Finding An Apartment When In Seoul
Many foreigners come to South Korea to appreciate 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 decent 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 costs 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 might want to visit. Compared to villas, studio apartments might be cheaper as they're usually rented by the day. They are best for students who are short on cash 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 form 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, then be sure to find one that 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 are now rather expensive also.
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 leasing 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 must always read the contract thoroughly before signing it since some businesses might impose stricter rules on how much money you will need to deposit.
Accommodations: When living in a different country for quite a long time, it might become difficult to adjust to the culture. This might lead to problems with your apartment complex. Before you decide to rent a location, be certain 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 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 utilize the Jeonsee system. This system resembles the Euro pockets system in which the flat owners to deposit a certain amount of their monthly earnings into a special bank accounts. Then they use this money as the key key money for their flat. Some landlords also provide a weekly or monthly income which you can use to cover your rent. They just check your account once in a month to make sure that the money was deposited. If your landlord doesn't 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 nations like the US and UK. It is easy to get an apartment for you to rent in Seoul without needing to worry about its location, cost of utilities or the standard of the building.
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