Indicators
Cooling in Seoul’s Apartment Market Pauses Ahead of BOK Meeting
- High-frequency data show top properties demand still strong
- Government continues to pledge to rein in household debt
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The trend toward slower growth in prices for apartments in Seoul has paused so far in October, underscoring the difficulty of taming demand for top real estate assets and complicating the case for a pivot as the Bank of Korea prepares to set policy on Friday.
Apartment prices in the South Korean capital rose 0.1% in the first week of October from the previous seven-day period, the Korea Real Estate Board said Thursday, a day before the central bank convenes to decide on its benchmark interest rate. The growth matched the pace reported a week earlier, snapping a streak of moderating results that began in mid-September.