Property prices in Seoul
One of the Seoul mayoral election's issues is how to control the Seoul property prices. Surprisingly, according to the statistic, property prices in Seoul have increased 37 times within 30 years. Also Seoul city's property prices are more expensive 10 times than local area. Therefore, ordinary people are hard to buy houses in Seoul. Then, let's know about the real estimate in Korea.
First of all, property prices of Korea are the most expensive in the world. As of 2005, Total property prices of Korea are 2 thousand 3 hundred won. It means that we can buy Canada six times and buy France 8 times by using our whole property prices. Also this figure ranked third and this means Korean people have hard time to buying their own house.
Second thing is polarization of property prices between capital area and non-capital area also, Gangnam and the other area of Seoul. Especially, since including Gamnam, Seoul and capital area's property prices skyrocketed, price differences was grown.
We can check this polarization as calculate each Gu's total property prices. If we add three GU, Gang-nam, Seo-cho, Song pa, which property prices are high, the whole price is one hundred eighty four trillion. By using this whole money, we can buy all other 12 Gus, Nowon, Gooro, Sungdong, Gangbuk etc.
Current Seoul mayor's election commitment is to lower property prices and balance the real estimate prices between big 3 GU (Gangnam, Seocho, Songpa) and the other Gus. Until now, property price is already increased a lot; I think it's hard for just mayor Park to deal with this issue. I think mayor and other politicians make it to reduce property price for ordinary people.
Former Seoul Mayor Oh Se-hoon of the (Gangnam, Seocho, Songpa-gu)Mayor, which has a story. The reason why is because three GU received overwhelming support. The rich are trying to be more wealthy. It only gets bigger the gap between rich and poor, and real estate prices will also rise.
ReplyDeleteThe current mayor of Seoul has proposed a solution to this problem. Forward the results seem to be seen.
Maybe, there are a lot of bubble price in Gangnam-gu of Seoul. Because, there are one of floods every year and nothing special to me... I think...
ReplyDeleteYes, for a longtime, seoul's property price is one of the important problems. Thesedays, many the rich invest to rebuilt apartment for purpose of giving their assets to their children. This will make the gap between the rich and poor.
ReplyDeleteYour essay is so analytic so that I could know how serious gap of prperty of price of Seoul is.
ReplyDeleteIt's serious problem....