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, [...]
SEOUL, April 6 (Korea Bizwire) — A substantial number of property buyers would be willing to sign contracts without visiting the property if real estate information is realized in three-dimensions (3D) or virtual reality (VR), a survey showed Monday. Zigbang Co., South Korea’s top real estate info application, conducted a survey of 1,152 people who [...]
TORONTO, Feb. 22 (Korea Bizwire) — Altus Group Limited (ʺAltus Groupʺ) (TSX: AIF), a leading provider of commercial real estate (“CRE”) services, software and data solutions, is pleased to announce that JLL, a global leader in commercial real estate professional services and investment management, has chosen to expand its use of ARGUS Enterprise (“AE”). Through this agreement, [...]
NEW YORK, Jan. 19 (Korea Bizwire) — Madison Realty Capital, a New York City based real estate private equity firm focused on debt and equity investment strategies, today announced it has provided $53 million in construction financing to Heritage Equity Partners, led by Toby Moskovits and Michael Lichtenstein, for a 150-unit ground-up multifamily development located [...]
SEOUL, Dec. 2 (Korea Bizwire) — Buying a house is often a competitive, costly and stressful process, especially so in Seoul, South Korea’s epicenter of politics, business, culture and education. For decades, buying an apartment in a decent neighborhood in the capital city has not been easy for a typical family, but it has become [...]
SEOUL, Nov. 3 (Korea Bizwire) — South Korea will raise government-set home prices for all types of real estate, including apartments and land, to up to 90 percent of their market prices in the next 10-15 years, the transport ministry said Tuesday. The government commissioned the Korea Research Institute for Human Settlements (KRIHS) in February [...]
SEOUL, Oct. 29 (Korea Bizwire) — Concerns are being raised as Chinese millionaires are reportedly purchasing additional luxury apartments in Seoul, further raising housing prices amid a lack of housing supply. Recently, a Chinese study-abroad student in his 30s was found to have purchased eight apartments across South Korea, seven of which were being rented [...]
SEOUL, Sept. 25 (Korea Bizwire) — As the COVID-19 pandemic drags on, the number of public auctions is picking up again in South Korea. According to an analysis of the Supreme Court’s auction information site by the real estate information platform Gzone, the number of court auctions fell to 7,317 in May and 7,638 in [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea will gradually provide a total of 360,000 housing units in Seoul by 2028 as part of its broad home supply plan to stabilize the real estate market, the transport ministry said Thursday. The government plans to supply the homes mainly to underprivileged people in the capital city [...]
SEOUL, Aug. 8 (Korea Bizwire) — When she was young, Jo Eun-bit loved to lose herself in the forests and mountains around her home in the outskirts of Seoul. She would seek comfort in the company of trees, which she would talk to as though they were neighbors or close friends. But over the years, [...]