Apartments in Kyungsung

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Medd
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Joined: 09/20/2010 - 11:45
Apartments in Kyungsung

Hello all,

I am looking for a nice, big apartment in the Kyungsung area for the end of December and was wondering if anyone living in Kyungsung could recommend places or apartment buildings in the area to check out.

My school is paying for my apartment and is shopping around for me, but I thought I would be further ahead if I could find someone living in a building in Kyungsung to recommend their building as the school has given me the final say on which apartment I take.

Any suggestions are greatly appreciated!

Barry

lee-bum-suk
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Joined: 10/26/2009 - 08:38
Re: Apartments in Kyungsung

If your school is paying for it don't get your hopes up. You might be confined to a moldy one-room. I'm not saying it is so but be prepared.

 

mattsid
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Joined: 09/15/2009 - 15:13
Re: Apartments in Kyungsung

Yep do you know how much they are willing to shell out. For about a 25 pyeong you are looking at at least 100,000 bucks for some of the newer places the prices are higher.

To answer your question there aren't a huge amount of apartments in KSU. There are the Perugio apartments right be the subway. Close to KSU though is LG Metro City in Yong Ho Dong.

Medd
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Joined: 09/20/2010 - 11:45
Re: Apartments in Kyungsung

The school is offering to put up key money plus a monthly allowance. I don't mind paying more than the allowance to have a good place.

Maybe I need to look a subway stop or two away.....

lee-bum-suk
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Joined: 10/26/2009 - 08:38
Re: Apartments in Kyungsung
If they are putting up chunsae(deposit) and wolsae(monthly rent) that means they don't have enough deposit money.  Offer to put the utilities in your name that's common  but don't under any circumstances be responsible for the monthly rent.  You don't want a knock on your door asking where is my rent money. I only say this as I've been in this situation.    
mattsid
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Joined: 09/15/2009 - 15:13
Re: Apartments in Kyungsung

I've just spent the last 2 weeks looking for  new place after my landlord sold my current place. In nearly 2 years of living here key money has doubled and rents seem to have gone up nearly 30%. To get somewhere half decent in a decent location the going rate seems to be around 20 million key money and 700-900 thousand a month rent. Now there are the studio loft style apartments around Kyungsung that you can get for 5 million and about 500 bucks a month. But, I wouldn't call those large, but sure beat a one room.

You mentioned moving down a few subway stops, but unless you are willing to live a whole bunch of stops away prices are going to be pretty much the same for this whole area. Nam Gu and Su Yeong Gu are highly sort after areas to live in and prices reflect this.

So you should really try and find out how much they are willing to shell out. Then people might be able to point you in the right direction.

lee-bum-suk
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Joined: 10/26/2009 - 08:38
Re: Apartments in Kyungsung

I would live in my car or on a park bench before I would ever pay monthly rent in those amounts. $500 is insane but the other numbers quoted 7-900,000w/month rent is simply the pinnacle of stupidity.  If a person doesn't have enough key money then they need to buckle down, save and live in a dwelling that fits their lack of responsible savings.    

Live within your means people. I certainly didn't get where I am today by throwing those kinds of numbers out the window every month. Yikes!

 

mattsid
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Joined: 09/15/2009 - 15:13
Re: Apartments in Kyungsung
What do you pay LBS? 4 years ago good decent apartments could be picked up for 5 million key money and 500 a month. But now, prices have just got plain ridiculous. Of course fairly static average teachers wages are not helping the matter. 
lee-bum-suk
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Joined: 10/26/2009 - 08:38
Re: Apartments in Kyungsung

I own my house outright Matt but I live in Masan, I still think prices here are expensive for what you get but they aren't anywhere like the crazyness of some areas in Busan so I've heard.

Look, I'm not better than anyone else(really) but I just couldn't fathom with let's say 700rent and utilities 2-300k= 1,000,000/month. That is for most teachers damn near 1/2 a pay check. If you are doing privates and can afford it so be it but I don't understand why people would toss money like that way and every month. I thought 'to save money' that's the only reason why expats live in korea.

You are better off getting a room in a love hotel to be honest; 500k all included and not paying any chunsae. Many of those places have nice trimming, internet, nice bathrooms. 

phatt60
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Joined: 02/23/2010 - 21:41
Re: Apartments in Kyungsung

Yeah, we should all listen to Mommy LBS.  He is a very responsible guy, and one of a small group of people who know exactly how to live in Korea.  (The rest of us are so stupid!)  LBS has an amazing penthouse, has three tigers, and a roller coaster in his amazing apartment.

In Suyeong, I got a 1bedroom apartment (separate rooms), 18 pyung, for 5,000,000 key money and 450,000won a month.  Usually schools put up 300,000~400,000 a month for rent.  But the 5,000,000 is the standard key money.  If you want more than a separate bed room or loft, you have to go up to 10,000,000won.  Two years ago, and again this month, I searched for weeks looking for an apartment from Daeyon to Suyeong with the same standards as you.  And it looks like 5,000,000key money and 600,000won a month is what you are likely to pay for 1~2 bedroom apartment.

lee-bum-suk
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Joined: 10/26/2009 - 08:38
Re: Apartments in Kyungsung
Phatt, I don't have tigers anymore they scratched the sofa and ate my slippers. 
gilbert.a.h
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Joined: 10/07/2010 - 13:05
Re: Apartments in Kyungsung

I hope those tigers are in a good home now. I wanted to get a couple, but I just don't have the room. You know, in some areas in China, they eat tiger testicle soup. Kinda wastes the rest of the tiger meat though. Too bad they can't just learn to surgically remove them and keep the tiger fresh  and sterile. But I guess that is what has to happen when you are not powerful enough in bed. You have to go out and hack off some animal's reproductive organ to make yours worth something.

Wow, you guys are getting apartments that are one bedroom for that price? That is a decent price. I wish I could do that. I live in the cheaper area, I think, in Hadan. I've got a one room that I guess is about 8 pyeong. It would have been neato if I could have had a place that has privacy from my front door. It isn't like people can see inside, but even when the old woman with the flyers gently tapes on to my door, it sounds like 50 rats clawing their way into my room.

BusanGuy
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Joined: 08/16/2010 - 17:30
Re: Apartments in Kyungsung

Go to Dong-il apartments, next to Nike store past exit 5 I think....you could do 500/month with 5mil down. maybe your school will pay 3-400. Nice lofts. LG will be really expensive for your school. You need at least 10mil and I dont know any hagwons that will put down 10 mil for you. I live in LG and rent out the extra 2 rooms.


Save your money...get your own place.

Medd
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Joined: 09/20/2010 - 11:45
Re: Apartments in Kyungsung
My school will pay up to 10 million key money. Would LG be worth checking out? I don't want a roommate.....
elmobuzz
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Joined: 09/21/2009 - 11:55
Re: Apartments in Kyungsung

i would check the yulim apartments next to the gwangan subway station.  you are only a few subway stops from kyungsung and close to the beach, too.  a friend of mine just moved into a one room 13 or 17 pyung there and loves it.  his school paid the deposit, but i fail to remember if it was 5 or ten million.  they are nice apartments.  another place to check is the lotte gold rose apartments.  they are in between the gwangan subway station and the suyeong stop, on the right as you walk.  right out the door from one of the exits.  they are nice, think my friends paid 550 for a one bedroom.  they kept their hamsters and make-up table in it and had their bed in the big room, but that really has nothing to do with it

mattsid
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Joined: 09/15/2009 - 15:13
Re: Apartments in Kyungsung

Just to qualify what I am about to say. I have just spent the past two weeks looking for a new apartment in the exact area the OP wants to live so I kind of know the going rates. These are your options from the places I looked at.

LG Metro, Yong Ho Dong (24pyeong, 3 bedrooms) Built 2001-2005- 10 million key. Cheapest I was offered was 800 a month.

Hyundai Beach, Across the road from LG (24 pyeong, 3 bedrooms Built 1998 I think. A little older than Metro. 10 million key, 700 a month.

Samik Beach Apartments, Namcheon / Gwangan. (24 pyeong, but noticeably smaller to the above due to the inclusion of hallway and elevator) Built early 80's but plenty have been renovated (수리 is the Korean word for renovation). 10 million, 600 a month. Great great location right next to the beach. Walkable to Kyungsung. Downside, no control over your heating in winter, which is cranked up to high 24 hours a day leading to astronomical heating bills in the winter. 

Then there are several Studio / Loft style places. Dong Il Suites a few doors up from Outback, Verdi something in Dayeon next to the Family Mart. These places are all 5 million and 500 a month for about 17 pyeong with a loft. Usually kitted out with refrigerators and washing machines. 

Finally you have the villa option. Which you can get for 10 million and prices around 400-600. You would probably require a real estate agent to search these places out for you.

Oh and don't believe anything you find on Korean real estate sites. The majority of properties on there don't exist, or have been taken. They seem aimed to get you through the door. The best thing to do is find an apartment block that you like and find the real estate agents around there and just tell them what you have to spend. Korean would be required though.

lee-bum-suk
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Joined: 10/26/2009 - 08:38
Re: Apartments in Kyungsung

You could check the electricity or other poles around the area where you want to live.  There are all ways ads. for rental places on them.

Also one should get the registration of the apt. itslef to make sure the owner is actually the owner and verfiy that the place isn't too heavily mortgaged. Koreans have a a unique way of pretending to be rich when they aren't. Don't rent an apt. if there are outrstanding loans/leans/ highly leveraged on the thing in excess of the value of the place. If the owner goes belly up you you'll be 3rd in line to get nothing upon auction(years later)

IMO I wouldn't even rent a place that wasn't paid for in total.  Happy hunting!!

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laniakea
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Joined: 06/14/2010 - 10:04
Re: Apartments in Kyungsung

I am more specialized in officetel type housing in Kyungsung, Metro City, and in Jangsan Haeundae.  The 21 Century City, DaeSeung Tower, and also Marronnier Town are quite spacious and reasonable in terms of deposit with monthly rent fee as well as one or two year chunsae available.  All those three are locating nearby the main and back entrance of KyungSung Univ., among which 21 Century is the oldest.  But ironically the most deposit, rent, and maintenance fees are required to rent there with around 10 mil and 70 or 80 monthly plus utility; all apartments have nice view facing KyungSung Univ.  My office is actually locating in there.  DaeSeung Tower or Marronier Town are with 5 mil or 10 mil and 40 0r 45 monthly.

If you and your school wan to go with chunsae,  you can ask your lease under your name.  Before you sign on the lease, you shall want to inspect the real estate registration at the registry of the local Court about the financial history of your future apartment with a tiny applicable fee.  The most important tip is that once your lease form is completed, I suggest to get it registered at an office of judicial scrivener nearby a local court.  In such a way, your chunsae or deposit will be legally secured under whatever hazardous condition or situation occured afterward with your landlord's property which is your future apartment.  If in any case, your lent money will be charged back to your landlord by court order of auction.  When you have any question concerning the above Real Estate Laws, please do not hesitate.


Dogarse
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Joined: 04/15/2010 - 23:53
Re: Apartments in Kyungsung

Regarding appartment owners debts, you can pay a small fee at the Gu office and insure upto 20 million won in key money (which is what I think Helen was getting at in her round about way). Of course if it's the school putting up the key money then that is one less worry.

As Mathew said the best bet is to find an area you like and go to the real estate offices (부동산/Budongsan) close by and ask them what they have available.  Excluding real estate offices that cater to the higher end appartment blocks most of them will be plastered pieces of paper that say 왈새 17평 500/50.

왈새/Wolsae means small key money and large monthly rent (as opposed to chonsae which is a large deposit with no monthly rent).

평/pyong is the size of the appartment.  24 pyong is usually a very comfortable 2 or 3 bedroom place with a living room and kitchen.  Great for one person but pretty crowded with two (especially if you don't sleep together).  21 pyong is similar but probably only 2 bedroom and a little smaller. 17-19 pyong is usually a single bedroom with a seperate kitchen/living area or  relatively large one room with an upstairs loft.  Anything less than 17 pyong I would consider small.

The 500/50 refers to the rent.  5 million deposit (500만완/man won) and 500,000 (50만완/man won) monthly rent. 1000/35 would therefore mean 10,000,000 deposit and 350,000 monthly rent.

I know there is a Budongsan next to the Angel-in-us coffee shop in Kyungdae that seems to have a lot (50 odd) apartments available judging by the sign on their windows. I would suggest that as a good place to start.  I'm not sure what kind of apartments or villas exist in their back streets there but there may be some gems.  Now also may be a good time to look since students are graduating or heading to their hometowns for vacation.


mcj1983
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Joined: 10/06/2009 - 00:37
Re: Apartments in Kyungsung

Some very interesting info there guys, if I could trust myself to commute 30+ mins in the morning, I'd be very much down for it!


Anyone know of anything closer to Dongnae/PNU/Sajik? 

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laniakea
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Joined: 06/14/2010 - 10:04
Re: Apartments in Kyungsung

What I mention about a bad case, concerning with your deposit, or key whatever, that you supposedly expect to get back when you leave, is that sometimes no quite frequently than rarely, your rental apartment can be handed over to a court auction due to your landowner's decision.  In that, you had to have your lease registration in order for you to reclaim your deposited money back: if it is your school or department as far as you participate in the payment of monthly rent fee with it, you will have the benefit of what you will have paid at most the same percentage of your contribution as a whole.  

What you do at the local municipal office called Gu-cheong is only about your residential registration.  The legal registration of your lease form is about your financial security as well as about your right as a LT resident under the korean real estate laws.  Thanks (Doug, for your additional comment about their paperwork as a long term teacher).