The government has backed down on its full-fledged restrictions on housing loans in just two weeks. On Thursday, Financial Services Commission (FSC) Chairman Koh Seong-beom said he will “flexibly manage” loans for jeonse...
Legitimate borrowers with not be turned down for joense loans, according to Financial Services Commission Chairman Koh Seung-beom.
Four out of 10 apartment lease contracts made in Seoul in August were for monthly rent, as more landlords are shifting their jeonse long-term deposit units to monthly rent in an effort to make up for their high real estate taxes.
Tenant protection bills pushed through in July 2020 have done little for the people they were drafted to help as jeonse prices have jumped due to the lack of available apartments.
It’s been a year since the ruling Democratic Party used its dominance in the National Assembly to force through three housing bills empowering tenants. Since then, those who should have been helped have found themselves worse off.
According to the Ministry of Land, Infrastructure and Transport, 77.7 percent of rent contracts in Seoul were renewed between August 2020 and May. That’s significantly higher than 57.2 percent between September 2019 and August 2020.
Gap investing goes down market as investors dodge regulations. Gap investment is booming in Korea, with investors mainly targeting small properties located outside restricted areas and with a government assessed value under 100 million won...
Apartments rented on jeonse, or long-term deposit, contracts continue to get more expensive. Jeonse prices rose for the 102nd week in a row. The trend has continued from the first week of July 2019 through the first week of this...
President Moon Jae-in sacked Blue House policy chief Kim Sang-jo for circumventing new rent control laws by hiking the rent on a property two days before they went into effect.
Half-jeonse contracts have become more popular since the ruling Democratic Party rammed through the three laws designed to protect tenants. They included provisions for automatic extensions and a cap on rent increases.