SEOUL, Feb. 8 (Korea Bizwire) – South Korean construction companies racked up a record in domestic orders last year, aided by a boom in the local property market, offsetting a slump in overseas projects, industry data showed on Wednesday. According to the data compiled by the Construction Association of Korea, local builders received a record [...]
TORONTO, Jan. 12 (Korea Bizwire) — Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) announced today that it has acquired a controlling interest in Colliers International Denmark (“Colliers Denmark”). Senior management of Colliers Denmark will retain the balance of the equity under Colliers International’s unique enterprise partnership model. The acquisition [...]
SEOUL, Jan. 12 (Korea Bizwire) – The net asset of South Korea’s overseas investment fund is forecast to reach 100 trillion won (US$84.5 billion) soon, as investors are seeking higher returns amid declining rates, market watchers said Thursday. The figure hit a record high of 91.7 trillion won on Friday after surpassing the 90 trillion [...]
SEOUL, Jan. 4 (Korea Bizwire) – The growth of mortgage loans in South Korea markedly slowed last month amid indications of interest rate hikes and a downturn in the real estate market, data showed Wednesday. Outstanding home-backed loans extended by six major banks here – KB Koomin, Shinhan, Woori, KEB Hana, NH and the Industrial [...]
SEOUL, Dec. 22 (Korea Bizwire) – South Korean mortgage rates gained considerably in November from the previous month due to rising market interest ahead of a U.S. rate hike, data showed Thursday. Annual mortgage rates charged by South Korea’s top five lenders — KB Kookmin Bank, Shinhan Bank, Woori Bank, KEB Hana Bank and NH [...]
TORONTO, Dec. 15 (Korea Bizwire) – Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) announced today it has signed an Agreement and Plan of Merger (the “Merger Agreement”) with Colliers Parrish International Inc. (“CPI”), the largest independently owned affiliate of Colliers in the U.S. From offices in San Jose, Oakland, [...]
SEJONG, Dec. 15 (Korea Bizwire) – The home ownership rate in South Korea came to 56 percent in 2015, data showed Thursday. According to the annual data by Statistics Korea, 10.06 million households out of 19.11 million in the country owned homes as of Nov. 1, 2015. The latest data indicated that 44 percent of [...]
SEOUL, Aug. 8 (Korea Bizwire) – Nearly half of new apartment units in Seoul are smaller than 60 square meters, industry data showed Monday, reflecting the trend that more people prefer smaller housing. Of 15,980 apartment complexes built between January and August of this year, 45.1 percent, or 7,205 units, have a total floor area [...]
SEOUL, July 6 (Korea Bizwire) – South Koreans with financial assets worth more than 1 billion won (US$860,000) jumped 15.9 percent last year from a year earlier helped by increased returns from their investments in equities and real estate, a private think-tank report said Wednesday. The number of such deep-pocket Koreans climbed to 211,000 in [...]
SEOUL, May 30 (Korea Bizwire) – The Ministry of Land, Infrastructures and Transport (MOLIT) revealed Sunday that it plans to implement a policy called ‘lease and purchase REITs (Real Estate Investment Trusts) for newlyweds’, starting in September. But it’s also evaluating the possibility pushing the start date forward, before the beginning of autumn, which is [...]