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Pak Yu Man
Joined: 02 Jun 2005
Location: The Ida galaxy
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 Posted: Mon Jan 16, 2006 11:27 pm Post subject: |
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I raise the bullshit flag.
I've (who am I kidding...my wife) has bought and sold two apts in Daegu.
They were a bit expensive. We mad no profit of the first one, but the last one we did well.
Expensive yes. This is the place where my in-laws bought a place for a little under 100 mil and now it's worth twice that. |
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billybrobby
Joined: 09 Dec 2004
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| Posted: Tue Jan 17, 2006 12:20 am Post subject: |
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| ajgeddes wrote: |
I agree with what is being said.
At the same time, that website has a lot of errors. Check out the statistics from GDP per capita for the USA and Canada, then click on the North American sections and the numbers are not even close. I think there could be a lot more mistakes as well. |
and the word chancellor is misspelled on the front page
there's key money, but you in real terms, you only have to deduct whatever you lose to inflation, call that rent, and then add your real rent and you end up with a number that isn't high at all, to my mind.
beer is more expensive though. |
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Cheonmunka
Joined: 04 Jun 2004
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| Posted: Tue Jan 17, 2006 3:48 am Post subject: |
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| We have friends who have 25 million to buy an apartment for 250 million. That's 10% deposit. That's better than NZ where banks request 20% for normal cases. |
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itaewonguy
Joined: 25 Mar 2003
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| Posted: Tue Jan 17, 2006 7:12 am Post subject: |
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| Cheonmunka wrote: |
| We have friends who have 25 million to buy an apartment for 250 million. That's 10% deposit. That's better than NZ where banks request 20% for normal cases. |
you sure about that?
maybe they have 25 but there father is giving them the other 50!
I find it very VERY hard to believe.. if you are certain of this..
could you find out the bank thats supply the morgage becuase I would really love to get in on this action!! seriously bro.. |
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itaewonguy
Joined: 25 Mar 2003
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| Posted: Tue Jan 17, 2006 7:17 am Post subject: |
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| Swiss James wrote: |
Itaewon guy, I'm not disputing your figures because I've never looked into it, but I know a few people who I work with that either have or are about to buy a second property for investment.
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im not saying its its impossible for normal folk to buy homes! not at all!
very easy once you have some money saved up!
30million will get you started on a villa, then you work your way up!
or even an older house in a poor neighbourhood not a problem!
of course there are investments for poor folks! but I can bet those friends are not buying apartments in new apartment raises in kangnam!
or buying land in seoul!
anyone can buy a house or two.. it does get tricky after your second home tho with redtape I heard..
buying villas or officetels are pretty easy! both 9-5 workers with registered incomes and debt free can get loans not a problems!
and even possible to be a realestate tycoon one day!
im just saying.. governments need and want poor and middle class citizens. they need them,! so they will do what ever they can to make sure the majority or society stays that way! |
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Gwangjuboy
Joined: 08 Jul 2003
Location: England
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| Posted: Tue Jan 17, 2006 11:02 pm Post subject: |
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| itaewonguy wrote: |
| where in England do you have to pay 30.000USD for deposit on a house for rent? |
Lease agrrements for property in Belgravia can run into millions of pounds and a high rent is still payable every month. Remember, the deposits are returned to you when you move out in Korea.
Housing in Korea is not as expensive as England but the method of payment here is far more inconvenient because you have to put up lump sums in advance. However, this money is returned to the tenant after a couple of years, and the monthly rent isn't exactly at the high end of the scale. If you put up enough money in advance you can live in a house for next to nothing for years on end. In England monthly rents are very expensive, and the average mortgage - around 150,000 pounds, takes decades to pay off and accrues huge amounts of interest.
Cars sold in England are not only more expensive on average than cars sold in Korea. Fuel costs are amoungst the most expensive in the world.
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| new apartment raises in kangnam |
Kangnam isn't representative of prices in Korea generally. When you mention Kangnam you should compare it to Belgravia. |
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Faron
Joined: 13 Jan 2006
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| Posted: Tue Jan 17, 2006 11:10 pm Post subject: |
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| We should all just move to China....... I heard they have very cheap apartments. Yes Korea is expensive for what you get. I think if you compare any major Korean city to MOST major Canadian or American cities.....prices will be around the same. I know an apartment in Toronto is roughly the same price as Seoul. |
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warpiggy
Joined: 20 Jan 2006
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| Posted: Wed Jan 25, 2006 5:28 am Post subject: |
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Obviously whoever made this survey has never been to another country. As already said, the only thing outstandingly expensive here is rent/land. Everything else is insanely cheap. Transportation, food, clothes, and so on. Everything but key money basically.
I still can't figure out why people keep saying this country is cheap. Food is certainly not cheap unless you eat at the lowest end Korean family resturaunts and what country isn't cheap if you do that. Beer is expensive- to be fair, it does taste cheap. Yes, the subway is cheap. Taxis aren't expensive. Foreign food is through the roof however. Clothing is expensive- 500 bucks for a domestic sportcoat.
I am really dying to know how anyone couldsee this as a cheap country to live in. |
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