Recent data from Danggeun Real Estate reveals that users who completed transactions spent an average of 2.4 months searching for homes. Before finalizing a deal, they visited an average of 3.8 properties in person.
The survey, released on June 1, was conducted among 971 users who completed transactions through Danggeun Real Estate between May 11 and May 17. The results highlight varying search durations based on contract types. Homebuyers looking to purchase took the longest, averaging 3.6 months, and visited about 4.3 properties before making a decision. In contrast, renters seeking monthly leases spent an average of 1.8 months and checked around 3.5 listings.
Those looking for jeonse (a type of lease in South Korea) took an average of 2.5 months to find suitable properties, visiting about 4.1 listings. This longer duration is likely due to the higher costs and longer commitment associated with jeonse agreements, prompting renters to compare multiple options.
When broken down by age group, individuals in their 30s dedicated the most time to their home search, averaging 2.7 months and visiting about 4.1 properties. Conversely, those in their 20s had the shortest search duration at an average of 1.4 months, likely influenced by a higher proportion of rental transactions in that demographic.
The primary reasons for moving included job changes and reducing commuting distances, accounting for 40.2% of responses. Other reasons included alleviating housing costs at 17.8%, moving to a better neighborhood at 13.1%, and changing transaction types at 10.5%. Additionally, 9.1% cited marriage or starting cohabitation, while 8.8% mentioned school districts for children as factors.
In the process of searching for homes and finalizing contracts, detailed property descriptions and photographs were identified as the most helpful information, with 62.0% of respondents highlighting their importance. Other valuable resources included actual resident reviews at 35.6%, verified listings at 34.6%, and broker reviews at 19.8%.
A representative from Danggeun Real Estate stated, "This survey confirms that the duration of home searches and the information needed vary by generation and contract type."
Danggeun Real Estate allows users to list properties or search for local listings through its app, facilitating communication for scheduling visits and finalizing contracts. While direct transactions can reduce costs, users are advised to verify property ownership and conduct basic checks, such as reviewing the property registration certificate, for safety.
* This article has been translated by AI.
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