Seoul Sees Sharpest Rise in Apartment Prices in Korea

  • By Song Won-hyung

    June 09, 2017 12:38

    Apartment prices in Seoul grew at the fastest clip in the country in the first half of this year, surpassing even the booming southern port city of Busan.

    Until early May, Busan still had the highest growth in apartment prices, but Seoul apartment prices have grown at a faster pace since the election of President Moon Jae-in.

    According to property information service Real Estate 114 on Thursday, Seoul apartment prices had soared 2.04 percent as of June 2, compared to 1.89 percent in the first six months of last year.

    Lee Mi-yoon at Real Estate 114 said, "Expectations over the new administration's economic stimulus measures stoked investment demand for apartments, so prices are rising quickly."

    Busan apartment prices rose 1.66 percent over the same period.

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