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Madison Realty Capital Completes Record 2021 with $6.4 Billion in Transaction Volume Across 72 Deals and Raises Largest Debt Fund Ever at $2.08 Billion

New York, Jan. 20 (Korea Bizwire) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced the completion of one of the most active years in the firm’s 17-year history. 2021’s notable highlights include: Closing a record $6.4 billion in total deal volume in [...]

Busan Opens Real Estate Funds to Retail Investors Using Blockchain Technology

BUSAN, Dec. 16 (Korea Bizwire) — The city of Busan is turning to blockchain technology to open a new era for retail investors looking to make small purchases of real estate funds. The Busan Blockchain Real-estate Investment Currency (BBRIC), a demonstration project for the Busan metropolitan city government’s blockchain regulation-free special zone, was launched on [...]

Gov’t to Promote Wider Access to Real Estate Big Data to Nurture ‘Proptech’ Industry

SEOUL, Dec. 1 (Korea Bizwire) — The government said Tuesday it will promote wider access to real estate-related public data as a way to cultivate the real estate service industry, including “proptech (property technology).” As the first step in this move, the government decided to expand access to the real-estate public data that is a [...]

Lack of Regulations for Foreigners’ Real Estate Transactions Triggers Controversy over Reverse Discrimination

SEOUL, Nov. 4 (Korea Bizwire) — While South Koreans’ real estate transactions remain frozen due to the government’s strong regulations, such transactions by foreigners hit an all-time high, triggering controversy over reverse discrimination. According to the data from the Korea Real Estate Board, foreigners’ transactions in South Korean land and properties in the January to [...]

Online Real Estate Brokerage Market Expands at a Healthy Pace

SEOUL, Nov. 3 (Korea Bizwire) – Online-based real estate startups are bulking up rapidly, bringing about a new trend in the South Korean real estate market. Dawin Property, a real estate brokerage firm, recently attracted an investment of 3 billion won (US$2.54 million) from SoftBank Ventures Asia Corp. and Fast Ventures, according to industry sources. [...]

Property Rental Firms Shine Over Past 5 yrs on Market Boom

SEJONG, Oct. 8 (Korea Bizwire) — Real estate rental businesses in South Korea have been on a roll over the past five years amid a booming property market, data showed Friday. Property leasing companies in Asia’s fourth-largest economy registered 453.3 trillion won (US$381 billion) in combined revenue between 2016-20, according to the data that the [...]

National Assembly Steps Up to Restrict Foreigners from Buying Real Estate

SEOUL, July 28 (Korea Bizwire) — South Korean politicians are stepping up to address concerns over Chinese nationals purchasing real estate in the country. China, under a communist regime, strictly forbids South Koreans from purchasing real estate in their territory. On the other hand, South Korea has barely any restrictions on real estate purchases by [...]

S. Korea Toughens Regulations on Public Servants’ Real Estate

SEOUL, June 20 (Korea Bizwire) — Government officials and public employees involved in real estate affairs will be required to register their assets with the authorities, the Ministry of Personnel Management said Sunday. The ministry last week preannounced the latest revision to the enforcement ordinance of the Public Service Ethics Act. The new rules will [...]

Mobile Real Estate Apps Offer 3D Apartment Tours

SEOUL, May 20 (Korea Bizwire) — The spread of contactless transactions following the onset of the coronavirus pandemic is changing the landscape of the market for so called ‘proptech’ firms, those dealing with technology purpose-built for the real estate market. Zigbang Co., South Korea’s top real estate info application, recently introduced a 3D apartment complex [...]

Commercial Property Vacancy Rate Inches Up amid COVID-19 Shock

SEOUL, April 29 (Korea Bizwire) — With the prolonged COVID-19 outbreak resulting in restrictions on socializing, South Korea’s commercial property vacancy rate continues to rise. The vacancy rate of mid and large-sized commercial properties across the country averaged 13 percent in the first quarter of this year, up 0.6 percentage points from the previous quarter, [...]