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Buying a house (possibly Mapo-gu)

 
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Holyjoe



Joined: 03 Mar 2003
Location: Away for a cuppa

PostPosted: Sun Jun 08, 2003 6:19 pm    Post subject: Buying a house (possibly Mapo-gu) Reply with quote

I am getting married in October to my Korean girlfriend, and we are planning on settling in Korea for a few years, before contemplating going to the UK together (but that's a long way down the line)

Anyway, we're looking at potential places in Seoul, and Mapo-gu is a favoured location because she works at Yeoido and in general it seems a good location for everything we'll need.
Does anyone here live in the Mapo area, or formerly lived there?

I know there are other threads related to buying houses in Korea and yes I've read them, I'm just interested in a wee bit of information for the area - where's good, where's bad etc.. Smile
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HardyandTiny



Joined: 03 Jun 2003

PostPosted: Sun Jun 08, 2003 7:26 pm    Post subject: Reply with quote

Yes, I live in Mapo, in ShinGongDeok Dong near the Gondeok Station. The location is convenient for quickly getting into the downtown area or strolling down to the the Han Riverside in 15 minutes.
I bought a 42 pyong one year-old Samsung Apartment and it was very expensive. It's fine except for the poor acoustics, which I hear is a problem in most apartments in Seoul.
Koreans swear that there is no better investment than an apartment, but supposedly Seoul is going to experience a fall in real estate prices within the next year sometime. Try to hold off on making a purchase until that happens.

The area near the Holiday Inn is too crowded and noisy, and most of the apartments there are relatively old, which is not good in the Korean mind.
It may be better to buy a place right on Yoido..not sure.
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Pilcrshr



Joined: 22 Jan 2003
Location: Seoul, Korea

PostPosted: Sun Jun 08, 2003 9:55 pm    Post subject: Reply with quote

Damn!! A 42-pyong in Mapo....that's like $250,000USD. Well if you go the loot go ahead and spend it, but not in an apartment. I hate to use the word bubble, but that's what it exactly is....a real estate bubble. I am currently staying in the apartments behind the Holiday Inn (which as mentioned above....is really busy and a bitch to get around if you don't got a car) but using the Jun-sei (no monthly payment except for maintence fee) would be your best bet. The sky-high apartment rates are bound to fall in the next 5 years. When they do, it would be the best time to shop for a permament place.
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