Korean Home-Price Rise Still Average on Global Scale

  • Arirang News

    September 23, 2021 08:29

    Home prices have risen at such a rate the world over that even Korea's explosive growth still looks about average.

    A survey of 55 countries shows the increase in Korea in the second quarter of this year ranked only 31st in the world.

    According to the U.K.'s Global House Price Index, home prices in Korea soared 6.8 percent on-year, driven up by huge amounts of liquidity in the market, low interest rates and a shortage of housing stock.

    The average increase globally was 9.2 percent, and the worst country was Turkey with a staggering 29 percent, due in large part to its unstable currency, the lira.

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