seoul apartment Archives | Be Korea-savvy

Young Adults Must Save for 15 Years to Buy Apartment in Seoul

SEOUL, Sept. 26 (Korea Bizwire) –A new study has found that young adult couples in their 20s and 30s must save up for more than 15 years without spending a single cent in order to purchase a respectable apartment unit in Seoul. According to Statistics Korea, the average monthly disposable income for households under 39 [...]

Low-Income Bracket Drives Monthly Rent Growth

SEOUL, Dec. 14 (Korea Bizwire) – Of the South Korean households that are renters, 60.5 percent utilize “wolse”, or monthly payment rental systems, boosted by a growing low-income bracket. According to the Korea National Council of Consumer Organizations, the percentage of households renting using “jeonse” – a key money deposit system usually requiring a lump-sum [...]