(MENAFN) South Korea's housing market revealed some signs of a slump in the first three months of this year due to the government's move to tighten rules on household lending.
The average price of homes hiked 2.9 percent on-year in the first quarter period, decelerating from a 3.5 percent on-year increase throughout the previous quarter.
Moreover, home transactions deteriorated 26.1 percent on-year to 199,483 cases over the Jan-March timeframe, down below the five-year average of 206,000 cases.
Against this backdrop, total household debt hit a record high of 1,207tn won as of end-2015, while home sales touched an all-time high of 1.19mn last year, rising 20pct from 2014's 1mn.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.