SEJONG, Nov. 17 (Korea Bizwire) – The home ownership rate in South Korea came to 55.5 percent in 2016, data showed Friday.
The annual data released by Statistics Korea said 10.7 million households out of 19.36 million across the country owned homes in 2016.
Statistics Korea said 26.9 percent of 10.07 million households owned two or more homes last year, up 1.5 percentage points.
The average price of houses came to 227 million won (US$207,000) and the average area of a dwelling is 86.3 square meter.
The data also showed that the total number of houses across the country stood at 16.69 million units. Among them, apartments took the lion’s share with 10 million.
The latest data is a reminder that apartments are the most favored type of dwelling by South Koreans in a densely populated country.
Statistics Korea said 56.4 percent of those homeowners are men and the rest are women in 2016. The rate of female homeowners rose steadily for four years in a row since logging 41.4 percent in 2012.
It said 25.8 percent of individual homeowners were in their 50s, followed by those in their 40s with 24.7 percent and those in their 60s with 17.9 percent and those in their 30s with 13.8 percent.