real estate Archives | Be Korea-savvy
The Journey So Far Suggests Global Real Estate Market Stabilization to Take Hold Mid-2023

The Journey So Far Suggests Global Real Estate Market Stabilization to Take Hold Mid-2023

LONDON and TORONTO, Dec. 7 (Korea Bizwire) — After a volatile year of geopolitical tensions, economic shocks and uneven monetary policy, Colliers (NASDAQ and TSX: CIGI) anticipates the process of stabilization of the global real estate market to take hold by mid-2023 in its latest Global Investor Outlook. While some countries such as the UK and [...]

Real Estate Ownership Change from Forced Auctions Doubles in Seoul

Real Estate Ownership Change from Forced Auctions Doubles in Seoul

SEOUL, Nov. 28 (Korea Bizwire) — The number of residential properties whose ownership changed due to forced sale by auction marked a sharp increase this year compared to a year ago. According to the Supreme Court, the number of apartments, villas and residential officetels whose ownership shifted due to forced sale by auction stood at [...]

Real Estate Speculation by Foreigners on Rise in S. Korea

Real Estate Speculation by Foreigners on Rise in S. Korea

SEOUL, Oct. 28 (Korea Bizwire) — South Korea will continue to look into suspicious real estate transactions by foreigners as a recent investigation found increasing illegalities involving foreigners’ home purchases, the land ministry said Friday. The portion of suspicious home purchases by foreigners rose to 1.21 percent, or 6,772 cases, out of the country’s total [...]

S. Korean Property Prices Set to Continue to Lose Ground on High Interest Rates

S. Korean Property Prices Set to Continue to Lose Ground on High Interest Rates

SEOUL, Oct. 27 (Korea Bizwire) — South Korea’s property prices are expected to maintain a downward trend as interest rates are expected to stay high through at least early 2023, a state-run think tank said Thursday. The average price of houses in the greater Seoul area in the July-September period of 2022 decreased 1.19 percent [...]

S. Korea’s Top 100 Real Estate Investors Own More than 20,000 Homes

S. Korea’s Top 100 Real Estate Investors Own More than 20,000 Homes

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 [...]

Dobong District Launches Help Service for Single-person Households

Dobong District Launches Help Service for Single-person Households

SEOUL, Sept. 27 (Korea Bizwire) — The Dobong District Office in Seoul has announced the launch of a help service for single-person households looking for jeonse (long-term deposit rental system) or weolse (monthly rent) apartments, as part of efforts to address their difficulty in finding a stable place to live. To help single-person households, including [...]

New Property Developer Registrations Hit Record High Despite Plunge in Housing Transactions

New Property Developer Registrations Hit Record High Despite Plunge in Housing Transactions

SEOUL, Aug. 24 (Korea Bizwire) — The number of new property developer registrations reached an all-time high in the first half of this year despite the real estate market’s entry into an adjustment phase, thanks to rising demand for the development of non-residential buildings, including shopping centers. According to the Ministry of Land, Infrastructure and [...]

Tim Davis Announces Montauk Oceanfront Price Reduction to $16.5M

Tim Davis Announces Montauk Oceanfront Price Reduction to $16.5M

MONTAUK, N.Y., Aug. 19 (Korea Bizwire) — Principal interior designer and architect Thierry Despont is well known for creating luxurious spaces that blend comfort and warm sophistication. So when his clients decided to renovate their oceanfront haven, they called on him to elevate the already lovely home. “Imagine moving into a turnkey oceanfront residence by [...]