JEJU, Feb. 16 (Korea Bizwire) — The amount of land owned by foreigners on South Korea’s southern resort island of Jeju decreased slightly last year, official data showed Sunday. According to the data released by Jeju’s provincial government, foreigners owned 22,548,255 square meters in 14,644 land on Jeju Island as of the end of last [...]
SEOUL, Dec. 22 (Korea Bizwire) — The number of people who own more than 10 homes in South Korea climbed to a new high last year, marking a turnaround from a slight drop the year before, data showed Sunday. As of end-2018, the number of people with 10 or more homes here came to 37,487, [...]
SEOUL, Dec. 6 (Korea Bizwire) — Eco-boomers, children of the Baby Boom generation, are rising as new consumers in the housing market. Eco-boomers refers to offspring of 7.2 million baby boomers (born between 1955 and 1963) at the age of 22 to 40 (born between 1979 and 1997). They are also known as the Generation [...]
SEOUL, Oct. 2 (Korea Bizwire) — There are thousands of ‘underage landlords’ in South Korea who own real estate and collect rent. Rep. Shim Ki-joon of the ruling Democratic Party reported that there were a total of 2,415 juveniles who profited from renting out real estate in 2017. The young landlords generated 50.4 billion won [...]
SEOUL, Sept. 24 (Korea Bizwire) — The number of homes in South Korea has increased by nearly 5 million over the past decade and more than half of them have been purchased by buyers who already own at least one home, according to a report released Tuesday. The Citizens’ Coalition for Economic Justice (CCEJ), an [...]
SEOUL, Jun. 13 (Korea Bizwire) — Private investors in the real estate market are turning to Real Estate Investment Trusts (REITs) as the market is suffering from an overall slump following government restrictions. SG Lab, a research arm of the South Korean real estate marketing firm MB& Holdings Co., reported that the number of REITs [...]
SEOUL, Mar. 28 (Korea Bizwire) — An average landlord in South Korea owed 200 million won (US$176,000) to financial institutions last year, a central bank report showed Thursday. According to the Financial Stability Report submitted by the Bank of Korea (BOK) to parliament, the total financial debt of households that lease homes and commercial buildings [...]
TORONTO, Jan. 22 (Korea Bizwire) — Altus Group Limited (“Altus Group”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate (“CRE”) industry, today released the latest Altus Group CRE Innovation Report. The report provides an outlook on technology trends impacting the global CRE industry and highlights [...]
SEOUL, Oct. 31 (Korea Bizwire) — In the near future, blockchain technology will be incorporated into real estate databases, allowing users to gain access to relevant official documents without having to submit physical certifications. The Ministry of Land, Infrastructure and Transport and the Ministry of Science and Technology yesterday revealed plans to create a real [...]
SEOUL, Oct. 22 (Korea Bizwire) — As the size of real estate-related financial funds and real estate investment trusts – also known as a type of “shadow banking system” – surpasses 300 trillion won, critics say that the government should do more to manage the risks involved with such investments. According to a financial brief [...]