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Prices of Korean Apartments on Upward Swing

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공표년도

창작년도

2009-03-17

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Korea's slow real estate market is starting to show signs of recovery.
According to the Ministry of Land‚ Transport and Maritime Affairs the number of apartments sold in the country during Feburary marked nearly 29-thousand‚ a 60-percent rise from the previous month.
The number of apartments sold in the capital Seoul‚ Gyeonggi Province and the city of Incheon nearly doubled‚ to 11-thousand.
1‚200 apartments were sold in three popular neighborhoods around the Gangnam district resulting in the highest number since December 2006 due to a price hike for small and medium-sized apartments.
A 77-square-meter apartment in Gangnam was sold at 920-million won‚ or around 650-thousand US dollars last month‚ an increase of 65 million won from January.
Also‚ apartments in the affluent area were selling at a higher price than the first month of this year‚ some by up to 100-million won more.
However‚ experts say it is too early to say apartment prices are back on track because the number of apartments sold is still 80 to 90 percent of its average of the past few years.
Kim Ji-young‚ Arirang News.
Reporter : jennie84@arirangtv.com

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