SEOUL, Nov. 15 (Korea Bizwire) — More South Koreans are being subject to socioeconomic deprivation as the rising cost of housing is hurting expenditures in other sectors, a government think tank said Monday. The state-funded Korea Research Institute for Human Settlements estimated the cost of housing by studying the cost of purchasing a home for [...]
SEOUL, Dec. 21 (Korea Bizwire) — In contrast to the public perception that a hike in asset prices would likely to lead to an increase in consumption, household consumption actually declined despite the recent surge in housing prices in Seoul, a study showed Monday. A 1 percent hike in apartment prices led to a decline [...]
SEOUL, Dec. 3 (Korea Bizwire) — New home permits in South Korea surged more than 24 percent in the first 10 months of the year amid high housing prices, government data showed Friday. Construction permits issued for new homes came to 405,704 units in the January-October period, up 24.4 percent from a year ago, according [...]
SEOUL, Nov. 30 (Korea Bizwire) — More people are moving from Seoul to nearby provinces like Gyeonggi and other regions in the greater Seoul area as housing prices in Seoul continue to spike. Statistics Korea reported on November 29 that last year, a total of 402,000 residents left Seoul for other cities or provinces and [...]
SEOUL, July 5 (Korea Bizwire) — Prices of apartments set aside for public servants in the administrative capital of Sejong rose fivefold in the past four years, a civic group said Monday. The Citizens’ Coalition for Economic Justice announced the results of its study that has tracked the prices of apartment units owned by 25,852 [...]
SEOUL, June 6 (Korea Bizwire) — Apartment prices in Seoul and its adjacent areas grew more than 1 percent for the fifth straight month in May despite the government’s efforts to stabilize skyrocketing home prices, data showed Sunday. Housing prices in greater Seoul grew 1.21 percent in May from the previous month, compared with a [...]
SEOUL, March 3 (Korea Bizwire) — Apartment prices in Seoul have continued to rise under the Moon Jae-in government, except for four months, despite a string of measures to stabilize the market, a civic group survey showed Wednesday. Such a policy failure has sharply widened the gap in the values of assets owned by homeowners [...]
SEOUL, Dec. 2 (Korea Bizwire) — Buying a house is often a competitive, costly and stressful process, especially so in Seoul, South Korea’s epicenter of politics, business, culture and education. For decades, buying an apartment in a decent neighborhood in the capital city has not been easy for a typical family, but it has become [...]
SEJONG/SEOUL, July 10 (Korea Bizwire) — South Korea will raise property ownership tax rates for multiple home owners, the finance ministry said Friday, in the latest move to curb housing prices. The current 0.6 percent to 3.2 percent ownership tax on people who own three or more homes will be raised to 1.2 percent to [...]
SEOUL, July 8 (Korea Bizwire) — Politicians and high-rank government officials owning more than one house are coming under growing pressure to dispose of properties as the government is preparing steps to hike tax burdens for owners of multiple homes in efforts to curb soaring housing prices. Housing prices have continued to surge in many [...]