More Pessimistic Outlook for Property Market This Year

Half of all property experts have a pessimistic outlook on the future of the property market, according to a survey out on Sunday.

The Korea Development Institute asked 100 real estate market experts last month what they think the market will be like in a year's time.

Some 51 percent said it will get worse, while only 4 percent forecast it will get better. The rest 45 percent expected it to remain unchanged.

The KDI carries out a similar survey every quarter.

The survey for the fourth quarter of last year showed a gloomier outlook than the previous quarter, when 44 percent said it would get worse.

Kim Hyeon-wook, a director at KDI, said, "The government will continue to come up with measures to rein in the housing market and another increase in the key interest rate is also expected. These are likely to affect the property market unfavorably."