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Itaewon-dong Apartment Question
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Jeweltone



Joined: 29 Mar 2005
Location: Seoul, S. Korea

PostPosted: Sun Aug 05, 2007 5:26 am    Post subject: Itaewon-dong Apartment Question Reply with quote

Kinda a long story, but here goes...

I am apartment-hunting in Seoul, and due to Seoul immigration bureaucracy, have to find this magic apartment in a bloody hurry.

I got a chance to see one apartment in Itaewon-dong (near Namsan/Hyatt rather than Hooker Hill) and I rather liked it. It was a "cozy" two bedroom with a weird (but clean and well-maintained) bathroom. I was quoted at 5mil key money and 800,000 won monthly rent. This seems rather high for a small apartment (about 15 pyung total), but I don't know the real estate there. The place does have a spectacular view, and is a ten minute walk from the bus station at Namsan Park. I work near Cheongnyeongi...

I have asked around, and some have said it is a rip off, and some have said it is a good deal because real estate is rising. I don't know anyone who actually lives in Itaewon (I don't go there often myself, not being a heavy drinker).

Does anyone live up there (Garden Street/New Town) who can tell me what the rent is actually like? I looked at Eden Real Estate's website, but they only have basement apartments in the lower price range (yuck!) How is the convenience? Is it quiet/safe?

I only have 5 million key money, so my options are kinda limited. I can pay up to 700,000 a month. Where else in Seoul should I be looking? I have drunk ajussi harassment/red light district issues where I am currently living in Gyeonggi-do, so safety is important (tired of being groped). The websites I have checked all seem to say 10 million key money, which I don't have at all.

Can anyone help?
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RobertX



Joined: 07 May 2006

PostPosted: Sun Aug 05, 2007 5:57 am    Post subject: Reply with quote

try noksapyeong, its much cheaper, and it's right next to itaewon. You should be able to find a place for 500 a month
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Tony_Balony



Joined: 12 Apr 2007

PostPosted: Sun Aug 05, 2007 6:09 am    Post subject: Reply with quote

good realtor, 5 mil will get you a good place

edenrealty.co.kr
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cdninkorea



Joined: 27 Jan 2006
Location: Seoul

PostPosted: Sun Aug 05, 2007 6:34 am    Post subject: Reply with quote

I paid one million key money and half a million a month in rent. But it's a one bedroom basement apartment. It's in Itaewon by the way- near the Hyatt.
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Jeweltone



Joined: 29 Mar 2005
Location: Seoul, S. Korea

PostPosted: Sun Aug 05, 2007 7:00 am    Post subject: Reply with quote

I can't do basements due to resperatory issues/mold (childhood asthma reemerged after I came to Korea!)- I need proper ventilation. I also need natural light, if possible. Space is not really an issue; my 10 pyung now is plenty for me.

Anyone get a floor one or above at a good price?

I am not necessarily set on Itaewon (Jamsil would be nice Very Happy , but way too expensive). I actually don't mind officetels, especially lofts.
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huck



Joined: 19 Jan 2003

PostPosted: Sun Aug 05, 2007 6:03 pm    Post subject: Reply with quote

I have a 3 bedroom (well, 1 big and 2 small), huge living room, top floor villa in Haebongcheon for 600,000won a month....3 million won key money.

There's a Korean woman named Mandy who's really good at finding places near Noksapyeong.

Go to http://englishspectrum.com and check out accomodations - she has a couple of places listed...Here's an example of one -

Very cozy and big for the price.

Seperate kitchen and the living room are both big.
All of the 3 bedroom have a great size.
Big balcony is included.
The house is on the 2nd floor. 3 million won key money, 650,000 won a month.
The price is already negotiated. So no more discount.
Couch, fridge, gas cooking stove, air conditioner etc are included.
The location is very good. 10 seconds to INDIGO in Haebongchon.
Five minutes walk to a bus stop (to go to Kang Nam area, or Jongro)
Call Mandy at 010 2781 5580. available now.


I'd hurry, though....This kind of place is really, really nice, and will go fast.
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Okibum



Joined: 28 Jul 2006

PostPosted: Sun Aug 05, 2007 6:14 pm    Post subject: Reply with quote

For the apartment that close to the Hyatt hotel it sounds about right. The apartments up there are insane.
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Qinella



Joined: 25 Feb 2005
Location: the crib

PostPosted: Sun Aug 05, 2007 7:54 pm    Post subject: Reply with quote

huck wrote:
I have a 3 bedroom (well, 1 big and 2 small), huge living room, top floor villa in Haebongcheon for 600,000won a month....3 million won key money.

There's a Korean woman named Mandy who's really good at finding places near Noksapyeong.


She's the person who helped me get my apartment. She's also the only realtor out of dozen I went to who showed me anything decent at all, and she actually showed me some very nice, affordable apatuhs.

To the OP, her number is 010-2781-5580. I highly recommend speaking to her.

As for your question, yes, 5 mil and 800k a month for what you described is highway robbery. I had only 2 mil for key money and ended up with something like 24 pyong (not really sure, but basically 2 large bedrooms, small office, living room, separate kitchen, oven, washer/dryer, fully furnished, real bathroom) in Haebangchon.
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safeblad



Joined: 17 Jul 2006

PostPosted: Mon Aug 06, 2007 2:06 am    Post subject: Reply with quote

when i got my apartment i had to pay my whole years rent with the key money up front.

is that normal practice or is it just a strange Jeju /whitey handling thing?
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Jeweltone



Joined: 29 Mar 2005
Location: Seoul, S. Korea

PostPosted: Mon Aug 06, 2007 4:18 am    Post subject: Reply with quote

How is Haebongcheon as far as living? Is it safe, or in the "shady" area of Itaewon?
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huck



Joined: 19 Jan 2003

PostPosted: Mon Aug 06, 2007 6:06 am    Post subject: Reply with quote

I don't think it's dangerous at all....I've never heard of any of my female friends feeling unsafe. Plus it has a couple of okay places to eat...the corner store is good enough for a late night snack...The buses to myeongdong and wherever else are 5 minutes away.
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SweetLou



Joined: 26 Sep 2003
Location: mt. bu

PostPosted: Mon Aug 06, 2007 7:23 am    Post subject: Reply with quote

Haebangchon and the Hyatt area are quite different for being so far apart. Having lived in both neighborhoods, here's what I've found:

Haebangchon
----------------
Cheaper apartments
Slightly better foreign food options
Worse Korean food options (especially if you're not at the top of the hill)
So-so food shopping
Economically more depressed
More foreigners, seemingly, including more non-Western ones

Hyatt area
------------------
More expensive, but nicer, apartments
Near many consular homes and mansions
Better Korean food options
Very few cheap foreign restaurants
Lots of nice, upscale eating / bars
Better groceries
Good gyms nearby
Calmer environment, on average

Personally, I prefer the Hyatt neighborhood, but that's just me. Haebangchon is certainly the more happening place, but being a 10-minute walk away (as opposed to a 2-minute one) isn't a big deal. We pay 5 million / 600,000 for our place, which is 3 rooms along with a kitchen, big bathroom, big laundry / storage room, oven, etc. It's a basement apartment, however, which is a big drawback. The lack of sunlight has affected my general mood quite a bit.

Everyone has their preferences -- just sharing my own.

-SL
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Qinella



Joined: 25 Feb 2005
Location: the crib

PostPosted: Mon Aug 06, 2007 7:23 am    Post subject: Reply with quote

safeblad wrote:
when i got my apartment i had to pay my whole years rent with the key money up front.

is that normal practice or is it just a strange Jeju /whitey handling thing?


You hear about all sorts of stuff. Could be because you're a foreigner, could be the landlord's usual policy, could be because you may work for a lesser known entity as opposed to a major corporation.. why didn't you ask why?
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safeblad



Joined: 17 Jul 2006

PostPosted: Mon Aug 06, 2007 8:29 pm    Post subject: Reply with quote

Qinella wrote:
safeblad wrote:
when i got my apartment i had to pay my whole years rent with the key money up front.

is that normal practice or is it just a strange Jeju /whitey handling thing?


You hear about all sorts of stuff. Could be because you're a foreigner, could be the landlord's usual policy, could be because you may work for a lesser known entity as opposed to a major corporation.. why didn't you ask why?


i should have done, but i was a noob and assumed it was common practice, also i was good for it...
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squat toilet



Joined: 08 Mar 2005

PostPosted: Mon Aug 06, 2007 8:34 pm    Post subject: Reply with quote

I live a stones throw away from the Hyatt in a 30 pyung, 3 bedroom villa and it ran me 700,000 per month with no key money (i was willing to pay key money but I worked out a deal with the landlord to pay the whole year upfront instead). Talk to Arthur at Eden.
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