09.01.2012 - Korea: Real estate won't fail but beware of over-leveraging
Real estate has long been considered an invincible asset class in Korea.Owning a piece of real estate has been nearly every Koreanís dream as the prices of apartments jumped 1,037 percent on average in 24 years between 1987 and 2010, compared to 652 percent growth in stock prices, according to a research by KB Financial Group. Koreansí unwavering faith in investment into properties is now being challenged. One aging apartment complex in the wealthy neighborhood of Gaepo-dong in southern Seoul saw its value skyrocketing 1,074 percent in 20 years but drop 11.5 percent in the past five years, the research showed.............................................Full Article: Source
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