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Seoul Faces Serious Residential Segregation According to Housing Prices, Study Finds

SEJONG, Dec. 21 (Korea Bizwire) – A recent study has revealed a significant degree of residential segregation in Seoul, characterized by distinct divisions between high-priced and low-priced housing areas. The Korea Research Institute for Human Settlements released these findings in its report titled ‘Residential Segregation by Housing Prices and Policy Implications,’ which utilized publicly announced housing [...]

Rising Housing Prices Undermine Marriage and Childbirth: Study

SEOUL, July 29 (Korea Bizwire) — Increases in the price of housing have a negative impact on the rate of marriage and childbirth, a report showed Thursday. The Korea Institute of Public Finance conducted a survey on employees at public agencies, which showed that a 100 percent rise in housing prices resulted in 0.1 to 0.3 [...]

Dearth of Affordable Apartments for Median Income Households in Seoul as Housing Prices Spike

SEOUL, April 25 (Korea Bizwire) — The number of apartments that median income households can afford to buy in Seoul has declined sharply over the past five years, primarily due to a surge in housing prices. According to the data that Rep. Chung Woo-taik of the People Power Party received from the National Assembly Budget [...]

Sharp Rise in S. Korea’s Home Prices Poses Economic Risks: Report

SEOUL, Sept. 30 (Korea Bizwire) – South Korea’s soaring housing prices, like those in other Asian countries, can cause downside risks for the broader economy, a report by the Asian Development Bank (ADB) said Sunday. In the updated version of the Asian Development Outlook, the international development financial institution warned that elevated housing prices threaten [...]

Soaring Housing Prices a Conundrum for Homebuyers, Policymakers

SEOUL, Mar. 2 (Korea Bizwire) — Purchasing a home may be the largest-ever financial transaction for many ordinary citizens, such as Han Jung-min, a 40-something office worker who dreams of settling down in the posh district of Gangnam in southern Seoul. The problem facing such first-time homebuyers always boils down to timing — is it [...]

Seoul Residents Move out of Capital in Droves as Housing Costs Rise

SEJONG, Feb. 16 (Korea Bizwire) – Residents of Seoul moved out of the capital city last year in the largest number in 19 years, national statistics showed Thursday, apparently driven out by costly housing and lack of jobs. The yearly tally released by Statistics Korea showed 140,000 people moved out of Seoul, the highest number [...]

Research Shows Childbirth Falls When Housing Price Rises

SEOUL, Jan. 4 (Korea Bizwire) – A rise in home prices tended to lower the birthrate, a trend that existed regardless of whether the economy was good or bad, a report from a local institute said Wednesday. The Korea Institute of Child Care and Education followed the changes in home prices and their correlation to [...]

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 [...]

Seoul Home Prices Hit New High, with More Gains in Gangnam

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 [...]

Using Artificial Intelligence to Analyze Stocks, Exchange Rates, and Housing Prices

SEOUL, June 28 (Korea Bizwire) – A Korean research team has developed an artificial intelligence system that can analyze constantly-changing stocks, exchange rates, and housing prices. A team of scientists from the Ulsan National Institute of Science and Technology, led by professor Choi Jae-sik, developed a ‘Relational Automatic Statistician System’, which is an AI-based system [...]