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All about South Korea => Korea Newsroom => Topic started by: SPQR on June 23, 2021, 01:36:34 pm

Title: Home prices double under Moon Jae-In
Post by: SPQR on June 23, 2021, 01:36:34 pm

I love this guy!

https://www.koreatimes.co.kr/www/biz/2021/06/488_310947.html

To quickly summarize, here are the takeaways:

The average price of a 99-square-meter apartment in Seoul rose to
1.19 billion won ($1.04 million) from 620 million won from May 2017
to May 2021.

The rise in apartment prices was found to be 192 times the rise in net
income, which grew by an average of 2.98 million won during the same
period.

The civic group said it would take a person or a household with an annual
income of 48 million won 25 years to buy a 99-square-meter apartment in
Seoul, assuming that all the disposable income is saved. It took 14 years four
years ago.
Title: Re: Home prices double under Moon Jae-In
Post by: hangook77 on July 19, 2021, 11:50:16 am
I wonder if this explains the jump in deposit amounts for rent lately?  Even out in the provinces.  Some arsehole landlords have jumped to huge deposits no monthly rent like 120 to 180 million won deposits for a villa (mind you there are nice 3 and 4 room villas).  Before was a reasonable deposit and monthly rent.  Not sure if these government policies are having an effect or not?  Seems quite ridiculous.  This is out in the provinces.  I can't imagine Seoul or Gyeonggi.