For Short-Term Stays: Travelers & Temporary Residents

If you're in Korea for a short period—whether as a tourist, student, or someone exploring the country—these are your main options:

1. Hotels & Guesthouses

Hotels are the easiest option but tend to be expensive, especially in peak seasons (spring and autumn). Guesthouses, on the other hand, are budget-friendly and offer dormitory-style beds or private rooms, often with shared common areas.

Websites like Agoda, Booking.com, and Naver Travel are good places to compare prices.

Guesthouses often have shared kitchens and social events, great for meeting people.

2. Airbnb & Short-Term Rentals

Airbnb operates widely in Korea, and many hosts offer monthly discounts for longer stays.

Short-term apartments or studios can range from KRW 500,000 to KRW 2,000,000 per month, depending on size and location.

Many Airbnb listings don’t require long contracts or deposits, but it's essential to read reviews carefully.

3. Goshiwons (고시원) & Goshitels

Goshiwons are TINY, budget-friendly rooms originally meant for students preparing for exams. They are great for travelers who don’t mind small spaces.

Monthly rent: KRW 350,000 to KRW 700,000 (includes utilities and sometimes free rice/kimchi!).

Mostly no deposit and only require monthly payment. They range from tiny windowless rooms to slightly larger spaces with a private bathroom.Some are now modern and marketed as goshitels (고시텔), which are slightly better than traditional goshiwons.

Websites like Goshipages, Gosiwon.com, or Naver Real Estate (네이버 부동산) can help find options.

** I recommend The Swim, near Sindang Station. Its very small but the Amenities are new and clean (woman only).

4. Sharehouses

Sharehouses are great if you want to live with others and split costs while still having your own private space.

Rent: KRW 400,000 - KRW 1,200,000 per month, including utilities.

Good for meeting people, but be prepared for the personality lottery—your housemates can be great or a nightmare.

Companies like Borderless House, Woozoo, and Haengbokshare specialize in foreigner-friendly sharehouses.

5. University Dormitories

If you’re studying in Korea, university dorms are a cheap and convenient option.

Rent: KRW 200,000 - KRW 800,000 per semester.

Most have curfews and guest restrictions, and some require a meal plan.

Apply early, as spots fill up fast!

For Long-Term Residents: Renting in Korea

If you're planning to stay for a year or more, you’ll need to navigate Korea’s unique rental systems and legal requirements. 

1. Rental Systems: Jeonse and Wolse 

Korea has two major rental systems:

Jeonse (전세): A lump-sum deposit system where you pay a huge amount (usually KRW 50M to KRW 500M+) upfront but don’t pay monthly rent. You usually get the deposit back at the end of the contract.

Wolse (월세): A system where you pay a deposit (KRW 3M - KRW 20M) and then pay monthly rent.

👉 If you don’t have a large deposit, look for low-deposit options (소액 보증금 월세).

2. Where to Find Rentals

Real estate agents (부동산): They help find apartments but charge a fee (~0.3% to 0.9% of the rent).

Craigslist Seoul: Good for short-term and foreigner-friendly leases.

Facebook Groups: "Seoul Housing", "Apartments in Korea", etc.

Naver 부동산 & Zigbang (직방), Dabang: Popular apps for searching apartments.

3. The Importance of Contracts

If you're signing a lease:

Always get a legal rental contract (임대차 계약서).

Ensure the landlord owns the property (ask for a 등기부등본 verification).

Contracts are required for your Alien Registration Card (ARC) application.

 

Final Tips 

Winter (December - February): The best time to find good deals, as many people leave Korea.

Always check if your rental includes maintenance fees (관리비).

Use a registered real estate agent.

Read reviews for goshiwons, sharehouses, and Airbnb.

Keep a copy of your lease contract for visa or ARC applications.

Check for mold.

Don't pay rent in cash without a receipt.

Don't rent places without checking.

Best Neighborhoods for Expats & Students

Depending on your lifestyle, budget, and needs, some areas in Korea are better suited for students and expats than others.

Seoul:

Hongdae (홍대) & Sinchon (신촌) – Youthful, artistic, and full of nightlife. Great for students and creatives. Higher prices but good Location and a lot of things to do. 

Itaewon (이태원) – The most international area, good for expats who prefer English-speaking communities. Cheaper than Hongdae but usually older houses.

Gangnam (강남) – More expensive but great for professionals and business-focused expats.

Sillim (신림) & Gwanak-gu (관악구) – Affordable, popular with students from Seoul National University. Tends to be looked at on as a more dangerous area but full of students and young people. 

 

Other Cities:

Incheon: Cheaper than Seoul but well-connected by subway. Songdo is a modern, clean area with many international residents.

Busan: Haeundae (beach life), Seomyeon (city center), Kyungsung (university area).

Daegu: Dongseong-ro (downtown), Suseong-gu (more high-end, quiet living).

Daejeon & Gwangju: More affordable, good for those who prefer a laid-back lifestyle.

Common Scams in the Korean Housing Market

1. Fake Listings & Nonexistent Apartments

Some realtors post fake listings with low prices to lure in potential renters.

Always visit the apartment in person before making any payments.

2. Key Money (Deposit) Scams

Some landlords take the deposit (전세금) and disappear, leaving tenants with legal trouble.

Ensure the landlord has legal ownership of the property by requesting official documents.

3. Contract Manipulation

Some contracts contain hidden clauses that unfairly favor landlords.

Always have a Korean-speaking friend, lawyer, or real estate agent review the contract.

4. "Ghost" Landlords

Some scammers pose as landlords and collect rent from multiple tenants for the same property.

Make sure the landlord's name on the contract matches official property documents.

5. Realtors Charging Excessive Fees

Realtor fees should follow government-set guidelines (typically 0.3% to 0.9% of the rent amount).

Be cautious if an agent demands excessive upfront fees.

 

Red Flags to Watch Out For

1. Cash-Only Transactions

If a landlord insists on cash-only payments, this could indicate fraud.

Always use bank transfers for proof of payment.

2. Rushed or Pressure Sales

If a landlord or realtor pressures you to sign a contract quickly, step back and review everything carefully.

3. No Registered Realtor or Contract

Ensure the realtor is registered (공인중개사) and that you receive an official rental contract.

4. Suspiciously Low Rent Prices

If an offer seems too good to be true, it probably is.

Compare prices with similar properties in the area.

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