Key Things to Know Before Investing in Officetels

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Officetels, multi-purpose buildings that combine residential and commercial functions, are attracting significant attention for both investment and residential purposes. However, they differ from regular apartments in their characteristics, requiring a cautious approach. The biggest advantage of officetels is their relatively lax regulations. Unlike apartments, there are fewer restrictions on resale rights or subscription qualifications, and loan regulations are often relaxed. The abundance of small units makes entry low, and rental demand is stable when located near subway stations or business districts. Tax considerations also present unique challenges. Officetels are often not included in the housing count, allowing multiple homeowners to avoid excessive capital gains tax. However, if used for residential purposes, they may be considered residential, so consulting a tax professional is essential. The acquisition tax rate is 4.6% for business use and 1-3% for residential use, depending on the unit size. Investment considerations also include higher management fees than apartments, and the large number of small units means rentals are primarily monthly rather than jeonse (long-term deposits). Buildings age quickly, and the multiple uses within the same building can create an unstable living environment. Location selection is crucial. You should carefully consider factors such as accessibility to public transportation, the density of nearby workplaces, and amenities. It's safer to choose an area with proven rental demand rather than a newly built property. The gap between the sale price and actual transaction price should also be carefully considered. Office Site