The rise in prices for apartments and houses in South Korea has accelerated. The price index rose by 0.15% month-on-month in July.
In Seoul, prices rose by 0.76% in a month, which is the sharpest increase since December 2019. The reason is the high investment demand for facilities in areas where reconstruction is underway or planned. Demand has led to an increase in the number of transactions at record high prices.
The government has announced plans to build more than 400,000 new apartments in the next six years, which will be a price deterrent.
Source: Investing
