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S.Korea’s real estate market faces growing risks on falling prices

Posted on 01 November 2012

South Korea’s real estate market is facing growing risks on falling property prices, boosting concerns that over-indebted households may fall into troubles in repaying mortgage loans amid falling prices, a report by the central bank showed Wednesday.
According to the financial stability report submitted by Bank of Korea (BOK) to the National Assembly, apartment prices in the metropolitan area declined 2.7 percent during the January- September period. The prices tumbled 6.9 percent on average compared with the previous high tallied in September 2008………………………………………..Full Article: Source


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