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by nerderloo
1400 days ago
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4-member family house rent/buy ratio in Korea is really high because of its unique Jeonse system: https://en.wikipedia.org/wiki/Jeonse Nobody rents 4 member family house because rent is more than mortgage. On the other hand, bachelor studio is rather cheap even in the downtown Seoul(like 1k USD per month at most) Jeonse system is unique in Korea and it really weird. It took me a few years to understand it and it shouldn't really work anymore because the housing price has stabilized in last 4 decades or so. The point being, any of these commentors here who haven't heard of Jeonse, they don't know anything about housing in South Korea. |
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