Sejong City is the newest and smallest of Seoul’s metropolitan areas. It is a major center for the manufacturing industry and has an excellent transportation system. It is also a great place to live, with many parks and attractions nearby. There are several luxury real estate agencies in Sejong that specialize in selling and renting luxury homes. These agents have years of experience helping clients buy and sell property.URL :https://sejongrealtor.com/
When President Moon Jae-in announced the new blueprint for Sejong City on Monday, realtors began receiving a flood of inquiries from prospective buyers. Despite the rise in inquiries, however, the market remains sluggish. The previous government designated districts where apartment prices had risen significantly as speculative and put in place restrictions on financing and sales, which caused a glut of empty apartments to form.
The Role of a Realtor in Sejong’s Competitive Housing Market
The government introduced a special housing supply program for government workers to help them buy apartments in Sejong, but the move wasn’t enough to lure many of them to the city. The program was only applied to ministries that relocated to the area, but younger employees who joined these ministries recently are not eligible for the special program and have to look for rental apartments in a city where housing prices have skyrocketed.
Apartments in Sejong jumped 42 percent last year, the highest increase nationwide, but prices have since fallen because of the government’s reversal of its plans for the city. As a result, the number of vacant apartments has swelled to over 15,000, almost triple what it was in 2014.