Finding An Apartment When In Seoul
Many foreigners come to South Korea to appreciate its amazing lifestyle. This includes spending their vacations in one of its many world class resorts, such as the prestigious Samsung World. However, tourists usually choose to rent an apartment by the day. This way, they can experience a more authentic lifestyle while still making a decent quantity of savings. Note: This post is largely focused on furnished apartments in Seoul, but would be applicable to privately owned apartments elsewhere in Korea.
The cost of apartment rentals in Seoul depends mostly on the location. The bigger the city, the pricier the apartments and the more expensive the costs will be. To get a better idea on the costs of different buildings, check out this table:
Studio apartments: As the title would imply, studio apartments are one-room dwellings that usually come with one or two bedrooms. Because of their small size, studio flats are often located far from tourist destinations or other areas where tourists may want to go to. In contrast to villas, studio flats might be cheaper as they're usually rented by the day. They are best for students that are short on cash but still need somewhere to live. Apart from being an ideal place to live, a studio flat in Seoul is also famous for its high safety profile and low crime rate.
Villas: A relatively new form of apartment buildings, villas offer more space than studio apartments and are usually considered more luxurious. If you want to rent a villa in Seoul, then be certain that you find one which offers good amenities like a swimming pool, game room and so on. Some villas even offer security and other convenience packages. As a result of growing demand for these kinds of villas, prices are now rather expensive as well.
Deposit: A significant factor when renting an apartment or staying at a villa in Korea is the price of rent. Prior to signing any agreement with a rental company, you should ask them about the required deposit. The deposit may vary based on the rental company and from time to time, even between apartment complexes. You should always read the contract thoroughly before signing it since some companies may impose stricter rules about how much money you need to deposit.
Accommodations: When living in a different country for quite a long time, it may become difficult to adjust to the culture. This may lead to problems with your apartment complex. Before you decide to rent a place, be certain that you have enough funds to support yourself for a month or two while you study in Seoul. A monthly budget is advisable since this will allow you to avoid having any financial difficulty when adjusting to the new culture. You can ask your friends or colleagues if they have any flats they may want to rent so that you will have some idea on where to look for somewhere to stay when in Seoul.
Jeonse System: Most people who rent an apartment in Seoul use the Jeonsee system. This system is similar to the Euro pockets system in which the apartment owners to deposit a certain amount of their monthly earnings into a special bank accounts. Then they use this money as the main key money for their flat. Some landlords also offer a weekly or monthly income which you can use to pay for your rent. They simply check your account once in a month to make sure the money was deposited. If your landlord does not provide any income, you should think about finding a home to rent rather than paying rent with your key money.
Apartments in Seoul are provided by major international and 오피스텔 national apartment buildings as well as property management companies. The rates for apartments are usually higher than those in metropolitan cities but they are still cheaper in comparison to other developed countries such as the US and UK. It is easy to get an apartment for you to rent in Seoul without having to worry about its location, cost of utilities or the quality of the building.
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