Finding An Apartment When In Seoul
Many foreigners come to South Korea to enjoy its awesome lifestyle. This includes spending their vacations in one of its many world class resorts, such as the prestigious Samsung World. However, tourists usually opt to rent an apartment by the day. This way, 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 could be applicable to privately owned apartments elsewhere in Korea.
The cost of apartment rentals in Seoul depends largely 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 costs of different buildings, check out this table:
Studio apartments: As the name would imply, studio flats are one-room dwellings that usually 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 may want to go to. Compared to villas, studio apartments might be cheaper as they're usually rented by the day. They are best for students that are short on money but still need a place to live. Other than being an ideal place to live, a studio apartment in Seoul is also known 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 would like to rent a villa in Seoul, then make certain to find one which offers good amenities like a swimming pool, game room and so on. Some villas even offer security and other convenience packages. Due to the growing demand for these kinds of villas, prices have become rather expensive as well.
Deposit: A significant factor when renting an apartment or staying at a villa in Korea is the cost of rent. Prior to signing any agreement with a rental business, you should inquire about the mandatory deposit. The deposit may vary based on the rental company and from time to time, even between apartment complexes. You must always read the contract thoroughly before signing it since some businesses might impose stricter rules about how much money you will need to deposit.
Accommodations: When living in another country for a long time, it might become difficult to adapt to the culture. This may lead to problems with your apartment complex. Before you choose to rent a place, be 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 may ask your friends or colleagues if they have any apartments they might want to rent so you will have some idea on where to start looking for a place to stay when in Seoul.
Jeonse System: Most people who rent an apartment in Seoul use the Jeonsee system. This system resembles the Euro pockets system where the apartment owners to deposit a certain amount of the monthly earnings into a special bank accounts. They then use this money as the key key money for their apartment. Some landlords also provide a weekly or monthly income which you can use to pay for your rent. They simply check your account once in a month to be certain the money was 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 domestic apartment buildings in addition to 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 countries such as the US and UK. You can easily 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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