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, like the prestigious Samsung World. However, tourists usually choose to rent an apartment by the day. By doing this, they can experience a more authentic lifestyle while still making a nice amount of savings. Notice: This post is largely focused on furnished apartments in Seoul, but would be applicable to privately owned apartments elsewhere in Korea.
The expense of apartment rentals in Seoul depends mostly on the location. The bigger the city, the pricier the apartments and the more expensive the prices will be. To get a better idea about the prices of different buildings, check out this table:
Studio apartments: As the name would imply, studio flats are one-room dwellings that normally come with one or two bedrooms. Because of their small size, studio apartments are often located far from tourist destinations or other areas where tourists might want to visit. Compared to villas, studio flats might be cheaper as they're generally rented by the day. They are ideal for students who are short on money but still need a place 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 kind of apartment buildings, villas provide more space than studio apartments and are generally considered more luxurious. If you want to rent a villa in Seoul, make sure that you find one which offers good amenities such as a swimming pool, game room and so on. Some villas even provide security and other convenience packages. As a result of growing demand for these kinds 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. Prior to signing any agreement with a leasing company, you should ask them about the required deposit. The deposit may vary depending 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 on how much money you need to deposit.
Accommodations: When living in another country for quite a long time, it might 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 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 may ask your friends or colleagues if they have any apartments they might want to rent so you will have an idea on where to look for a place to stay when in Seoul.
Jeonse System: Many people who rent an apartment in Seoul utilize the Jeonsee system. This system is similar to the Euro pockets system in which the apartment owners to deposit a certain amount of the monthly earnings into a special bank account. They then use this money as the key key money for their flat. Some landlords also offer a weekly or monthly income which you can use to cover your rent. They just check your account once a month to be certain the money has been deposited. If your landlord does not provide any income, you should consider finding a house to rent instead of paying rent with your key money.
Apartments in Seoul are provided by major international and 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 compared to other developed countries such as the US and UK. You can easily get an apartment that you rent in Seoul without having to worry about its own location, cost of utilities or the quality of the building.
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