Finding An Apartment When In Seoul
Many foreigners come to South Korea to enjoy its amazing lifestyle. This includes spending their vacations in one of its many world class hotels, such as the prestigious Samsung World. However, tourists usually choose to rent an apartment by the day. This way, they could experience a more authentic lifestyle while still making a decent amount of savings. Note: This post is largely focused on furnished apartments in Seoul, but could 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 flats and the more expensive the costs will be. To get a better idea about the prices of different buildings, check out this table:
Studio apartments: 아파트 As the title would imply, studio flats 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 might want to visit. Compared to villas, studio apartments may be cheaper as they're usually rented by the day. They are best for students that are short on money but still need somewhere to live. Other than being an ideal place to live, a studio flat in Seoul is also known for its high safety profile and low crime rate.
Villas: A relatively new kind of apartment buildings, villas provide more space than studio flats and are generally considered more luxurious. If you would like to rent a villa in Seoul, then be sure to find one that offers good amenities like a swimming pool, game room and so forth. Some villas even offer security and other convenience packages. Due to the growing demand for these types of villas, prices have become rather expensive as well.
Deposit: A significant element when renting an apartment or staying at a villa in Korea is the cost of rent. Before you sign any agreement with a rental business, you should inquire 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 might impose stricter rules about how much money you need to deposit.
Accommodations: When living in another country for quite a long time, it may become difficult to adapt to the culture. This might lead to problems with your apartment complex. Before you decide to rent a location, make sure 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 help you 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 an idea on where to start looking for a place to stay when in Seoul.
Jeonse System: Many people who rent an apartment in Seoul use the Jeonsee system. This system resembles the Euro pockets system where the flat owners to deposit a certain amount of their monthly earnings into a special bank account. They then 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 cover your rent. They simply check your account once a month to make sure that the money has been deposited. If your landlord doesn't provide any income, you should consider finding a home to rent instead of paying rent with your key money.
Apartments in Seoul are supplied by major international and national apartment buildings as well as property management companies. The rates for flats are usually higher than those in metropolitan cities but they are still cheaper in comparison to other developed nations like the US and UK. It is easy to get an apartment that you rent in Seoul without needing to worry about its location, cost of utilities or the standard of the building.
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