Finding An Apartment When In Seoul
Many foreigners come to South Korea to appreciate its amazing lifestyle. This includes spending their holidays in one of its many world class hotels, like 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 nice quantity 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 expense of apartment rentals in Seoul depends largely on the place. The bigger the city, the pricier the flats and the more expensive the prices will be. To get a better idea on the prices of different buildings, check out this table:
Studio apartments: As the title would imply, studio apartments are one-room dwellings that normally come with one or two bedrooms. Due to their small size, studio flats are often located far from tourist destinations or other areas where tourists may want to visit. In contrast to villas, studio flats might be cheaper as they are usually rented by the day. They are ideal for students who 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 famous 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 usually considered more luxurious. If you want to rent a villa in Seoul, be certain that you find one that offers good amenities like a swimming pool, game room and so on. Some villas even provide security and other convenience packages. Due to the growing demand for these types of villas, prices are now rather expensive as well.
Deposit: A significant element when renting an apartment or staying in a villa in Korea is the price of rent. Before you sign any agreement with a leasing company, you should ask them about the required deposit. The deposit may vary based on the rental company and sometimes, even between apartment complexes. You must always read the contract thoroughly before signing it since some businesses may impose stricter rules on how much cash you will need to deposit.
Accommodations: When living in a different 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 decide to rent a place, 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 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 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: Most 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 the monthly earnings into a special bank account. Then they use this money as the main key money for their apartment. Some landlords also offer a weekly or monthly income that you can use to cover your rent. They just check your account once in a month to be certain 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 national apartment buildings in addition to 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. You can easily get an apartment that you rent in Seoul without having to worry about its own location, cost of utilities or the standard of the building.
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