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da_moler
Joined: 11 Nov 2006
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 Posted: Mon Jun 20, 2011 8:13 pm Post subject: |
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An interesting thread. As I see it, this is all about supply and demand. High-standard living accommodation is in short supply in Seoul, and so these not-much-better-than-mediocre properties become extremely expensive. I've always found it amazing the way the super-rich in Korea live, for example in shabby-looking high-rise apartment blocks right on the expressway next to the Han River. Amazing that this is as good as it gets! I guess Koreans haven't caught on to the interest in lifestyle and 'good living' that predominates in the West (no doubt partly due to the long working hours and lack of vacation time). In the UK, people on a meagre wage live a lot better materially than high earners in Korea. Admittedly this is achieved by racking up huge levels of household debt, but it is all about aspiration, and there being something to spend that money on besides bars, girls, etc.
Similarly, why is there no glamorous seaside resort within easy reach of Seoul for the rich to relax, go yachting, etc.? Will we see the development of an Apgujeong-on-Sea in coming years as the rich get richer, more internationalized, and start wanting to live like their co-workers in Singapore, London, and New York. I would guess yes. |
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wishfullthinkng
Joined: 05 Mar 2010
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| Posted: Mon Jun 20, 2011 8:16 pm Post subject: |
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| northway wrote: |
| There are way too many people in way too small of a space. It does seem like Koreans are slowly waking up to the reality that Seoul is pretty freaking crappy compared to many of its Asian competitors, however, so maybe it pulls itself together in the next 15-20 years. |
you must be miserable if you live in korea because you bash it so frequently.
"freaking crappy compared to many of its asian competitors?" i assume you traveled a lot in asia and spent many years getting to know each and every major city? the only cities in south east asia (in my humble opinion of course) on a competing level to seoul are tokyo, singapore, hong kong, taipei and shanghai/beijing. none of them are really any better than seoul either, just different in their own nice ways. some would even argue that a few of the cities listed are behind seoul by a good few years, especially in technical infrastructure, healthcare, safety, etc.
that said, i live near the first house in this post and i drool every time i walk past it. there are some absolutely incredible houses in that area besides that one too.
fun fact: if you use the population density of seoul, everyone in the world would fit in texas. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Mon Jun 20, 2011 8:41 pm Post subject: |
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| I looked at the first one. Use of concrete and steel, high ceilings, large open space inside, some rooms, a bit of a yard. This isn't cheap even in small town Canada. Prob 800,000 bucks or more depending on features. Sometimes pics don't tell the full story. 16 million just for rent? Pure BS for that though. There are some housing units like this in my small city here in Korea. Prob much cheaper to own here. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Mon Jun 20, 2011 8:48 pm Post subject: |
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| Can you just pay a larger key deposit and have lower rent for these places. If you guys marry K chicks, live frugal, make as much money in Seoul, then move to a smaller city. Use the money made to buy a nicer place there. You prob still have opportunities to earn even if not as much. Once you're married, you don't need to be in Seoul anymore anyways. Rip off housing prices there. |
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northway
Joined: 05 Jul 2010
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| Posted: Mon Jun 20, 2011 10:30 pm Post subject: |
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| wishfullthinkng wrote: |
| northway wrote: |
| There are way too many people in way too small of a space. It does seem like Koreans are slowly waking up to the reality that Seoul is pretty freaking crappy compared to many of its Asian competitors, however, so maybe it pulls itself together in the next 15-20 years. |
you must be miserable if you live in korea because you bash it so frequently.
"freaking crappy compared to many of its asian competitors?" i assume you traveled a lot in asia and spent many years getting to know each and every major city? the only cities in south east asia (in my humble opinion of course) on a competing level to seoul are tokyo, singapore, hong kong, taipei and shanghai/beijing. none of them are really any better than seoul either, just different in their own nice ways. some would even argue that a few of the cities listed are behind seoul by a good few years, especially in technical infrastructure, healthcare, safety, etc.
that said, i live near the first house in this post and i drool every time i walk past it. there are some absolutely incredible houses in that area besides that one too.
fun fact: if you use the population density of seoul, everyone in the world would fit in texas. |
I am comparing those cities its competitors, as those are the other cities in developed countries, and I've been to all of them outside of Shanghai/Beijing.
Where is all this Korean bashing you speak of, anyway? I defend about as much as I bash, but on Dave's it seems that if you don't bash Korea constantly you're an apologist and if you don't defend indiscriminately you're a Korea-hater. Seoul's architecture sucks and it has very little to tie the city together, I don't think that's really arguable. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Mon Jun 20, 2011 10:49 pm Post subject: |
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| If Koreans like it, they like it. We seem to be applying our own standards of what we consider nice. I for one, if I had a few million bucks, would happily splurge on a $500,000 apartment in Seoul. I much rather prefer condo living than taking care of a lawn. |
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edwardcatflap
Joined: 22 Mar 2009
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| Posted: Mon Jun 20, 2011 10:50 pm Post subject: |
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| Seoul's architecture sucks and it has very little to tie the city together, I don't think that's really arguable. |
That's an interesting way of putting it. I wonder what criteria you use to justify this statement. I tend to agree with you but have been shouted down in other posts for suggesting that you can attach general criteria to the assessment of attractiveness. I think some people definitely would argue with you on this point saying it's completely down to individual taste. |
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northway
Joined: 05 Jul 2010
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| Posted: Mon Jun 20, 2011 11:28 pm Post subject: |
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| edwardcatflap wrote: |
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| Seoul's architecture sucks and it has very little to tie the city together, I don't think that's really arguable. |
That's an interesting way of putting it. I wonder what criteria you use to justify this statement. I tend to agree with you but have been shouted down in other posts for suggesting that you can attach general criteria to the assessment of attractiveness. I think some people definitely would argue with you on this point saying it's completely down to individual taste. |
Okay, well I'm not about to get into an argument about the relativity of aesthetics, but personally I think anyone who would argue that Seoul beats out HK or Singapore's CBDs from an architectural standpoint is absolutely insane.
Last edited by northway on Tue Jun 21, 2011 7:35 am; edited 1 time in total |
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minos
Joined: 01 Dec 2010
Location: kOREA
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| Posted: Tue Jun 21, 2011 12:23 am Post subject: |
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Army officers and contractors get some insane housing money. Especially if they're married.
A married an grunt soldier can get a pad that will fit two ESL teacher apartments inside.
Those boring looking luxury apartments are pretty nice inside too.
| Quote: |
| An interesting thread. As I see it, this is all about supply and demand. High-standard living accommodation is in short supply in Seoul, and so these not-much-better-than-mediocre properties become extremely expensive. I've always found it amazing the way the super-rich in Korea live, for example in shabby-looking high-rise apartment blocks right on the expressway next to the Han River. Amazing that this is as good as it gets! I guess Koreans haven't caught on to the interest in lifestyle and 'good living' that predominates in the West (no doubt partly due to the long working hours and lack of vacation time). In the UK, people on a meagre wage live a lot better materially than high earners in Korea. Admittedly this is achieved by racking up huge levels of household debt, but it is all about aspiration, and there being something to spend that money on besides bars, girls, etc. |
Rich Koreans live in nicer buildings than those. T
I think there was a law regarding building size and height so you don't really see the massive megacity 1 apartment blocks like gangzhou. Which would be awesome in Seoul. You'd make a killing investing in one. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Tue Jun 21, 2011 5:49 am Post subject: |
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| jvalmer wrote: |
| If Koreans like it, they like it. We seem to be applying our own standards of what we consider nice. I for one, if I had a few million bucks, would happily splurge on a $500,000 apartment in Seoul. I much rather prefer condo living than taking care of a lawn. |
Excellent point.
Different people have different needs.
Like jvalmer said, a nice condo in Seoul with no yard to maintain appeals to some people a lot more than a house with land.
We lived in an appartment in Busan with an ocean view. Our place was nice and the building well located. I sure did not crave a big yard to take care of!
For the record, we are now considering buying a place in Busan in one of the newer nicer areas and renting it out. The design of those newer places is pretty nice both inside and out as are the services nearby.
We visited a few places on our last visit to get an idea and we were pretty impressed with the way the appartments are laid out. |
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johnnyrook
Joined: 08 Nov 2009
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| Posted: Tue Jun 21, 2011 5:57 am Post subject: |
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| Don't all Koreans live in houses like this? Or have I just been watching too many Korean dramas? |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Tue Jun 21, 2011 7:20 am Post subject: |
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| johnnyrook wrote: |
| Don't all Koreans live in houses like this? Or have I just been watching too many Korean dramas? |
Option 2. |
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Bibbitybop
Joined: 22 Feb 2006
Location: Seoul
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| Posted: Tue Jun 21, 2011 9:11 am Post subject: |
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I often cruise through the ambassador housing areas on my bike in Hannam-dong, up Bugaksan, and between Hansung U and Sungshin U station mountains to show people western style houses in the middle of Seoul.
Minos: Most of my military officer friends get/spend 3 million a month on their apartments. |
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jizza
Joined: 24 Aug 2009
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| Posted: Tue Jun 21, 2011 11:09 am Post subject: |
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| johnnyrook wrote: |
| Don't all Koreans live in houses like this? Or have I just been watching too many Korean dramas? |
It's funny, I could swear I've seen two of the houses in Korean dramas... |
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Chalmers
Joined: 20 Oct 2008
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| Posted: Tue Jun 21, 2011 2:59 pm Post subject: |
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| that house in the first set of pics looks nice, since it has it's own property/yard. the others look poorly designed and probably hastily constructed. |
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