Real Estate in Sejong

In hopes of encouraging government workers to relocate to Sejong, the central administrative 세종부동산 대표한미르공인중개사 city 120 kilometers south of Seoul, authorities introduced a special supply program that made construction companies allocate a portion of new apartments exclusively for government employees who wanted to move to Sejong. Government workers bought 26 percent of the 97,000 apartment units supplied over the past 10 years through the special program. But it wasn’t mandatory for government workers to actually live in the apartments they purchased. Instead, many kept their family and home in Seoul, commuting to Sejong, where they worked.

Eight years have passed since Sejong was designated a special self-governing city, but it is still under construction and lacks a critical urban infrastructure. Except for the government complex area, which resembles a small town, Sejong looks like typical countryside. Nevertheless, the city has attracted high ranking officials who are keen on buying Sejong property for its future potential and for its prestige.

Sejong Living: Choosing the Right Neighborhood for Your Real Estate Dreams

Finance Minister Hong Nam-ki, who designed rules aimed at protecting tenants and slowing deposit increases, is facing tough times in his search for a Sejong apartment after deposits rose by a third during the last three months. He is considering a two-bedroom flat in up-market Mapo in western Seoul, a move that has drawn flak from netizens.

Sejong’s idle roads, empty walkways, and desolate urban life have fueled public criticism that the city hasn’t lived up to its original proposed potential. It also raises questions about whether the initiative was truly needed to relieve the overcrowded capital and stabilize skyrocketing housing prices.

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