SEOUL, Jun. 5 (Korea Bizwire) – The Conrad Seoul hotel in the Yeouido financial district has been sold for over 400 billion won, marking the largest single hotel transaction in South Korea this year, according to JLL, the global real estate services firm that advised on the deal. The sale represents the second-largest hotel transaction in [...]
SEOUL, May 29 (Korea Bizwire) -- The number of South Koreans who moved to different residences in the country increased in April from a year earlier amid signs of a recovery in the local property market, data showed Wednesday. Around 533,000 people changed residences last month, up 17.1 percent from a year earlier, according to [...]
DAEGU, May 20 (Korea Bizwire) – As unsold apartments pile up in Daegu, conflicts are intensifying between early buyers who paid premium prices and later buyers who secured units at significant discounts. The situation has reached a boiling point, with existing homeowners blocking apartment complexes to prevent discounted buyers from moving in. Residents of Villiv [...]
SEOUL, May 20 (Korea Bizwire) – The average rental income for individuals in the top 0.1% of landlords residing in Seoul neared a staggering 1.3 billion won, highlighting a stark divide in the capital compared to other regions of South Korea. The average for this elite tier in Seoul was 4.7 times higher than in Sejong, [...]
SEOUL, Apr. 26 (Korea Bizwire) – Housing expenses represent the biggest monthly financial burden for four out of 10 people in their 20s and 30s in South Korea, according to a recent survey, highlighting the challenges of expensive housing costs for young adults in the country. The poll of 1,547 people in their 20s and 30s, [...]
SEOUL, Apr. 9 (Korea Bizwire) – A recent survey conducted by real estate consulting firm Budongsan R114 has shed light on the priorities of South Korean homebuyers, revealing that nearly one-third of adults consider the ‘education environment’ to be the most crucial factor when purchasing a home. The survey, which polled 5,046 adults nationwide from March [...]
SEOUL, Apr. 8 (Korea Bizwire) – As South Korea’s economy continues its transition toward a service-based model, a handful of industries like finance, health care and real estate have emerged as consistent drivers of expansion over the past decade, government data has revealed. Statistics Korea reported on April 5 that the nation’s service sector output increased [...]
SEOUL, Feb. 26 (Korea Bizwire) – Amidst the ongoing economic challenges marked by high inflation and interest rates, recent data has revealed that individuals in their 30s and 40s who have taken on debt to purchase homes are the ones who have most drastically cut back on their spending following the rise in interest rates. A [...]
SEOUL, Feb. 11 (Korea Bizwire) – In the midst of rising interest rates and a challenging economic landscape, the market for office property transactions in South Korea has seen a notable decline. Despite these conditions, financially solid domestic firms have stepped up as prominent buyers, eagerly purchasing office buildings to serve as their corporate headquarters. [...]
SEJONG, Jan. 4 (Korea Bizwire) –A recent study has revealed that housing prices are the most significant factor affecting the decision to have a first child, while the cost of private education becomes more influential for subsequent children. The study on future birth rates in South Korea showed that the factors most affecting the decision [...]