Tag Archives: South Korea Property Market

S Korea home prices up again

Posted on 6 Oct 2009 | Comments Off on S Korea home prices up again

Apartment prices across South Korea rose for the 17th straight week, the longest gaining streak since July 2008, data from the country’s top lender showed yesterday.

Apartment prices rose by 0.1 per cent last week from the previous week, extending a rising trend that started in early June, according to data from Kookmin Bank. The data came amid growing expectations for a rate increase this year after the central bank warned several times that it would lift interest rates to calm the property market.

The Bank of Korea is scheduled to review rates on Friday.

Source : Business Times – 6 Oct 2009

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Housing market sizzles again

Posted on 25 Sep 2009 | Comments Off on Housing market sizzles again

It is hard to miss the upbeat mood in South Korea these days. The latest economic indicators coming out of Asia’s fourth-largest economy show that the country is edging out of the financial doghouse that the world was thrown into late last year.

One indicator that analysts have pointed to is the slowly but steadily rising housing prices. The appetite to buy property has returned on the back of record low borrowing costs.

Since April, housing prices have climbed for five consecutive months, according to market data by Kookmin Bank. Last month, prices rose another 0.3 per cent above the previous month.

Housing prices in Seoul, the economic heart of the country, have a bearing on prices nationwide, and they went up by 0.5 per cent. Transactions also picked up.

‘People are confident enough to buy houses because they sense they don’t need to hold on to cash any more,’ said Mr Lee Chung Yeol, a real estate agent in the Gangnam district. Continue reading →

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