99% of what you need to know before buying real estate in South Korea

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THE SOUTH KOREAN PROPERTY MARKET IN 2024

If you're thinking about buying property in the Land of the Morning Calm, there are a few things you should know about the market.

Skip the lengthy 100-page reports filled with complex words, old info, and unsupported opinions. This document is different. Data is fresh and presented in easy words, useful graphs, and engaging charts.

After just 20 minutes of reading, you'll know more than 95% of people considering property investment in South Korea.

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PRICES, RENTS AND YIELDS IN SOUTH KOREA IN 2024

How much for a 2-bedroom apartment in Seoul? What are the property yield trends in South Korea? What's the rental income potential in Busan?  

This report will give you solid answers, using data sourced from our analysis of over 1,000 properties that have been available on the market. Then, you will know what you can expect when you're hunting for properties.

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ANALYSIS - IS NOW A GOOD TIME TO BUY?

Is now a suitable time to purchase property in South Korea? Some individuals may be in favor of it, but your South Korean friends might have a contrary viewpoint. Keep in mind, these opinions are subjective and might not be very solid.

In this document, we take the last notable trends in South Korea (prices, yields, inflation, political climate, investor confidence, etc.) and tell you what they mean. Then, you can decide to go ahead or not.

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ANATOMY OF A GOOD / BAD PROPERTY DEAL

Did you check out a property you're thinking of buying? Not sure if it will make a good investment? Well, it's actually not too hard to determine.

Investments that end up going wrong in South Korea tend to have similar features. However, by looking closely at specific factors, we can confidently judge whether an investment is likely to fail or succeed. Curious about what factors to consider? This document covers everything you need to know.

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THE FULL BUYING PROCESS, STEP BY STEP

Do you need a notary or a lawyer? When do we give the deposit in South Korea? How do you ensure proper property ownership? Are there any particularly error-prone stages?

From the start of your property search to the moment you obtain the keys of your property, this document will be your go-to guide. Use it frequently to double-check every important aspect to ensure nothing is overlooked and that everything is progressing as it should.

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24 CONTACTS IN SOUTH KOREA

The right people can make you save time and money. With that in mind, we've compiled a complete list of contacts you'll find indispensable while buying property in South Korea. From A to Z, we've got you covered.

Inside this document, you'll have access to: South Korean real estate agents, property listing websites, South Korean real estate lawyers, property insurance agents, property managers, moving companies, and even expat communities in South Korea.

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WHAT YOU NEED TO CHECK BEFORE BUYING

Navigating strict 'Jeonse' regulations, misunderstanding 'Acquisition Tax' implications, and not considering 'Real Estate Agents'... people often encounter challenges when purchasing property in South Korea.

Without knowing the legal and cultural landscape well, it's easy to fall into common traps that have led many to regrettable financial outcomes. Don't be another one.

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ALL THE DOCUMENTS AND WHAT THEY MEAN

Are you familiar with the 'Jeonse' rental system in South Korea? What should you consider when obtaining a 'Jibun Jeonse' contract? Could you explain 'Chonsei Deposit'?

Our team has reviewed all the documents you'll encounter when dealing with property – whether you're buying, renting, selling, or living in one. Each document is explained briefly: its purpose, when to use it, who provides it, and key things to be cautious about.

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WHERE AND HOW TO GET A MORTGAGE AS A FOREIGNER

If you're seeking financing options in South Korea, this guide will prove to be highly valuable.

We have gathered all the information you need to apply for a mortgage with banks in South Korea. This includes details on eligible banks, step-by-step guidance for the entire process, and helpful tips to increase your chances of getting approved. We also highlight common mistakes to avoid.

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HOW TO RENT OUT QUICKLY

Renting out your property fast in South Korea? Understand their customary way of doing it.

You might not know where to find tenants fast, how to set the right rent, or what to put in the rental agreement.

Here are some useful tips, with insider knowledge, that will help you save time and money.

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FOCUS ON JEJU ISLAND

If the allure of volcanic landscapes and natural beauty enchants you, enjoying Jeju cuisine is a delight, and you appreciate a mix of tranquil island life, unique cultural heritage, and South Korea's UNESCO-listed treasure, Jeju Island calls.

After reading this report, which will take you around 20 minutes, you'll have 95% of the knowledge you need to make the right choice about investing in property there.

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FOCUS ON BUSAN

A comprehensive analysis of the property market in Busan.

Uncover the region's advantages and disadvantages, projected yields, insights into the short-term rental market, prime locations for competitive prices, etc.

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FOCUS ON SEOUL

If a blend of high-tech city life and traditional Korean culture captivates you, enjoying Korean cuisine is a delight, and you're drawn to a mix of dynamic urbanity, historic sites, and South Korea's vibrant capital, Seoul is for you.

This report offers solid facts and data about this place: neighborhood analysis, yields, rentals, budget-based options, market strategies, and pitfalls.