Average price of mid-sized apartments in Seoul exceeds 1.5 billion won The average price of mid-sized apartments in Seoul has exceeded 1.5 billion won ($977,000) for the first time, largely because buyers are focusing on homes priced at 1.5 billion won or less.

#Seoul’s mid-sized apartment prices have surpassed 1.5 billion won for the first time, with buyers concentrating on homes eligible for the highest #mortgage limits.

Lower-priced units are leading the surge. #SeoulHousing

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South Korea to tighten mortgage rules in Seoul, boost housing supply By Cynthia Kim SEOUL (Reuters) -South Korea tightened mortgage rules for Seoul on Sunday, unveiling plans to tackle a housing shortage in the capital by adding more affordable homes than previously planned as it leverages land owned by state developers. The loan-to-value (LTV) ratio for wealthy parts of Seoul, including the areas of Gangnam and Yongsan will be tightened to 40% of the property’s value from Monday, against 50% now. South Korea has complex borrowing rules for households, especially on mortgage loans, which are linked to income as well as the value and locations of homes. "As concerns about an upswing in home prices remain latent in the metropolitan area, we need extraordinary measures to stimulate supply while also controlling demand," the government said in a statement. South Korea plans to step up use of land owned by state-run companies, including the Korea Land & Housing Corporation, for development, while streamlining rules for the knockdown-and-rebuild of apartments to tackle its housing shortage. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Which stock should you buy in your very next trade? AI computing powers are changing the stock market. Investing.com's ProPicks AI includes dozens of winning stock portfolios chosen by our advanced AI. Year to date, 3 out of 4 global portfolios are beating their benchmark indexes, with 98% in the green. Our flagship Tech Titans strategy doubled the S&P 500 within 18 months, including notable winners like Super Micro Computer (+185%) and AppLovin (+157%). Which stock will be the next to soar?

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The Life Span of Apartments in Seoul #seoullife #gangbuk #apartmentlife #seoulhousing
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The Life Span of Apartments in Seoul #seoullife #gangbuk #apartmentlife #seoulhousing
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