SINGAPORE - Located a stone's throw from a subway station in central Seoul, the new apartment complex Lumini boasts stylish communal spaces, trendy retail outlets and a view of the iconic Seoul Tower.
Seoul mayor Oh Se-hoon, who won a by-election race last year as an opposition candidate, acknowledged that many young people are unable to buy a home due to high property prices and unaffordable bank loans. The city is also focused on improving the image and quality of public housing, said Mr Oh, who was re-elected in June during municipal elections.
For a unit smaller than 39 sq m, the monthly rent for a two-year contract is 255,396 won, with a deposit of about 59 million won paid by the city government.
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