|
Archived Articles
Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
|
 |
South Korea: English is the main assetSouth Korea is among few countries that have proven in less than 2 generations almost all modernization theory prescriptions. From a poor country it has become one of the richest. From the late 1980s it has also become an important point of attraction for many whose native language is English. This tradition still lives on. With real estate market still not fully recovered after 1998 financial crisis and inclement summer and winter weather, South Korea remains a country where people which native language happens to be English can start new lives. The capitalist part of Korean peninsula is considered among the happiest cases of post-WWI modernization. In 1960 it was still among the poorest countries in the globe, today it's among the richest. 38 years of interrupted economic growth till the financial crisis of 1998 has been replaced by years of hectic ups and downs that continue until now. The real estate market that went through unprecedented boom still can't recover fully from the burst in 1998. After losing almost 30% of their values the properties have regained some 10-15% of their pervious prices helped by the strong local currency. The quickest recovery has occurred in the capital Seoul. In order to boost again the investment activity the government beginning in 2003 has decided to liberalize gradually the domestic markets for foreigners. Some measures have already taken effect; some other will take effect by 2010-2011. Another major obstacle for many would-be investors is the Korean weather, its 4 distinct seasons including cold winters and stormy summers. No matter how attractive the property prices and the regulations may become this won't change the Mother Nature background. The small investors that look for paradise-like destinations will always look at other places located south of Korean peninsula. Despite these obstacles South Korea has one particular asset that will continue to exercise strong attraction for English-speaking young and middle-aged foreigners. The country is one among the top destinations for English teaching people and also for those which main asset as businesspersons is their native language. Why the English has become so appealing for the whole regions of Far East Asia is a mystery. Perhaps it has something to do with the fact that it appears as a neutral communication tool for nations that have strong historic resentments toward each other but, on the other hand, are compelled to communicate in order to increase their exports. Living on a tough budget, some English teachers report that they can meet the ends with no more than $1,000 a month. On the other hand, the average income they may expect is hardly more than $2,000 a month. The luxurious properties starting at $3,000 a month for rentals and $400-500,000 for sales are simply beyond their reach without some additional incomes. South Korea has a particular system of regulations regarding the landlord-tenant relations. Now knowing some important details may entail major loses for the tenants. Foreigners of Korean descent even born outside South Korea may still be obliged to serve 2-year military service if they haven't renounced their Korean nationality before they turn 17 and have entered the country after that date.
Country profile: --------------------
See also the directory of companies providing real estate services in, and general real estate information of South Korea.
|
See also:
