Recent data showed that South Korea's home prices rose at the steepest pace in 14 years this year, while the prices of "jeonse" rental homes posted the largest growth in nine years.

According to data by KB Kookmin Bank on Sunday, the country's housing prices grew eight-point-35 percent in December from a year earlier.

This new figure amounts to the largest gain since 2006. During that period of the Roh Moo-hyun government, housing prices rose eleven-point-six percent.

The prices of jeonse homes across the nation increased six-point-54 percent on-year in December, the largest advance in nine years.

Jeonse is a rental method unique to Korea in which tenants pay a lump-sum deposit to the building owners rather than monthly rent.