Land Minister Kim Yun-duk Says, "A 6 Billion Won Apartment Now 5 Billion... The Market Is Regaining Its Sense"

According to Financial News, Kim Yun-duk, Minister of Land, Infrastructure and Transport, said on the 21st, "Recently, asking prices for high-end apartments in Seoul have been falling," adding, "The housing market is regaining its sense."
In a post on his social media (SNS) the same day, Kim wrote, "It is never right for a so-called real estate republic, where all wealth is concentrated in property," reiterating this view.
He stressed, "Apartments that used to be in the 6 billion won range are now in the mid-5 billion won range, and those in the 3 billion won range, although varying by floor and building, are settling into the high-2 billion won range."
Kim explained, "What we are seeing now—an increase in listings, a break in the rapid surge, and a slowdown in the rise of apartment sale and jeonse prices nationwide—is a perfectly normal process."
He went on to say, "If all of our boundless potential ends up being reflected only in housing prices, we can never expect a dynamic future for South Korea."

going@fnnews.com Reporter Choi Ga-young Reporter