Seoul vs. Melbourne: The Housing & Cost of Living Differences You Need to Know
When moving between countries, one of the biggest adjustments is housing —where you live, how much it costs, and the way the market operates. Coming from Korea to Australia, I noticed significant differences in not just the types of homes people prefer but also how they rent or own them . Let’s dive into the key contrasts between housing and the cost of living in Seoul and Melbourne (or Australia in general). 1. Housing Types: Apartment vs. House In Korea , the vast majority of people live in high-rise apartments due to limited land space, especially in major cities like Seoul. Standalone houses exist but are far less common. In contrast, Australians still largely prefer detached houses with gardens , though apartment living is growing in major cities. 2. Renting & Ownership: Different Systems Korea has three main ways to secure a home: Owned (자가) – Buying a home outright. Jeonse (전세) – A unique system where tenants pay a large lump sum deposit (often 50-80% of the proper...