SEOUL, Nov. 3 (Korea Bizwire) – The Ministry of Foreign Affairs’ announcement on October 31 that relations between South Korea and China will be normalized was music to the ears of the real estate industry, which has seen the market for high-end hotel room investors dwindle throughout the Chinese economic boycott. The geopolitical tensions and [...]
LOS ANGELES, Oct. 26 (Korea Bizwire) — Leading global commercial real estate services firm Colliers International Group Inc. (NASDAQ:CIGI) and (TSX:CIGI) today announced that Gil Borok has joined the company as Chief Operating Officer | USA. Borok, a seasoned commercial real estate services executive, will be responsible for managing the operations and finances of Colliers’ rapidly [...]
INCHEON, Oct. 24 (Korea Bizwire) — The development of Incheon Free Economic Zone, initially scheduled for completion by 2022, will be delayed to 2030 due to slowed investment in the aftermath of the global financial crisis and real estate market slump, officials said Tuesday. Known as IFEZ, the project was designated in August 2003 as [...]
SEJONG, Oct. 19 (Korea Bizwire) — U.S. citizens possessed half of all real estate owned by foreigners in South Korea, and the southern resort island of Jeju received the most investment under an accommodative visa policy, a parliamentary report showed Thursday. Foreigners held 233.5 million square meters of land nationwide as of the end of [...]
SEOUL, Aug. 9 (Korea Bizwire) — The way in which Naver is dealing with mobile searches for housing has ruffled feathers, as accusations that it is marginalizing its competitors’ websites in favor of its own services are increasing. According to industry sources, the tension between Naver and its clients-cum-competitors started to sizzle in May of this [...]
SEOUL, March 23 (Korea Bizwire) – With many modern Koreans confined t0 cities but longing to get in touch with nature, demand for houses and residential buildings with terraces is growing quickly. Over the last two years, more than 5,000 ‘terrace’ housing units in 16 apartment complexes were sold, according to a study conducted by Shim [...]
SEOUL, March 9 (Korea Bizwire) – The net income of South Korea’s real estate trust companies hit an all-time high last year, with interest rates staying low and newly built apartments selling like hotcakes, data showed Thursday. Eleven such firms here reported combined net profits of 393.3 billion won (US$343 million) last year, up 77 [...]
SEOUL, March 2 (Korea Bizwire) – Returns from investments in studio apartments in South Korea edged down in February from a month earlier due to oversupply, data showed Thursday. The annual returns from investments in studio apartments, better known as “officetels” in South Korea, stood at 5.09 percent in February, down from 5.11 percent in [...]
TORONTO, Mar. 1 (Korea Bizwire) — Colliers International Group Inc. (Nasdaq:CIGI) (TSX:CIGI) announced today that Matthias Leube has been appointed CEO of Colliers International Deutschland GmbH. Leube succeeds Achim Degen who has led the Colliers operations in Germany and will now return to his role as the Market Leader for our important Munich office. Leube joins [...]
SEOUL, Feb. 21 (Korea Bizwire) – Land owned by Chinese individuals and companies in South Korea has increased by more than five-fold over the past five years, a report showed on Tuesday. The amount of land owned by Chinese entities here came to 16.9 million square meters last year, marking a 486-percent hike from 3.7 [...]