housing market Archives | Be Korea-savvy
Civic Action Coalition Calls for Higher Tax Rates for Property Owners

Civic Action Coalition Calls for Higher Tax Rates for Property Owners

SEOUL, Oct. 10 (Korea Bizwire) —Various civic groups that claim the problem of land speculation in Korea cannot be overcome without increasing property holding tax have come together to launch a civic action coalition calling for stronger measures. Civic groups such as Citizens’ Coalition for Economic Justice and Mibyun’s Committee on People’s Livelihood & Economy [...]

ABS Issuance Dips 27 Pct in 2016 on Weak Property Market

ABS Issuance Dips 27 Pct in 2016 on Weak Property Market

SEOUL, March 7 (Korea Bizwire) – The issuance of asset-backed securities (ABS) in South Korea tumbled nearly 27 percent in 2016 from a year earlier as the local property market remained sluggish, data showed Tuesday.  The amount of ABS issues totaled 60.7 trillion won (US$52.6 billion) last year, down 26.8 percent from the previous year, [...]

Homebuying in Seoul for Youngsters Equivalent to 38 Years of Full Savings

Homebuying in Seoul for Youngsters Equivalent to 38 Years of Full Savings

SEOUL, Nov. 28 (Korea Bizwire) – It would take more than 38 years for the young generation of today to save enough money be able to buy an apartment in the capital, if they save all of their disposable income, statistics showed Monday.  The average monthly disposable income for people 39 years old or under [...]

Gov’t to Curb Household Debts by Shrinking New House Supplies

Gov’t to Curb Household Debts by Shrinking New House Supplies

SEOUL, Aug. 25 (Korea Bizwire) – South Korea will control the supply of new apartments in a bid to curb demand for mortgage loans, the main culprit for soaring household debt in Asia’s fourth-largest economy, government officials announced Thursday.  Household credit jumped 11.1 percent on-year to an all-time high of 1,257.3 trillion won (US$1,123.5 billion) [...]

Population Movements Fall in June on Mortgage Regulations

Population Movements Fall in June on Mortgage Regulations

SEJONG, July 26 (Korea Bizwire) – The number of South Koreans changing their residences dropped nearly 13 percent on-year in June as the housing market showed signs of slowing, the state statistics agency said Tuesday. A total of 567,000 South Koreans changed their residences in June, down 83,000, or 12.8 percent, from a year earlier, [...]

Housing Expenses among Biggest Burdens for Single-Person Households

Housing Expenses among Biggest Burdens for Single-Person Households

SEOUL, May 13 (Korea Bizwire) – A recent study has revealed that housing expenses, among other basic living costs, are the biggest financial burden for single-person households.  The Korea Consumer Agency conducted a study on 1,000 single-person household consumers, in which 37.8 percent of participants pointed to housing expenses as their biggest financial burden.  When [...]