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Have rent prices in Seoul fallen?

 
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Weigookin74



Joined: 26 Oct 2009

PostPosted: Sun May 19, 2013 6:53 pm    Post subject: Have rent prices in Seoul fallen? Reply with quote

I jsut checked this site out of curiousity. These prices seem quite cheap for Seoul to me, unless they are false ads or the bottom has fallen out of the market.

http://www.oneroommoa.net/?NVKWD=%EC%84%9C%EC%9A%B8%EC%9B%90%EB%A3%B8&NVADKWD=%EC%84%9C%EC%9A%B8%EC%9B%90%EB%A3%B8&NVAR=PL&NVADID=741715609+0Ca0001uxTzfX9G600%5Fb
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fustiancorduroy



Joined: 12 Jan 2007

PostPosted: Sun May 19, 2013 9:20 pm    Post subject: Reply with quote

Those prices seem a bit low, but considering that the website only deals with one-room apartments in the less-desirable southwestern part of Seoul, I don't think they are unreasonable.

I know that in other parts of Seoul, rent has stayed the same or gone up. I looked at 33-pyeong apartments in Dongbu-Ichon-dong recently. Last year, they were 50 million down and 2.2 million a month. Now, they are still 50 million down, but most of them seem to go for 2.4 or 2.5 million a month. I guess it depends on the neighborhood.
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Weigookin74



Joined: 26 Oct 2009

PostPosted: Sun May 19, 2013 9:47 pm    Post subject: Reply with quote

Yeah, I always figured one rooms wanted 10 Mill Deposit and 500,000 won a month in Seoul. But, the site also showed office tels too. Guess, if I ever moved to Seoul, I'll know where to look. They all seemed new too. I wasn't sure where that was. It's SW part of Seoul?
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furtakk



Joined: 02 Jun 2009

PostPosted: Sun May 19, 2013 10:01 pm    Post subject: Reply with quote

Rent has stayed similar, but prices have fallen in certain areas for those buying and selling. There has also been a shift in popularity from jeonsae to weolsae, but weolsae prices are still pretty high. Most 10-20 year old places start around 20 mil / 1k a month for a 2-3 bedroom.
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PRagic



Joined: 24 Feb 2006

PostPosted: Mon May 20, 2013 12:34 am    Post subject: Reply with quote

Those on-line places always post cheapies to lure people in. Give them a call. Oh, that one? Sorry, that's gone. And THAT one? That was gone immediately. Give them a call and try. Crock of shiite.

If you're looking to rent, put boots on the ground in the hood you like and hit all the real estate places. The on-line services blow.
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Stan Rogers



Joined: 20 Aug 2010

PostPosted: Mon May 20, 2013 1:09 am    Post subject: Reply with quote

PRagic wrote:
Those on-line places always post cheapies to lure people in. Give them a call. Oh, that one? Sorry, that's gone. And THAT one? That was gone immediately. Give them a call and try. Crock of shiite.

If you're looking to rent, put boots on the ground in the hood you like and hit all the real estate places. The on-line services blow.


Quite often that is the case.
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cdninkorea



Joined: 27 Jan 2006
Location: Seoul

PostPosted: Tue May 21, 2013 3:56 am    Post subject: Reply with quote

It's absurd that in a country with such excellent IT infrastructure and where you can order practically anything on the Internet at any time, you still have to do real estate shopping the old fashioned way. Mad
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alongway



Joined: 02 Jan 2012

PostPosted: Tue May 21, 2013 3:22 pm    Post subject: Reply with quote

PRagic wrote:
Those on-line places always post cheapies to lure people in. Give them a call. Oh, that one? Sorry, that's gone. And THAT one? That was gone immediately. Give them a call and try. Crock of shiite.

If you're looking to rent, put boots on the ground in the hood you like and hit all the real estate places. The on-line services blow.


I seem to recall a year or two ago the government started cracking down on that, also the signs in the windows. All the realtors used to have their windows lined with ads for places, many of them very cheap which would get people in, but they were never real. These days you barely see any price signs at all, at least in my area, none of the places I ever walk by ever have the signs like they used to.
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