Home Investments

View of Apartments in Jamsil-Dong looking North to Han River

Unlike their European counterparts, the majority of the apatu are not publicly owned housing stock. Neither are they considered to be housing for low income families, or hold the same connotations as their post war, high rise equivalents found in England and France. When the first apatu complex was built in 1958, they were a highly prized symbol of economic and social progress.

Today, they indicate that a family has settled down into a particular socio-economic class. Initially, this was middle class. A key element of attaining this status was that of home ownership, actively encouraged by government policy. Initially, price ceilings below market value were introduced to give people and incentive to buy their apartments (coupled with tax subsidies given to construction companies). This allowed a solvent sector of the population to consolidate their wealth and immediately drove up the value of their properties, contributing to the reality of an apatu as a speculative asset.

Although 56% of all households in Korea are owner occupied (globalpropertyguide.com) the other rental systems favour people who can put down large sums of money. The Jeongsei rental system comprises about 30% of all households which means ‘key money’.The tenant gives the landlord a lump sum, amounting to 25-70% of the value of the property. No monthly rents are paid, and at the end of the tenancy agreement, usually two years, the landlord returns the key money without interest and the tenant must move out. Other variations of this system exist where different amounts of money are paid and rent adjusted accordingly but they all reinforce the apatu as a tool of capital investment. Additionally, the short term rental term encourages a culture of swift upgrading and exchange of both a home and a neighborhood.

Statistical yearbook of Anyang district shows that out of 191,000 households, 108,802 are owner occupied and 55,572 have paid a lump sum. Only 1,400 pay rent without a deposit.

What is unusual about this highly developed property market is that despite the extortionate value of these residences their utilitarian external appearance has not changed considerably over the last fifty years.  Their value primarily depends on their size, and their location and proximity to key infrastructure such as schools and stations. Currently, a property in a desirable neighborhood south of the Han River can cost five times more than an equivalent apartment in Manhattan. (Kim Kwang Soo). What qualities of the apatu make them to continue to be such desirable housing types and why has there not been a demand for other kinds of home or living spaces? Is this lack of heterogeneity driven by the the construction sector, or does it reflect uniquely Korean attitudes about how you assess the ‘value’ of a house and a dwelling?

Moving In

Given that 53% of housing stock in Seoul comprises of Apatu type complexes or megaplexes (Valerie Geleuze 2007) It is not surprising that the Koreans have developed an efficient way of moving into multi- storey appartments. I'm not quite sure what to call this vehicle/inclined lift/ contraption, I have never seen one before but I will definitely be looking out for them when I get to Seoul!

Watch moving_in.avi in Technology  |  View More Free Videos Online at Veoh.com

Neighbourhood?

Might be interesting to start with a poignant quote from radical urban philosopher and activist Jane Jacobs:

"Neighborhood is a word that has come to sound like a Valentine. As a sentimental concept, 'neighborhood' is harmful to city planning. It leads to attempts at warping city life into imitations of town or suburban life. Sentimentality plays with sweet intentions in place of good sense."


— Jane Jacobs (The Death and Life of Great American Cities) 

Life Cycle of the A.p.t

These photos found on a photoblog show an apatu complex that is slowly falling to pieces. The first generation of apatu are now showing signs of degradation, and a lack of maintenance.  Does this indicate that their construction was designed to meet an immediate need and not the long term longevity of the neighborhood? Many of these are to be demolished and reconstructed, without attempts to salvage/retrofit them. The amount of servicing and air conditioning ducts that adorn the buildings, almost like ornamentation, reflect the amount of resources needed to sustain large populations living in high density.

servicing shafts

The scale of the individual is dwarfed in these complexes. When this architectural form is the dominant housing type, what kind of effect does this have on the community within - do they enjoy feeling part of the larger whole, or is this the monotony and scale oppressive? Naturally, this contrasts greatly with what I am used to in the UK where we have a penchant for individual family homes over communal living.

scale of the whole vs, the individual

This image shows the only signs of life - no people are shown but these small gardening projects show that some humanity is present. (This is perhaps relevant for you too Beni?) There may be a desire to personalise and soften such formal, oppressive spaces. Perhaps this indicates how public life functions elsewhere in the city, cropping up in the most unlikely of places.

Neighborhood gardening project?

All photos from http://blog.naver.com/youkizaki/20040073336