire) — Politicians and high-rank government officials owning more than one house are coming under growing pressure to dispose of properties as the government is preparing steps to hike tax burdens for owners of multiple homes in efforts to curb soaring housing prices. Housing prices have continued to surge in many [...]

S. Korea to Further Tighten Property Rules, Expand Regulated Areas to Curb Rising Home Prices

S. Korea to Further Tighten Property Rules, Expand Regulated Areas to Curb Rising Home Prices

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 [...]

Gov’t Moves to Convert Commercial Real Estate into Public Housing

Gov’t Moves to Convert Commercial Real Estate into Public Housing

SEOUL, May 7 (Korea Bizwire) — A plan will be implemented to renovate empty offices or shops in downtown Seoul and supply them to single-person households, including car-free youth. Announcing measures to supply housing in the metropolitan area Wednesday, the Ministry of Land, Infrastructure and Transport proposed a solution to renovate empty offices and shops [...]

Wealthy S. Koreans Moving Away from Real Estate Investments

Wealthy S. Koreans Moving Away from Real Estate Investments

SEOUL, April 3 (Korea Bizwire) — The portion of real estate investments by wealthy Koreans with more than 1 billion won (US$814,800) in financial assets has decreased over the past six years, according to a recent report. The preference of index-linked products, which have been considered the most sought-after financial instruments by the rich, also [...]