S. Koreans' happiness rising slowly but surely: presidential panel
No. of depression patients exceeds 1m in 2022
Seoul subway fare to rise 12% beginning Saturday
Races tighten in Seoul as parties battle for Assembly control
Korean Air to submit new merger plan to ease antitrust concerns
US calls on China to encourage N. Korea's return to diplomacy
US House votes to remove Speaker Kevin McCarthy
6-year-old Uzbek girl found dead in Daegu
22 Chinese apprehended after illegal entry attempt
Hyundai Ioniq 7 may start production in July next year
[Monitor] 6.8 years needed to own home in KoreaBy Lee Joo-hee
Published : May 9, 2018 - 16:20
It takes an average of 6.8 years of savings to own one’s first home in South Korea, as of last year, slightly longer than 6.7 years tallied in 2016, according to analyses on housing in the country conducted by the Ministry of Land, Infrastructure and Transport.
The average number of years residing in one place came to eight years, also up from 7.7 years in 2016. While homeowners lived in their homes for an average of 11.1 years, those renting the place stayed for an average of 3.4 years.
The proportion of households that stayed in the same home for less than two years took up 35.9 percent.
Their reasons for moving included purchasing their own home (25.1 percent), moving to a better place (22.2 percent), high rent (10.7 percent), the end of a contract (10.5 percent) and eviction (2.7 percent).
Most, or 82.8 percent of those surveyed, believed they “must own their own home.” (firstname.lastname@example.org)
Korea to begin experiment with central bank digital currency
Defense Ministry warns NK regime over nuclear buildup
PM orders measures to prevent public opinion manipulation on web portals