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Korea: Is property market next to fall?

Posted on 13 October 2008

From Koreatimes.co.kr: What goes up indeed comes down, and the continuously tumbling prices in the “Bubble Seven” districts further proves that even the nation’s hotbed of property speculation is not an exception to the rule.

So far this year, prices in these towns ― Mokdong, Gangnam, Sonpa, Seocho, Bundang, Yongin and Pyongchon ― are down an average of 3 percent, according to Property Bank, a Seoul-based real estate consulting agency. This means, an average apartment price in these districts that once cost 818 million won is now valued at 793 million won….. Full Article: Source


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