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, [...]
SEJONG, Feb. 14 (Korea Bizwire) – South Korea’s home transactions dropped more than 6 percent from a year earlier last month, government data showed Tuesday, as investors stayed cautious amid growing uncertainties at home and abroad. The number of home transactions came to 58,539 in January, down 6.1 percent from the same month in 2016, [...]
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 [...]
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) [...]
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, [...]
SEOUL, July 4 (Korea Bizwire) – The average home price in Seoul has surpassed 500 million won (US$434,103) last month, with analysts expecting more price jumps within this year to reach a new high, a market study by KB Kookmin Bank showed Monday. The average home price in the capital city hit 501.98 million won [...]
GEOJE, South Korea, June 23 (Korea Bizwire) – The prolonged struggles of Korea’s shipbuilding industry are affecting the housing market in Geoje, a city in South Gyeongsang Province. Geoje is made up of a number of islands just off the coast of Busan, and it is also the main hub for the two major shipbuilding [...]
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 [...]
WASHINGTON, July 7, 2014 (Korea Bizwire)–Consumer confidence in the housing market has trended upward significantly during the recovery but continues to be less than needed to return to “normal” housing levels, according to results from Fannie Mae’s June 2014 National Housing Survey. On average, consumers’ 12-month home price change expectation remained in positive territory in [...]