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Home Prices Grow Twice Faster in Seoul This Year

Written: 2016-10-28 17:55:38Updated: 2016-10-28 18:49:36

Home Prices Grow Twice Faster in Seoul This Year

Home prices in Seoul are apparently growing much faster than in the rest of the country.

A new survey by Kookmin Bank says as of October, the cost of buying a home increased by a cumulative two-point-47 percent year-on-year. That's more than double the one percent nationwide average.

During the same period, home transaction prices grew one-point-79 percent in the wider capital region and zero-point-four percent in five other metropolitan cities such as Busan and Gwangju.

In particular, apartment prices in Seoul increased noticeably, rising three-point-four percent this year through October. This is more than three times the national average of one-point-09 percent.

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