South Korea's Finance Minister vows to take policy steps to stabilize rising house prices in Seoul and the wider capital area amid increasing volatility in the real estate market.
South KoreaHousing MarketReal EstateFinance MinisterPolicy MeasuresReal EstateJul 18, 2024
South Korea's housing market is experiencing a sharp rise in prices, particularly in Seoul and the wider capital area.
The government is taking policy steps to increase house supplies, speed up the restructuring of real estate project financing, and control the rise in household debt.
The main factor is attributed to speculative demand.
The Korea Real Estate Board is a government agency responsible for regulating the real estate market in South Korea.
The government's efforts to stabilize the housing market are expected to have a significant impact on the country's economy, as the real estate sector is a major contributor to GDP.
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