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* Date : 2018-10-02

Foreign Correspondents Ep. 106 South Korea's real estate market
South Korea's overheating real estate market

On September 21, the Moon Jae-in government introduced its ninth round of real estate control measures since taking power. The latest measures have pledged a significant boost to housing supply in the Seoul capital region, while laying the groundwork for the construction of new, planned cities. The Moon government's real estate measures have been devised to curb runaway prices in Seoul and the surrounding regions. However, signs of overheating in the property market are not limited to South Korea alone. According to the IMF's Global Real House Price Index for the fourth quarter of 2017, real estate prices across the world have risen at the fastest rate since the year 2000. This has prompted countries such as China, the United States, and the United Kingdom to adopt control measures in order to curb housing prices. In South Korea, home prices in the Seoul area, particularly those of apartment properties, have seen notable gains. This is due to the preference among many South Koreans' for apartment "brands" built by large construction firms, as well as properties in close proximity to prestigious schools for their children to attend. In this week's edition of "Foreign Correspondents", we sit down with our panel of journalists to talks about the Moon government's latest real estate measures and to take a wider look at property markets around the world.


Panelists
Andres Sanchez Braun, Correspondent / EFE
Anton Scholz, Correspondent / ARD TV&Radio
Sakabe Tetsuo, Journalist / NNA Japan

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