Housing

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※ Real estate at a glance
     Incheon city map portal website : imap.incheon.go.kr
     As a portal site related to real estate which is operated by Incheon city, there are lots of information about sale or
     rent of house or building or land.

※ Quick and easy calculation for real estate fee
   『Incheon city hall website (www.incheon.go.kr) → Menu → Regional development → Land information →
      Auto calculation of real estate fee』

 

Type of housing


Housing is classified into single-family housing and apartment housing. Classification is determined during ownership
registration.

 
■ Apartment (Mansion)

 • Multiplex housing with more than 5 floors
 • There are convenient facilities like markets, shopping center and
    a public parking lot
■ Officetel

 • Mixed form of office and apartment
 • There is a public parking lot
 ※ Officetel is a mixed form of office and apartments. One-room,
     2-room, 3-room, hotel type room and apartment type room
     depending on the numbers and style of room.
■ Single-family House

 • Built on private ground. (Sole ownership of house by one person)
■ Villa (Multiplex housing)

 • Western style mansion, low-rise building with less than 5 floors
 • Smaller than most apartment estates
 

Purchasing a House


■  Related laws
 • In Korea, the business practice in real estate dealing is to deal both land and building together.
 • Applying laws differ according to the visa status and the purpose of purchasing.

■ Purchasing a house for residence
 • Choose real estate agent very carefully, going over their experience and credibility.
 • The agent will take care of all steps such as ownership transferring by proxy.
 • Can write in English contract.
 • You need to check the register book before making a contract. (Local registry office-Alien registration card and
    passport are required)
 

Renting a House


■ Leasing house on a deposit basis (Deposit system)
 • 1~2 years of lease contract, pay large deposit.
 • After contract expires, the entire deposit will be fully returned.
 • When making a contract, tenant need to pay first 10% down payment of deposit.
 • Tenant should keep the house in same condition as when resident frist moved in.

■ Monthly rent
 • 1~2 years contract, tenant should pay set (smaller than lease) deposit and monthly rental fee.
 • Deposit is 10 or 20 times higher than monthly rental fee.
 • When making a contract, tenant should pay 10% down payment of deposit.
 • When moving in, tenant should pay the balance and rental feel for the 1st month.
 • The deposit is fully returned after the contract expires. (Only if tenant has paid monthly rental fees without late payments)

■ Real estate agencies that support foreign languages in Incheon
 
Name of Real estate Address Telephone Available
Language
Songdo The Sharp Real Estate 107, Haedoji-ro, Yeonsu-gu, (Songdo-dong) (032)835-7777 English
Songdo Well County Jun Real Estate 60 Incheon Tower-daero, Yeonsu-gu,
(Songdo-dong)
(032)858-6200 English
Songdo Jeil Real Estate 168, Haedoji-ro, Yeonsu-gu, (Songdo-dong) (032)851-6688 English
Ssangyong Real Estate 163, Bupyeong-daero, Bupyeong-gu,
(Bupyeong-dong )
(032)528-4800 English,
Chinese
Park Real Estate 6, Sinsong-ro 118beon-gil, Yeonsu-gu,
(Songdo-dong)
(032)858-5555 English, Japanese
STAR certified realtor office G-78, The # First World, 107, Haedoji-ro, Yeonsu-gu, Incheon (032)858-7000 English
 
Tip for move!
When checking contract, bear in mind the following
① In order to avoid trouble, you must confirm deposit money, payment options of rent, real estate fee, the date of move
    and the contract period.
② After the agreement of the contract condition is done between a landlord and a tenant, both a landlord and a tenant
    should make a contract and keep a copy each.
③ The cost for moving must be prepared in advanced. (Expense of moving and other cost for moving)
④ After move, within 14 days the report of residency change should be done to gu office public service center or
    immigration office.
    Required documents: Passport, certificate of alien registration, rental contract
⑤ Registration office should be visited and received a definite date on the contract.
    Required documents: Certificate of alien registration which is changed address, rental agreement.
⑥ Reading a certified copy of the register, related information should be checked.
⑦ It is safe that the deposit of the down payment, middle payment, balance should be transferred to landlord's account
    who makes the contract.

※ What is a definite date?
  - It is a proved date that there is a rental contract.
  - After affixing a seal of institute which has a public confidence to a rental contract.
     the number on definite date sheet must be written on the contract.
  - It can be public documents that is able to be returned deposit money by preferential payment right

※ Why is it important to receive a inconvertible date?
  - Rental relation will bed once the rental expected house is sold by auction or disposition for failure to pay.
  - In this case the inconvertible date becomes a mandatory requirement to get a rent deposit and a deposit.



 
※ Source : Guidebook for foreigners, daily living information in Incheon




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