January 12, 2021 11:25
Seoul is now the city with the third highest property prices in the world, ahead even of oligarch-infested London and topped only by Hong Kong and New York.
According to collaborative online database Numbeo, the price per square meter of an apartment in central Seoul stood at US$19,935.38, compared to Hong Kong's $32,229.95 and $23,395.49 in the Queen's district of New York.
Outside the city center, Seoul ranked seventh with $9,902.74.
Seoul has risen several notches in the international rankings since President Moon Jae-in took office four years ago on a promise to combat real-estate speculation.
The price of apartments in the capital has increased steeply since Moon became president, surging 89.7 percent since late 2016 and far outpacing the rates of growth in Hong Kong (35.5 percent), New York (27.3 percent) and Beijing (34.3 percent).
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