The following map shows some of the more popular areas for foreign residents.
1. Hannam-dong & Itaewon
Hannam-dong, the UN Village vicinity, contains
the residences of several high ranking Korean officials
and many foreign ambassadors. The Itaewon area,
close to the Yongsan U.S. military garrison, is
dotted with apartments, villas and large houses
The big advantage of living in Seongbuk-dong is
its beautiful surroundings and clean atmosphere,
as the hilly area is located near the wooded Mt.
Situated within walking distance of Bukhansan
National Park, it boasts fresh air and scenic beauty.
Living in Yeonhui-dong offers advantages such
as proximity to Seoul Foreign School, the British
School and the Chinese School.
Bangbae-dong is a preferred residence among French people residing in Seoul as the French school is located here.
6. Gangnam & Apgujeong-dong
These areas are very popular with wealthy Koreans.
Besides, many multinational corporations are located
in the Gangnam area.
7. Olympic Park Area
There are several apartment complexes available here that were built for the Olympic athletes in 1988.
Statistics on House Rental
Status by Area
* Flat (over 100 m2)
* Detached House
* Villa (165m2-130m2)
* Villa (65m2-130m2)
Detached House: 800-1,200 Villa: 200-900
* Flat (80m2-140m2)
* Detached House (260m2-430m2)
* Villa (130m2-230m2)
Detached House: 800-1,300 Villa: 350-500
American & European
* Detached House (400m2-660m2)
* Villa (165m2-330m2)
Detached House: 700-1,000 Villa: 350-8,500
Residential areas are spread all over Seoul, excluding the business districts in the northern part of the city. Even in commercial areas in Apgujeong-dong or Sinchon, you will find residential areas behind the main thoroughfares. Besides, in the suburbs of Seoul, there are huge residential complexes in so-called “new cities” that have been developed over the last decade (Bundang, Ilsan, etc). There are different types of payment methods for purchasing or leasing houses in Seoul.
For a foreigner wishing to purchase a house, it
is advisable to seek the assistance of a real estate
agent. The price generally depends on the location
and the age of the building. A real estate agent
will provide additional services like registration.
Rental Type 1: Jeonsea (Key
The Jeonse system is one of the traditional rental options in Korea. When making a contract, you pay 60 to 70 percent of the value of the house as a deposit. There are no monthly payments. This deposit is returned to you upon termination of the lease.
The fact that the Jeonse system has been popular in Korea for so long reflects the high interest rate of Korean banks. There is, however, a tendency these days to replace the Jeonse system with the Wolse system (monthly payment) as bank rates have declined.
Holding a house by lease on a deposit basis
Deposit is returned upon termination (only
principal, not interest)
No monthly payments
Contracting period: 1~2 years on average
10 percent of the deposit is paid at the time of contract signing
The remaining 90 percent of the deposit is paid when you move in
Tenants are responsible for maintenance.
Rental Type 2: Wuelsea (Monthly
There are 2 kinds of Wolse systems:
10 to 20 times the amount of the monthly payment
is deposited with the owner for the term of
the lease. You also pay for the house rental
monthly fee to the owner. The deposit is returned
to the tenant upon termination of the lease.
This requires advance payment of the monthly
rent at a set date every month for the entire
lease term. No deposit is required. This system
is popular among foreigners in Itaewon, Hannam-dong
Rental Type 3: Boarding House
This system is suitable for single individuals or students from foreign countries. Rent is paid monthly to
the owner, and a contract is not required. In these
settings, a landlord usually provides a room and
two meals daily for the tenant.
Administrative district offices
("gu" or "dong" offices) of Seoul City offer information on leasing regulations. Click for the contact information of those offices. If you need language assistance in English, call the Seoul Help Center for Foreigners at (82)2-731-6800~2.