Real estate brokerage commissions are set to drop dramatically in October, some by about half, as new caps are put into place.The change will be especially notable for flats priced above 600 million won ($516,800).
The two largest projects – one in a project that straddles Euiwang, Gunpo and Ansan in Gyeonggi, and another in Hwaseong City – will add 70,000 apartments to the southern region of the greater Seoul area.
Saipan will be the first “travel bubble” destination for Korea, with the island open for vaccinated visitors from the country starting later this summer.
The Land Ministry and Seoul city government agreed to cooperate in expanding the supply of residential real estate in the nation’s capital, including resolving controversy over use of the former U.S. base in Yongsan.
President Moon Jae-in during a meeting with the Land Ministry ordered the government to “boldly increase” housing supply in hope of slowing the rise in prices.
A two-day Aviation-Tourism Recovery Forum hosted by the Ministry of Land, Infrastructure and Transport and Ministry of Culture, Sports and Tourism wrapped Wednesday.
Recent statements from politicians of the ruling party responsible for the real estate measures have stirred controversy in several online communities for lacking compassion and being out of touch with reality.
A main opposition party lawmaker on Wednesday announced he will forfeit his party membership following criticism over the conflict of interest between his family’s construction business and his work on the National Assembly committee overseeing...
A construction mogul-turned-lawmaker for the main opposition party said there was no conflict of interest between his family business and his serving on the National Assembly’s committee overseeing the Land Ministry.
Mixed messages from the government on the property market are further muddying the already muddy real estate waters. Measures have been talked up left and right, some announced and some leaked.