Korean Job Discussion Forums

Boodleheimer · Posted: Mon Aug 07, 2006 5:09 pm Post subject: Buying an Apartment?

Has anybody bought an apartment or house in Korea? Is it ridiculously difficult or decently easy? How does it all work?

Boodleheimer · Posted: Tue Aug 08, 2006 2:59 pm Post subject:

*bump*

SuperHero · Joined: 10 Dec 2003 Location: Superhero Hideout

A few people I know have but they all have Korean spouses. Foreigners can buy an apartment but I don't know anyone not married to a Korean who has purchased one.

Boodleheimer · Posted: Tue Aug 08, 2006 6:05 pm Post subject:

yeah, my partner and i are both westerners.

in the czech republic, if you're not a czech citizen, you have to declare yourself an s.r.o. (company) in order to buy property. (at least you did 4 years ago.) i'm just hoping it's easier here than there.

mishlert · Joined: 13 Mar 2003 Location: On the 3rd rock from the sun

My K-fiance and I went to the bank to find out about getting a mortgage and were told that anyone can get get one with a decent paying job (ok), good credit (ok), and 40, to 60% down Shocked

So much for the N. American way of 10% down.
I asked later how Koreans can come up with that kind of money and was told that family, and good friends help each other out via a loan (10-20% interest).

skindleshanks · Joined: 10 May 2004

I know there are a number of foreigners who have bought vacation apartments out here on the East coast. I don't know what their Korean connections are. I imagine it's a different story depending on your financing requirements. We just bought a new apartment (my wife is Korean), so I could try to answer any specific questions you might have.

This might belong in another category, I think.