• 최종편집 2022-12-30(금)

English
Home >  English  >  dwelling

실시간뉴스

실시간 dwelling 기사

  • A lot of real estate regulations in the metropolitan area have been loosened... The ratio of mortgage loans rises
    The Korean government has lifted all restrcted areas nationwide except Seoul, Gwacheon, Gyeonggi-do; Seongnam (Bundang, Sujeong), Hanam, and Gwangmyeong from real estate regulated areas. An important implication of the deregulation is that more loans can be secured against a house. As a result, nine locations of Gyeonggi provinces, which were tied up as speculative overheated districts, were released. Suwon, Anyang, Ansan Danwon, Guri, Gunpo, Uiwang, Yongin Suji/Giheung, and Dongtan 2 are the targets. Accordingly, all of Seoul and only Gwacheon, Seongnam (Bundang, Sujeong), Hanam, and Gwangmyeong remained as double regulation areas, including the speculative overheating district and the adjustment target area. What does deregulation mean? The regulation that receives the strongest sanctions is the speculation area, but the speculation area is only applicable to some areas such as Gangnam in Seoul. However, this is the principle, and exceptions apply to homeless people and single-homeowners. It is best to inquire with a real estate agent for more detailed mortgage loan ratios. Because it changes too often. In areas that have been completely lifted from these restrictions, you can borrow up to 90% of the house price to buy a house. Some small apartment complexes are 100% available. Are you surprised? Of course, it depends a little bit on what the developer who built the house and the financial institution negotiate. Papaya Story
    • 한국어
    • 행사
    • English
    2022-11-14
  • A golden opportunity for multicultural families to purchase housing, ‘Public rental housing’
    This is the story of the ‘Plan to supply 500,000 public housing for young adults and low-income housing stability’ announced by the government on October 26th. Among the three supply types announced by the government, ▲ sharing, ▲ optional, and ▲ general, we will look at the types of sales that are advantageous for multicultural families. When you buy a sharing-type house, you can buy it at a sale price of 70% or less of the market price. In particular, loans of up to 500 million won (LTV up to 80%) can be purchased at a low interest rate of 1.9 to 3.0% with a maturity of up to 40 years. What's even more surprising is that you have to reside for 5 years, and after this period, you can sell it back to the public (government or local government), and then you get 70% of the profit. (30% goes to the public) Isn't it surprising? That's why sharing-type houses are called 'lottery houses'. It is said that only the person receiving the sale can win the jackpot. ‘Optional housing’ In particular, the initial move-in burden is low. Half of the house price is paid as a deposit, and the other half is paid as monthly rent. ‘General house’   In the case of sharing-type public housing, single youth (15%), newlyweds (40%), first-timers (25%), and general supply (20%) are provided, for the first time in life (20%), multiple children (10%), institutional recommendations (15%), elderly parents (5%), general supply (10%), etc. Institutional recommendations include special provision for multicultural families. Papaya Story                                                 <공급형태별 획기적인 대출한도>
    • 한국어
    • 행사
    • English
    2022-11-07
  • What was the case for foreigners caught illegally in real estate transactions in Korea?
    A foreigner in his 50s, who bought a luxury apartment in Seoul worth 4.2 billion won, claimed in an investigation by the Ministry of Land, Infrastructure and Transport that he had brought in 840 million won of the purchase money several times from abroad. However, as it was found that the daily import limit was excessively exceeded, it was classified as a suspected case of illegal importation of foreign funds. Foreigner B in his 50s, who is staying in Korea on a visiting visa (F1), was classified as a suspected case of unqualified visa rental business after buying three apartments in Gyeonggi-do for 410 million won. In the first planned investigation of ‘foreign housing speculation’ conducted by the Ministry of Land, Infrastructure and Transport, 567 cases of suspected illegal activities similar as above were found. Illegal import of foreign funds Among the types of suspected illegal activities, 121 cases (21.3%) were ‘illegal import of foreign funds’. This can be said to be a case of bringing cash in excess of $10,000 from overseas, or illegally bringing in funds without going through a foreign exchange bank and not reporting it. This is a violation of the Foreign Exchange Transactions Act and is punishable by up to one year in prison or a fine of 100 million won. Unqualified visa rental business 57 cases (10.1%) of ‘unqualified visa rental business’, in which a rental business was conducted without a permit while staying on a visa status in which economic activity was impossible. If you have a visa that prohibits economic activities such as employment, you can buy real estate and live there, but you cannot do rental business. This is a violation of the Immigration Control Act and can be punished by imprisonment for up to three years, or a fine of 30 million won, or deportation. Expedient gift There are many countries in the world that do not have an inheritance or gift tax. But in Korea. When a parent dies and passes the property to their children, if they give more than 3 billion won, they have to pay inheritance tax up to 50%. A gift tax is a tax paid when parents give money to their children while they are still alive. If parents, etc. lend money from real estate transactions to their foreign children, but do not go through the normal rental procedures, it is suspected of being an expedient gift. This suspicious transaction amounted to 30 (5.3%). Trust of name There are 8 cases (1.4%) of ‘trust of name’ where foreigners purchased real estate with their own money and acquired ownership in someone else’s name. Korea has a real-name system for real estate transactions, so you cannot acquire real estate in someone else's name. The reason this system exists is to prevent tax evasion. In addition, 5 cases (0.8%) were used by individual entrepreneurs to purchase real estate after receiving a loan for corporate working capital from a financial institution. Even it is unfair, you have to obey the law According to nationality, 314 cases (55.4%) of Chinese people (55.4%), 104 cases (18.3%) of Americans, 35 cases of Canadians (6.2%), 4.2% of Taiwanese people, 3.5% of Vietnamese people, and 12.4% of other people were found by nationality. By region, there were 185 cases (32.6%) in Gyeonggi Province, 171 cases in Seoul (30.2%), and 65 cases in Incheon (11.5%), with 421 cases (74.2%) in the metropolitan area alone. The Ministry of Land, Infrastructure and Transport is planning to notify relevant agencies such as the Ministry of Justice of any suspected illegal acts, so that each agency will take follow-up measures, such as criminal investigations and fines for negligence. However, among the acts caught this time, it seems that there are a number of cases where foreign residents were unaware of the relevant regulations or did not properly recognize the illegality. It may be a bit unfair for foreigners, but Korean laws must be obeyed. Papaya Story  
    • 한국어
    • 행사
    • English
    2022-11-01
  • A way multicultural families can move into affordable public rental housing
    The Korean government has built and leased a variety of public rental housing to stabilize houses for the underprivileged. These rental housing have the advantage of being able to live for a long time at a low price than the market price. In Korea, where apartment prices are very high, the advantages of moving into these rental housing at low rents are huge. Let's take a look at the types and conditions of three typical rental housing where multicultural families can move in. 1. Types of public rental housing ① Permanent rental house: A small square of about 40 square meters of apartments are mainly supplied to socially vulnerable groups such as those receiving basic livelihoods. The rent is also much cheaper than the national and public rentals, so you can live at 45,000 won per month based on 13 pyeong, which is 30% of the market price. But instead, the living environment is very poor compared to other apartments. There are many places where the buildings are severely deteriorated because there are many corridor-type apartments built mainly in the 1990s to early 2000s. ② Citizen rental house: This is a public rental housing designed for the purpose of promoting housing stability for the homeless and low-income group. The lease period is 30 years, and the income level is re-checked every two years and the contract is renewed. The exclusive area is less than 60 ㎡ and the rent is 60~80% of the market price. ③  Haengbog house:  Haengbog house is a rental housing mainly supplied to college students, young people, and newlyweds. It is same as citizen rental in that the exclusive area is less than 60㎡ and that the rent is 60~80% of the market price. However, the income standard is less than 100% of the median income, which is more flexible than the citizen rental. Since  Haengbog House is built in the middle of the city considering the characteristics of people who want to live in the city, transportation is convenient. There are many apartments built within the last 5 years, so the living environment is nice. ④ Other rental house: In addition, there are various types of rentals, such as public rental apartments with conversion to sales that can be sold after rental, long-term Jeonse housing supplied through a Jeonse contract, and the purchase living rental housing considering for those who wants to stay in the same living. 2. Resident Eligibility by case    For the move in qualifications for each type of public rental housing, follow the table below.   3. How to research public rental To move into public rental housing, it is recommended to use rental housing portal My Home (www.myhome.go.kr, 1600-1004) which is created by the government. Although the Korea Land & Housing Corporation mainly does business for public rental housing in Korea, it is not easy to find and apply a large number of rental housing alone because local governments also does business with building and rental houses. If you call 1600-1004, information customized to the needs of multicultural families is provided. Ask about the type of housing you want and the size of the deposit, and find a rental housing that suits you. If you are in a more difficult situation, it will also connect you with government support such as payment of housing benefits and emergency housing assistance. If using the phone is inconvenient, you can visit the ‘myhome’ website and use the ‘self-diagnosis’ service. By checking various questions, you can find the rental housing you want. Above all, if you can't find a desired condition of rental house you right away, you can use the alarm service to notify you by text message when the rental house you want is announced. 4. How to apply for rental housing You can apply for public rental housing in the following three ways. All three methods do not provide multilingual services, so it can be difficult if you do not speak Korean well. It would be good to get help from the Multicultural Family Support Center or Papaya Story. ① online application Log in with joint certificate at ‘LH Subscription Center’ → Look up Housing complex → Look up Housing type inquiry → Confirm notification → Confirm the Rank → Write a pledge → Write a score sheet → Check application details → Complete application ② Mobile application Install ‘LH Subscription Center’ app and login to joint certificate → Click rental housing and then click Subscription Application → Select a complex → Select a rank → Confirm notes and agree to personal information → Fill out subscription application and scoring criteria information → Submit subscription application ③ Application for on-site visit Bring the submitting documents and required documents to the on-site of subscription evidence and submit it at the applied place. Reporter Hasung Song
    • 한국어
    • 행사
    • English
    2022-09-05
  • Intensive guidance and inspection to improve the living environment of foreign workers will be implemented
    Recently, as the number of corona infections has decreased, the number of foreign workers entering the country is increasing significantly, with 6,208 entering the country in June alone due to increased flights. These are mostly workers who were issued employment permits in 2020 and 2021 but were unable to enter the country. The government is actively attracting foreign workers with the goal of allowing 10,000 people to enter Korea every month in the second half of this year. However, in some areas, foreign workers are still living in temporary buildings such as containers, which is a problem. Accordingly, the Ministry of Employment and Labor announced that, since last year, in order to improve the residential environment of foreign workers, it has been disallowing employment permits to local governments if illegal temporary buildings are provided as accommodations for foreign workers. If a temporary building needs to be used as a lodging facility depending on the working conditions such as a rural area, they must obtain a construction report certificate (temporary accommodation) from the local government, and it is illegal if they do not receive it.  In addition, the Ministry of Employment and Labor makes it mandatory for all industries to submit visual data (photos and videos) other than the dormitory facility table when applying for an employment permit so that foreign workers can fully understand information about housing facilities. Furthermore, if a foreign worker residing in an illegal temporary building wants to, it is allowed to change the workplace, even without the consent of the employer,  which would also not be counted as official workplace changes (3 times in 3 years, 2 times in 1 year and 10 months). Also, the Ministry of Employment and Labor conducts on-site inspections of 3,000 workplaces every year, intensively inspecting the living conditions of foreign workers in dormitories. In the inspection of foreign workers' housing conditions, it is necessary to check the type of accommodation, whether residential facilities are recognized by law, compliance with facilities such as firefighting facilities, wash bath facilities, and conditions of heating and cooling facilities, etc. Inquiries: Ministry of Employment and Labor (044-202-7148) Reporter Hasung Song
    • 한국어
    • 행사
    • English
    2022-07-14
  • Government announced on June 21 of real estate measures... Will the Korean real estate market be stabilized?
    The Yun Seok-yeol government announced its first real estate measures on June 21. This measure, which has attracted the attention of many Koreans, is of great interest to foreigners living in Korea for a long time. The core of this announcement is largely divided into ‘reorganization of the method of calculating the sale price’ and ‘stabilizing the rental market’. Expansion of disposal period by 2 years If you purchase an apartment with a mortgage loan in a real estate transaction regulated area, you must dispose of the house you used to live in. This disposition period has been extended from six months to two years. Until the existing house is disposed of, it can temporarily become two houses, which gives time for this. The government also abolished the obligation to change the address written in the resident registration to the newly purchased house. In this case, the house owner does not have to move to the newly purchased house immediately, so the rent would be given. Thus, the government expects that the Jeonsei and monthly rent market will be stabilized. Eliminate residency obligations In order to stabilize the Jeonsei and monthly rental market, the government has increased the benefits for “win-win landlords” who have raised the rental price to less than 5%. Since August 3, 2017, when transferring (selling) a house acquired in a real estate regulated area such as Seoul, in order to be exempt from tax, the actual residence requirement must be met for at least two years. However, this will be exempted for win-win landlords. The purpose is to prevent landlords from sending out tenants to meet the actual residence requirements and encourage them to refrain from raising rental prices. Acquisition tax reduction for the first time in life The government is planning to allow any first-time home buyer to receive a reduction in acquisition tax without restrictions on house price and annual income. However, the maximum reduction is limited to 2 million won. Also, Korea required a lot of tax on two houses per household, but if one house is a low-cost house of 300 million won or less in a local area, it will be considered as one house per household. Reorganization of the price ceiling system The government partially reorganized the price ceiling system to stimulate the supply of apartments. The price ceiling system is a system that the government prevents from raising the sale price above a certain level when setting the sale price of an apartment. Because of this, the supply of apartments contracted because they thought that even if they built apartments, there would not be enough profit left. The government reorganized the sale price ceiling system, allowing the reconstruction and redevelopment associations to broadly recognize the costs used in their maintenance projects so that the sale price could be slightly higher. Maintenance business refers to demolishing old apartments and building new ones. Through this, the rate of increase in the sale in lots of apartments subject to the price ceiling system, which the government expected, varies depending on the size, location, and sale in lots of the complex, but is approximately 1.5 to 4%. Reporter Hasung Song
    • 한국어
    • 행사
    • English
    2022-06-23
  • Real estate agent advises landlord to raise monthly rent
      In Korea, there is a right to request a renewal of the contract and a cheonsei monthly rent cap, so I am aware that the landlord cannot release the tenant at will or raise the cheonsei and monthly rent more than 5% within a certain period. However, there are cases when real estate agents know that I am a foreigner and think that I would not know well. So they either ignore the tenant's right to apply for contract renewal or tell the landlord to raise the monthly rent a lot. It is very unfortunate to be deceived by a real estate agent like this. Where should I report this? The right to request a renewal of the contract refers to the right to request the landlord to renew the contract only once if the tenant wants to continue living in the building after the contract period (usually two years) of the housing lease. However, if the landlord wants to live in that house, the tenant cannot exercise the right to apply for contract renewal. The cheonsei monthly rent cap allows the landlord to raise the cheonsei monthly rent by only 5% if the tenant exercises the right to renew the contract and decides to live for two more years. If the landlord disregards the right to request a renewal of the contract and the cheonsei monthly rent cap, in case the landlord is doing a rental business, you can report it to the local government. The landlord will then face penalties such as fines for negligence. However, if the landlord is not doing a rental business, you can apply for mediation with the Housing Lease Dispute Conciliation Committee. However, in this case, the landlord will not be penalized for negligence. The Housing Lease Dispute Conciliation Committee can only mediate between the tenant and the landlord. If mediation by the Housing Lease Dispute Mediation Committee does not work, you can file a civil lawsuit with the court. For one thing, like the questioner, many foreign residents seem to feel that real estate agents raise rents in the middle. However, given the nature of the real estate market in Korea, this is a natural act. For example, if you put your house up for sale to a real estate agent yesterday, and a buyer shows up today and wants to buy the house right away, the real estate agent can advise the landlord to raise the price of the house. Conversely, if you put your house up for sale and no buyers show up after several months, your real estate agent may advise the landlord to lower the price of your home. It doesn't matter if the landlord takes the profit after raising the house price or monthly rent. It becomes a problem if the real estate agent intercepts the profit without letting the landlord know. Therefore, if a real estate agent asks the landlord to raise the rent in front of a person who comes to see the house, it is very rude and you can protest strongly. However, that in itself is not punishable. Legal Consultation for Foreign Residents ‘Papaya Story Living Legal Visa Support Center’ English 031-8001-0211 / Law Firm (Limited) Min ‘Immigration Legal Support Team’ 02-3477-5550, email beobil2002@lawmin.net
    • 한국어
    • 행사
    • English
    2022-06-02
  • Real estate speculation by foreigners, what would you do?
    A Chinese permanent resident residing in Ansan, purchased a villa-type house located on the beach in Ansan City for the purpose of real residence after obtaining a land transaction permit and even changed the place of stay. However, he violated the Immigration Control Act and the Act on Real Estate Transaction Reporting, such as not living in the house for even a single day. Person A disguisedly moved into the land transaction permission zone and acquired the land. This is real estate speculation. It was discovered that a Korean-Chinese living in Seoul, B, bought an apartment by submitting a land use plan, saying that he needed a place to live in the area after receiving a false certificate of employment at a restaurant run by an acquaintance. In addition, Korean-Chinese C, to acquire a house in Ansan-si, submitted a financing plan with 100% of his own funds and received permission. After reporting that he would live in the house, he rented the house and received monthly rent. Mr. C received the house purchase funds from his younger brother, and it was confirmed that the contact information and account number written in the lease agreement were also owned by his younger brother, and it was confirmed that the younger brother would receive the monthly rent. 34 foreigners and corporations, including Korean-Chinese from China, who engaged in illegal speculation worth 10.4 billion won in illegal methods such as disguised transfer or title trust within the land transaction permission zone, were caught by the Gyeonggi-do Special Judicial Police Corps. Gyeonggi Province designated all 23 cities and counties in the province as areas for permission to trade land for foreigners and corporations in October of last year to block foreign and corporations from trading in real estate for speculative purposes. This investigation is for the first time since the designation of the land transaction permission zone to detect illegal speculation in the land transaction permission zone for foreigners and corporations. Kim Young-soo, head of the Gyeonggi Provincial Justice Special Judicial Police Unit, held a press conference at the Gyeonggi Provincial Office on the 22nd and said, “From last October, among the land transaction permit zones, Ansan and Siheung were intensively investigated for illegality. A case has been filed, and 29 people are under investigation.” By crime type, 31 persons were foreigners, including ▲26 persons who obtained permission through fraudulent methods such as disguised transfer, ▲3 persons obtained illegally using false documents, and ▲2 persons who obtained illegal permission through a title trust, etc. There are ▲ 3 illegal speculation activities. According to the current law, if permission is not obtained within the land transaction permission zone or permission is obtained by illegal means, it is subject to imprisonment for not more than two years or a fine equivalent to 30% of the officially announced individual land price at the time of signing the contract. Reporter Song Hasung
    • 한국어
    • 행사
    • English
    2021-12-24
비밀번호 :