Slight Rise in Real Estate in Busan and Ulsan
Notwithstanding the government’s consecutive measures to stabilize the real estate market, real estate rose 2.76% nationwide, almost the same as last year. Prices in Busan were under the average, only up 1.3% along with Ulsan and Gyeongnam Province.
According to the report ‘Trends of the Real Estate Market in the First Half of 2006’ from the Ministry of Construction and Transportation, national real estate prices were up due to a wide variety of development projects such as Administration-Centered Cities, Corporate Cities, Innovative Cities and New Towns that have been driven by the government.
Among local governments, prices rose in Seoul 4.19%, Chungnam Province 4.12%, Chungbuk Province 3.28%, Daejeon City 2.93%, and Gyeonggi Province 2.43%. Whereas, Busan City was up 1.13%, Ulsan City 1.09%, and Gyeongnam Province 1.41%.
In particular, the greatest increases in real estate were in Yeongi (9.64%) in Chungnam Province, which was nominated as an administrative city, Jinchon (9.43%), Gongju City (7.3%), Gimchon City (7.12%), and Eumsung (7.11%). According to a source, Jinju, which was nominated as an innovative city in Gyeongnam Province, recorded an increase of 2.44%.
Despite increasing prices of real estate in Busan City, it is reported that the sale price of real estate has been, rarely, up to 44.9%, compared to last year. In Busan, prices of some new apartment complexes opened in the first half of this year have increased, but other regions of Busan are opposite, down 70% compared to last year.
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 / 입력시간: 2006. 07.26. 09:42
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