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한상넷 로고한상넷

전체검색영역
S. Korea house price forecast to rise slightly in second half
Collected
2016.07.21
Distributed
2016.07.22
Source
Go Direct
South Korea’s median house price will increase slightly in the second half, compared with the first half, driven by a rise in Seoul and its surrounding areas, according to Korea Appraisal Board’s latest forecast.

“House sale prices across the country are forecast to increase by 0.3 percent in the second half and jeonse rental deposits will go up by 0.5 percent,” said Chae Mi-ok, an official of Korea Appraisal Board.

Demand for houses among end users will continue as the low interest rate and expansionary monetary policy prompt people to borrow money from banks for home purchase. House rental deposits will continue to rise in some regions where supply is outstripped by demand, but overall there will be no big increase due to rising supply of new houses and housing market stability, Chae explained.

Meanwhile, house sale prices will be more polarized between metro and non-metro areas. Demand of buying and selling houses in Seoul and its surrounding areas will remain strong due to the low interest rate, but such demand in other areas will be dented by the supply growth of new houses and stricter debt controls.

By Moon Ji-woong

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]