Housing

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TYPES OF RESIDENCE IN KOREA

In general, the residence of Korea is divided in 4 types; individual houses, multi-family houses, connected houses or town houses and apartment.

NDIVIDUAL HOUSES
  • Ordinary houses are usually on the private property for a single family with a garden or a yard and a gate.
APARTMENT UNIT IN A PRIVATE HOUSE/MULTI-FAMILY HOUSES

Apartment unit in a private house is like a cooperative house referring to a building under 4 stories, and gross area under 660㎡ per 'dong'. Many different families can live in the same building because the living area is built separately. Therefore, each household separately file registration thus leasing or having ownership is feasible and a transfer income tax is also levied separately.

Multi-family house
  • It is similar to apartment unit in a private house except that Multi-family house is composed in 19 households and that the gross area of the building is under 660 ㎡. However, while the Multi-family houses is segregated to an individual house and can be constructed up to a 3 stories building, it is segregated to a cooperative houses and that it could be constructed up to a 4 stories building.
TOWNHOUSE

Apartment unit in a private house is like a cooperative house referring to a building under 4 stories, and gross area under 660㎡ per 'dong'. Many different families can live in the same building because the living area is built separately. Therefore, each household separately file registration thus leasing or having ownership is feasible and a transfer income tax is also levied separately.

APARTMENT

In order to maximize the use of land under the current situation of Korea, the most popular housing type is a congregate housing method. Over population compare to land is not only a housing problem but is also a social issue and that is the reason why many apartments are being built to get the most out of the small land. The biggest advantage of living in an apartment would be the convenience it could offer.

BUYING A HOUSE

BUILDING A NEW HOUSE
  • To build a house, the concerned party should visit the district office with the architect, apply for a permission to construction and receive an approval of building usage and final inspection. In this case, the concerned party should go to a registry office, go through a ownership registration process and pay necessary taxes such as an acquisition and a registration tax.
  • (Inquiry: Division of Construction at Seocho-gu District Office 82-2-2155-6820)
SELLING
  • In selling a house, the concern parties will have to establish a contract in between but in general, the process is carried out by a real estate broker. In this case, a fixed service fee (that proportion to the selling price) is to be paid to the broker who conducts the transaction. Once the selling contract is completed, the party should confirm the land register and public land price and receive whatever document is necessary. Lastly, the transfer of ownership must be registered at a registry office (court).
  • (Inquiry: Division of Real Estate and Information at Seocho-gu District Office 82-2-2155-6920)
LEASE OR RENT

There are two kinds of lease in Korea; Monthly and Jonse. Monthly type is a tenant pays monthly rental fee every month with a certain amount of deposit and when the established contract is over, then the deposit is reimbursed. Jonse is for a tenant to use the property for a fixed period of time (Usually about 2 years) by deposit or entrust a lump sum amount of money as a deposit which would be also reimbursed when the contract is over. But sometimes there is trouble with the Jonse reimbursement thus, one must visit the district office to settle a 'Confirmation Date' in order to secure a legal protection.

Appointed the Global Real Estate Agency
Status of the Centers on Child Abuse and Neglect
No Name of Office Representative Tel(Fax) Address of Office Language available
1 Banpo114 Certifeid Real
Estate Agency
Lee, Dongha 82-2-595-5982
(82-2-595-5909)
M-14, 938, Banpo-Dong, Seocho-gu English
2 Hanbo Certified Real
Estate Agency
Park, llkwon 82-2-532-7050
(80-2-536-8524)
3-3, Banpo Mido Sangga, 60-4, Banpo-dong,
Seocho-gu
English
3 Posco Certifeid
RealEstate Agency
Bae, Jungsoo 82-2-525-0027
(82-2-587-5911)
102, 1444-21, Seocho-dong, Seocho-gu English
4 Nambuk Certified Real
Estate Agency
Lee, Ohsung 82-2-577-9498
(82-2-577-9407)
1F, 321-2, Yangje-dong, Seocho-gu English