SEOUL, June 19 (Korea Bizwire) — The Bank of Korea has warned that continued efforts to stimulate construction investment through non-capital region housing projects may be exacerbating the nation’s widening housing market divide, rather than resolving it. In a report released Wednesday, the central bank argued that building new homes in low-demand regions outside the [...]
SEOUL, Sept. 26 (Korea Bizwire) – South Korea will supply 120,000 public homes in addition to the existing plan to deliver 2.7 million new homes by 2027 to offset the declining private-sector home supply amid higher lending rates, the land ministry said Tuesday. In August last year, the government announced the public home supply plan [...]
SEOUL, March 4 (Korea Bizwire) — With South Korea entering the age of 1 million “officetels” — multi-purpose buildings with residential and commercial units — it’s becoming more imperative to use them as a housing policy tool for single-person households, a report said Thursday. The Construction and Economy Research Institute of Korea (CERIK) said in [...]
SEOUL, Nov. 16 (Korea Bizwire) — The number of multiple home owners in South Korea grew by the smallest number in six years last year due largely to heavy taxation on such people, data showed Tuesday. The number of multiple home owners had reached 2.32 million as of Nov. 1, 2020, up from 2.28 million [...]
SEOUL, March 4 (Korea Bizwire) — The buying of properties and lands for investment purposes is common in South Korea, where home prices have been on a steady rise despite ups and downs over the past decades. Alleged speculative purchases of land lots by officials at a state-run housing developer could not come at a [...]
SEOUL, Feb. 4 (Korea Bizwire) — The South Korean government said Thursday it will ease building regulations and support redevelopment projects in urban areas to increase the number of new homes by up to 836,000 nationwide in the next four years. The latest housing policy focuses on increasing the home supply in the Seoul metropolitan [...]