Korean Job Discussion Forums

[martinpil]

Is Seoul much more expensive than anywhere else? How much would an apartment in a cheap area be? Say a studio. As far as I can see, they cost sh%t loads. I may be wrong though and there may be affordable apartrments there.

[bassexpander]

My wife's previous tiny studio in Seoul cost 120 million won to buy.

Yes, housing prices are a lot cheaper in other places. In Busan, she said the same money could buy a 1 bedroom easily.

[No_hite_pls]

[djsmnc]

My girlfriend's family bought a place somewhere and it cost a lot.

[red_devil]

2-3 bedroom place in Gangnam will cost you around 300M - 400M.

[Unposter]

200 -300M in Gangnam? That is a steal! Try 600-700 mill and more...

It varies across the city but I find it hard to believe there are many apartments for sale for less than 250 mill and I would guess and it is only a guess, you are looking at 400-500 for anything around 30 pyeong. But, this is only a guess.

[chonga]

So do they generally have mortgages or are the apartments generally paid in one lump sum?

[eamo]

[PRagic]

Big difference between villas and apartments.

In some areas in Seoul, you can still get a 30-34 Pyung apartment for 300-500 million. Sometimes the Pyung for that price can lower to 20-25. In other areas, prices on the same size or even smaller places run 500-1500 million. Depends on what you're looking for an how much risk you're willing to subject yourself and your coin to.

Villas are cheaper because they're not as easy to sell and they are more prone to devaluate in price compared to apartments. They are also harder to rent out compared to apartments.

Pop goes the bubble? That debate rages on.

[UknowsI]

[Dude Ranch]

it seems like the housing in Seoul is in a bubble with the interest rate so low these days. If that housing bubble bursts (like it did in US) watch the home values fall