The government will increase supplies of residences by 114,000 units over the next two years, including repurposing hotel rooms and office space. This is the 24th set of real estate measures introduced by the Moon Jae-in government.
A view of apartments from Seoul Sky at the top of the Lotte World Tower in Songpa District, southern Seoul on Wednesday.
As the government works to keep property price down, the prices keep rising, especially at the top end of the market.
As real estate regulations have made it increasingly difficult for people to live in apartments by paying jeonse long-term deposits, monthly rent in Seoul is on the rise.
Prices of apartments in Seoul are on the rise even as the government and ruling party vow to raise assessed values of properties, which will significantly increase taxes paid by homeowners.
The Moon Jae-in administration’s rent policy is sinking deeper into a slump. There is no solution in sight to solve the dire crisis. The government offers to increase mid-sized public rent or stake-holding ownership supplies,...
Even if you manage to get your hands on 900 million won ($800,000), you still would have just a 50-50 shot at an apartment in Seoul.
The government is to come up with a measure this week to stabilize the jeonse (long-term rent with lump-sum deposit payment) market. Jeonse rents have become extremely short in Seoul and all other parts of the country. According...
Top government officials’ strange denial of reality continues. Even amid a critical dearth of apartments for jeonse (long-term deposit rentals) in Seoul as a result of the government’s attempts to crack down on real estate...
A shortage of apartments available for jeonse, or long-term leases, continues to worsen, affecting tenants across the income spectrum.