South Korea's Housing Transactions Fall 35%
South Korea witnessed a sharp drop in housing transactions in January 2021. According to data by the Ministry of Land, Infrastructure and Transport on 21st February, the number of the country's housing transactions came to 90-thousand-679 in January, down 35-point-four percent from a month earlier. By region, housing deals in the greater metro area fell 25-point-four percent on-month to 47-thousand-132, while those in other parts of the nation plunged 43-point-five percent. Apartment transactions slipped 39-point-three percent, while the transaction of other types of homes fell 23-point-two percent on-month. Transactions of "jeonse" and monthly rental homes also dropped by two percent, each, on-month in January. Jeonse is a rental method unique to Korea in which tenants pay a lump-sum deposit to the building owners rather than monthly rent. Industry experts said people appeared to have taken a wait-and-see approach last month ahead of the government's property measures unveiled early this month.
Tags : INTERNATIONAL Transactions South Korea's Housing Fall 35%