Real estate trivia

60 Real estate trivia questions, no sign-in. Review your misses in the LoreUp app.

• What is the collective term for buildings such as flats and low-rise blocks where several households live independently under one roof?Real estate
• Which project clears a whole district — old houses, narrow alleys and even the water mains — and builds it anew?Real estate
• Which product does a tenant take out in advance so that an agency repays the deposit if the landlord cannot?Real estate
• What is the step that lets buyers of a new flat check the workmanship before they move in?Real estate
• Which building is widely lived in but classed as a business facility under Korea's building code?Real estate
• What is the share of the sale price that a jeonse deposit accounts for called?Real estate
• Which lease arrangement lowers the jeonse deposit and adds a payment every month on top?Real estate
• What do you call the price an owner puts on a home they want to sell?Real estate
• What is the space inside your own front door, used by your household alone, called?Real estate
• What is the monthly charge that shares out cleaning, security and lift upkeep in an apartment block?Real estate
• In Korea the brokerage fee is a flat amount, the same everywhere no matter what the property sells for.Real estate
• Under jeonse, the deposit left with the landlord comes back when the lease ends.Real estate
• Korea's official transaction-price system lists the prices owners are asking for their homes.Real estate
• Supply area is the exclusive-use area plus shared residential space such as corridors and stairs.Real estate
• The higher the deposit runs against the sale price, the harder it becomes to get the whole deposit back once prices fall.Real estate
• Unlike flats, officetels leave corridors and stairs out of the advertised area, so the figure quoted is the space you actually use.Real estate
• Every household in an apartment block pays exactly the same maintenance charge, whatever the floor area.Real estate
• The pyeong, the unit Koreans commonly use for floor area, is about one square metre.Real estate
• Buying a property is not renting it — ownership itself changes hands.Real estate
• When you buy a newly built flat off plan in Korea, you usually pay a down payment first and then interim payments and a final balance.Real estate
• DSR is worked out from the mortgage loan alone and leaves other borrowing out of the picture.Mortgage regulation
• A mortgage loan in Korea is borrowing on credit standing alone, with no security pledged.Mortgage regulation
• Paying a large amount into a Korean housing subscription savings account makes you first priority, whatever the housing type or your eligibility.Housing subscription
• Which security right does a Korean bank register on the property register when it makes a mortgage loan?Mortgage regulation
• Which amount does DTI, the debt-to-income ratio, compare against annual income?Mortgage regulation
• A home is worth 600 million won and an LTV of 50 percent applies. Going by collateral value alone, what is the largest loan?Mortgage regulation
• Which index, reflecting the cost banks bear to raise funds, is used as the base for variable rate mortgage loans in Korea?Mortgage regulation
• Which designation, made when prices surge, tightens borrowing limits in the area concerned in Korea?Mortgage regulation
• What is the main aim of applying DSR limits borrower by borrower?Mortgage regulation
• What do we call a loan taken by pledging a home as security?Mortgage regulation
• What does LTV, the loan-to-value ratio, take as its basis?Mortgage regulation
• Which kind of loan has an interest rate that moves up and down with market rates?Mortgage regulation
• What do DTI and DSR both take as their basis?Mortgage regulation
• Taking a loan at a variable rate can mean a heavier interest burden when market rates rise.Mortgage regulation
• Korea's mortgage lending rules exist to cut the interest you pay the more you borrow.Mortgage regulation
• Once an area in Korea is designated a speculative overheating district or an adjustment target area, its LTV limit can be pushed lower.Mortgage regulation
• Stretching a loan over a longer term cuts the principal and interest repaid each year, which lowers the DSR figure.Mortgage regulation
• In Korea the LTV limit is worked out from the market price alone, ignoring any prior claims already registered against the home.Mortgage regulation
• COFIX is an index reflecting what it costs banks to raise funds, and it serves as the base for variable rate mortgage loans in Korea.Mortgage regulation
• DSR measures a borrower's ability to repay against their income.Mortgage regulation
• LTV, the loan-to-value ratio used in Korea, sets the borrowing limit from the borrower's annual income alone.Mortgage regulation
• In a Korean housing subscription, which method picks winners at random from among applicants who meet the rules?Housing subscription
• Which document should you check first for the application period and the eligibility rules of a Korean housing subscription?Housing subscription
• In the Korean housing subscription system, what is the word for the state of owning no home?Housing subscription
• Which account is the right one to use for a housing subscription in Korea?Housing subscription
• After winning a Korean housing subscription, what normally comes next before you actually receive the home?Housing subscription
• Which supply route do ordinary Korean applicants use when they fall outside any policy target group?Housing subscription
• What should you check with particular care when considering a special supply application in Korea?Housing subscription
• Which of these is NOT a factor in the points system for the general supply of private housing in Korea?Housing subscription
• Which source is used most directly to judge eligibility for a Korean housing subscription?Housing subscription
• Some special supply routes in Korea include income or asset limits in their eligibility rules.Housing subscription
• What is the main purpose of a housing subscription in Korea?Housing subscription
• In Korea, the housing subscription system is what you apply through when buying or selling an existing home that people already live in.Housing subscription
• In Korea the account normally used for a housing subscription is an ordinary deposit account rather than a housing subscription savings account.Housing subscription
• Filing a housing subscription application in Korea immediately concludes a purchase contract, whether or not you are selected.Housing subscription
• In the Korean housing subscription system, a non-homeowner generally means someone whose household owns no home.Housing subscription
• Before applying for a housing subscription in Korea, it matters to read the occupant recruitment notice.Housing subscription
• First priority in a Korean housing subscription can differ by housing type and region, so the occupant recruitment notice has to be checked.Housing subscription
• Special supply is a separate allocation route in Korea for applicants who meet set conditions, such as newlyweds and families with several children.Housing subscription
• In the general supply of private housing in Korea, the points system scores applicants on age and level of education alone.Housing subscription