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Key money for apartments near and around Gagnam
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asmith



Joined: 18 Jun 2009

PostPosted: Wed Oct 21, 2009 11:48 pm    Post subject: Key money for apartments near and around Gagnam Reply with quote

Off the top of your head, what would a two or three bedroom cost me.

I'm not talking walsae.

I'm talking jonsae.

Or a mix between jonsae and walsae.
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IS-F



Joined: 20 Oct 2009

PostPosted: Thu Oct 22, 2009 12:10 am    Post subject: Reply with quote

Asmith, I'm assuming you're moving with your wife and 2 kids.

My gf and her sister lived in a decent apartment near Gangnam-gu Office and the jeonse was a little more than 300 million KRW (3 bedrooms). However, they have now moved to a villa (very nice villa with 2 floors and a deck) in the Nonhyun area for about 200 million (3 bedrooms).

I got a couple of buddies that share a nice apartment near Cine City (Apgujeong but technically Nonhyun). They put 50 million down and pay around 2 million a month.

I think for straight jeonse for a decent 2-bedroom in Gangnam would run about 200 mil.

Are you interested in Jamshil as well? Not too far but relatively cheaper (more kid-friendly too).
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asmith



Joined: 18 Jun 2009

PostPosted: Thu Oct 22, 2009 3:39 pm    Post subject: Reply with quote

300 million!!!!!!

Well, I guess I'll be scratching Gagnam off my list.
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eamo



Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.

PostPosted: Thu Oct 22, 2009 3:44 pm    Post subject: Reply with quote

The average minimum jeonsae nowadays in Seoul for a small 3-bed apt is 150 mill......that would be for an older apt in an unpopular area.
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youtuber



Joined: 13 Sep 2009

PostPosted: Thu Oct 22, 2009 4:25 pm    Post subject: Reply with quote

If you have ever spent a significant amount of time in Gangnam, you would realize that it is definitely not a desirable place to live.
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asmith



Joined: 18 Jun 2009

PostPosted: Thu Oct 22, 2009 5:09 pm    Post subject: Reply with quote

youtuber wrote:
If you have ever spent a significant amount of time in Gangnam, you would realize that it is definitely not a desirable place to live.


Why is that? With all that money floating around, one would think you could do pretty well with privates and what not.
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Old Gil



Joined: 26 Sep 2009
Location: Got out! olleh!

PostPosted: Thu Oct 22, 2009 6:53 pm    Post subject: Reply with quote

I didn't do jeonsae per se, but I had about 40 mil with one other guy to put down on a place in Itaewon and the realtor told me that landlords aren't really into jeonsae recently, for what reason I don't know. Maybe interest rates are low these days, I don't really know what the deal is with Gangnam.

However, a friend of mine and her BF put down 50 mil on an old 2br in Sillim and she pays no weolsae, so maybe looking a little further west could be something to look into.
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asmith



Joined: 18 Jun 2009

PostPosted: Thu Oct 22, 2009 6:59 pm    Post subject: Reply with quote

Old Gil wrote:
I didn't do jeonsae per se, but I had about 40 mil with one other guy to put down on a place in Itaewon and the realtor told me that landlords aren't really into jeonsae recently, for what reason I don't know. Maybe interest rates are low these days, I don't really know what the deal is with Gangnam.

However, a friend of mine and her BF put down 50 mil on an old 2br in Sillim and she pays no weolsae, so maybe looking a little further west could be something to look into.


How far away are those places from Gagnam?
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Old Gil



Joined: 26 Sep 2009
Location: Got out! olleh!

PostPosted: Thu Oct 22, 2009 7:04 pm    Post subject: Reply with quote

Sillim is about 8 stops west (maybe 20min) of Gangnam on the same subway line, Beongchon, SeoulDae and Nakseongdae are all closer in than Sillim on the same line too if you want to look around there.

Itaewon is north across the river, hard to get to Gangnam quick unless you have a scooter. It's also very dangerous and scary.
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Snowflake



Joined: 12 Dec 2006
Location: Seoul

PostPosted: Thu Oct 22, 2009 7:18 pm    Post subject: Reply with quote

I have a 2 bedroom villa in Gangnam - put down 10m key money and pay 1.3m a month (between two of us).
There are loads of villas available for 10m down and roughly 1m a month - just avoid the apartment blocks.
Let me know if you want details of the estate agent we used - he speaks English and is one of the nicest people I've ever met. No lie!
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Snowflake



Joined: 12 Dec 2006
Location: Seoul

PostPosted: Thu Oct 22, 2009 7:21 pm    Post subject: Reply with quote

Old Gil wrote:

Itaewon is north across the river, hard to get to Gangnam quick unless you have a scooter. It's also very dangerous and scary.


Depends on the size of your scooter - I had a 50cc and it wasn't fast enough over the bridge, so granted that was a bit scary. I now have a 100cc and it's just fun!
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Old Gil



Joined: 26 Sep 2009
Location: Got out! olleh!

PostPosted: Thu Oct 22, 2009 7:36 pm    Post subject: Reply with quote

Snowflake wrote:
Old Gil wrote:

Itaewon is north across the river, hard to get to Gangnam quick unless you have a scooter. It's also very dangerous and scary.


Depends on the size of your scooter - I had a 50cc and it wasn't fast enough over the bridge, so granted that was a bit scary. I now have a 100cc and it's just fun!


Yeah I can see that being a concern. I have a 125 and I still don't like it all that much.

However, going from Itaewon to Gangnam or vice versa and you use Banporo, you can go on the underneath bridge, which is more laid back.
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soohak



Joined: 11 Sep 2007

PostPosted: Thu Oct 22, 2009 8:25 pm    Post subject: Reply with quote

I recently moved into a ~22평 (usable space) three room in Yeoksam-dong. The 보증금 (deposit) was 10 million and the 월세 (rent) is 1 million/mo (including the 50k 관리비). When calculating the realtor's fee, they used a 전세 value of 100 million.
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T-J



Joined: 10 Oct 2008
Location: Seoul EunpyungGu Yeonsinnae

PostPosted: Thu Oct 22, 2009 8:59 pm    Post subject: Reply with quote

asmith wrote:
300 million!!!!!!

Well, I guess I'll be scratching Gagnam off my list.


Just wait until March. I hear from a reputable source that that will only be about $300 USD by then. Wink
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princey



Joined: 28 Sep 2009
Location: Seoul

PostPosted: Sun Oct 25, 2009 8:34 am    Post subject: Reply with quote

what is jeonsae and walsae?
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