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.
Not many may remember the exact words of President Moon Jae-in on the real estate market during his town halls with the public which were televised live in November last year. “Real estate prices across the country have come down...
A customer looks at sales postings at a real estate agency in Sejong on Tuesday. According to the Korea Appraisal Board, jeonse long-term rent prices in Sejong rose 4.3 percent last month compared to the previous month.
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.