Travel Reference
In-Depth Information
be brought outside by tenants to a collection area where it has to be separated by type for
disposal or recycling.
Since there are only a handful of companies building them, apartment layouts remain
fairly similar regardless of price. The differences are more apparent in size, quality of the
fittings—higher-end apartments may have touches like marble floors, big built-in closets,
and Jacuzzi tubs—floor number, and location, with units on higher floors and in major cities
costing the most. Prices are also higher for furnished or partially furnished units, which
make up the majority of housing targeted at expatriates and usually come at least with
the major appliances (washing machine, refrigerator, air-conditioner) and sometimes much
more.
COMMONLY USED REAL ESTATE TERMS AND ABBREVIATIONS
•
bojunggum
(
보증금
): deposit or “key money” on a rental property
•
budongsan
(
부동산
): property or real estate agency
•
imdae
(
임대
): for rent
•
jeonse
(
전세
): local rental system in which the tenant gives the landlord a large
deposit (typically around 50-60 percent of the property's value) but no monthly
rent is paid; the deposit is returned to the tenant at the conclusion of the contract
•
mae-mae
(
매매
): literally “buy and sell,” typically appears on the window of prop-
erty agencies that offer sale as well as rental properties
•
pyeong
(also
pyong
or
pyung
,
평
): traditional unit of measurement for housing and
property, equivalent to approximately 3.3 square meters (35.5 square feet)
•
wolse
(
월세
): literally “monthly rental,” Western-style rental system in which the
tenant gives the landlord a security deposit and pays rent on a monthly basis,
with the security deposit to be returned at the conclusion of the contract. Note
security deposits in Korea tend to be high; 5 million won is seen as the minim-
um even for places with low monthly rents, and putting down less will severely
curtail your options.
