SEOUL, Sept. 4 (Korea Bizwire) – A new study has claimed housing prices in Seoul are more expensive than London and Los Angeles, considering the average household incomes in each city. The study released by the Bank of Korea on Sunday shows the average housing price is over 10 times higher than the disposable annual income [...]
SEOUL, Aug. 18 (Korea Bizwire) – South Korean construction companies’ domestic orders rose nearly 15 percent on-year in the first half of the year on a robust housing market and increased fiscal spending, a trade group said Friday. According to the Construction Association of Korea, local builders clinched orders worth a combined 79.3 trillion won [...]
SEOUL, Aug. 3 (Korea Bizwire) – South Korea’s stricter lending rules will likely affect about 400,000 potential mortgage borrowers in “speculative districts” in Seoul and the administrative capital of Sejong in the second half of the year, officials said Thursday. In its latest bid to rein in the overheating housing market, the government Wednesday designated [...]
SEOUL, Jul. 7 (Korea Bizwire) — As tall apartment buildings are proving popular in the South Korean housing market despite the country’s sluggish economy, an increasing number of home buyers are eyeing the residential skyscrapers around the country, which are widely seen as symbols of high social status and wealth, as well as landmarks in the [...]
SEJONG, May 29 (Korea Bizwire) – New home permits in South Korea plunged nearly 30 percent in April from a year earlier, the government said Monday, amid its move to limit housing sales as a way of curing household debt and rising interest rates. Construction permits issued for new homes came to 43,568 last month, [...]