Two five-story studio apartment buildings were completed about six months ago. Blocking my view of downtown Seoul.
The one room studios are very small. Bathroom, kitchenette, enough space for a bed, desk.
Advertised as slightly under $2,000 a month with about a $20,000 deposit. ALL of the studio apartments are still empty.
Tons of commercial buildings with 'for rent' signs, but the rent prices have not come down at all.
Some have been vacant for a couple of years.
These Korean landlords are stubborn. Properties have been vacant for years, but they won't lower rent.
Probably waiting to see if business picks up after the coronavirus pandemic weakens.
Let's see what happens after two years.
One vacancy was taken up by a cosmetic surgery clinic. Logical, they can certainly afford the rent.
