Apartment Prices Rise Fastest in 2 Decades This Year

  • By Lee Mi-ji

    December 29, 2021 13:47

    Apartment prices in Korea have risen more than 20 percent this year, the fastest in 19 years, until they began to taper off towards the end. The average price of an apartment has jumped more than W100 million (US$1=W1,188).

    According to KB Kookmin Bank on Tuesday, prices of apartments across the country increased 20.18 percent this year, the fastest since 2002's 22.78 percent.

    /Newsis

    They soared especially in the capital region at 25.42 percent and at an all-time high in Gyeonggi Province and Incheon at 29.33 percent and 32.93. Prices in Seoul proper increased 16.4 percent, also the fastest since 2006.

    That brought the average apartment price throughout the country to W553.22 million in December, up W103.05 million from a year earlier.

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