{"id":33482,"date":"2016-11-08T17:18:08","date_gmt":"2016-11-08T10:18:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/thanks-but-south-korea-only-wants-real-home-buyers\/"},"modified":"2016-11-08T17:19:38","modified_gmt":"2016-11-08T10:19:38","slug":"thanks-but-south-korea-only-wants-real-home-buyers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thanks-but-south-korea-only-wants-real-home-buyers\/","title":{"rendered":"Thanks, but South Korea only wants \u2018real\u2019 home buyers"},"content":{"rendered":"


\nNew property curbs unleashed in Seoul and other cities
\nPedestrians crossing the street near Gangnam Station in Seoul. Vincent St. Thomas\/Shutterstock
\nTaking its cue from neighbouring China, the South Korean government launched last week a set of property curbs to calm down frothy home prices in its largest cities.
\nThe measures will stabilise the housing market by \u201csuppressing speculative investors and favoring real homebuyers,\u201d the Ministry of Land, Infrastructure and Transportation said in a statement.
\n\u201cWe plan to take preemptive measures to stabilise the property market in all of Seoul, Sejong, and parts of Gyeonggi province and Busan, to make sure the market is focused on actual demand,\u201d outgoing finance minister Yoo Il-ho said.
\nOne of the targets of the cooling measures is the contentious practice of trading purchasing rights, which the ministry has banned in eight cities, the Nikkei Asian Review reported. Purchasing rights, designed as certificates of entitlement for the purchase of a particular property, are often resold at a premium in the secondary market, making them too expensive for many first-time\u00a0homebuyers.
\nMore: The new Gangnam style is this sloping-roof housing block in Seoul
\nProspective buyers of Seoul homes will be required not to sell their properties for as long as 18 months from the date of purchase,\u00a0the ministry announced. Downpayments\u00a0will also be raised to 10 percent of housing values, as consumers continue to exploit easy access to credit and nationwide household debt increases to record highs.
\nMortgage interest rates in the country hover as low as 2 to 3 percent, with the central bank keeping benchmark rates at 1.25 percent. Meanwhile, household debt peaked at KRW1,257.3 trillion (USD1.1 trillion) in June.
\nApartment values in Seoul\u2019s famous Gangnam area alone are estimated to be 10 times pricier than the country average. Prices in the district\u00a0soared 5.8 percent in the first 10 months of 2016 from the same period last year.
\nRead next: This South Korean city is seeing an influx of Chinese investments
\n
\nSource : property-report.com
\nRead more…Thanks, but South Korea only wants \u2018real\u2019 home buyers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New property curbs unleashed in Seoul and other cities Pedestrians crossing the street near Gangnam...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-33482","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8I2","jetpack-related-posts":[{"id":148830,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-in-chinas-biggest-cities-stabilise-under-beijings-stimulus-measures\/","url_meta":{"origin":33482,"position":0},"title":"Home prices in China\u2019s biggest cities stabilise under Beijing\u2019s stimulus measures","date":"January 17, 2025","format":false,"excerpt":"\r Prices across 70 major cities fell in December by the smallest percentage in 18 months, and prices in the four biggest metropolises rose.\r \r Source : South China Morning Post\r Read more...Home prices in China\u2019s biggest cities stabilise under Beijing\u2019s stimulus measures","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66692,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-august-home-price-growth-cools-in-top-cities-as-property-curbs-bite\/","url_meta":{"origin":33482,"position":1},"title":"China\u2019s August home price growth cools in top cities as property curbs bite","date":"September 18, 2017","format":false,"excerpt":"\r Home price growth lost steam in all major Chinese cities in August, an indication that Beijing\u2019s efforts to stabilise housing costs are continuing to pay off. Prices of new private homes rose in 46 out of 70 major cities tracked by the National Bureau of Statistics, down from 56\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114393,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-plans-to-ease-property-curbs-deputy-pm\/","url_meta":{"origin":33482,"position":2},"title":"No plans to ease property curbs: Deputy PM","date":"February 20, 2020","format":false,"excerpt":"\r His statement comes after developers made renewed calls to loosen a measure penalising them for their failure to complete and sell new projects in five years.\u00a0 Singapore\u2019s Deputy Prime Minister and Finance Minister Heng Swee Keat revealed that the government has no plans to ease the property cooling measures.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32525,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-property-sector-to-stabilise-as-cooling-measures-take-hold-moodys-says\/","url_meta":{"origin":33482,"position":3},"title":"China property sector to stabilise as cooling measures take hold, Moody\u2019s says","date":"November 1, 2016","format":false,"excerpt":"\r China\u2019s real estate market is on track to stabilise despite the risk that any further tightening measures could hurt developers and cause a sharp fall in home sales, according to Moody\u2019s analysts. Meanwhile, the credit ratings agency sees Hong Kong property companies enjoying modest earnings growth in the next\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":168211,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/beijing-municipality-eases-home-purchase-curbs-to-shore-up-sluggish-market\/","url_meta":{"origin":33482,"position":4},"title":"Beijing municipality eases home purchase curbs to shore up sluggish market","date":"December 26, 2025","format":false,"excerpt":"\r The Beijing municipal government has further relaxed home buying curbs by lowering the threshold for individual income tax payments and by allowing multi-child families to purchase extra properties. The move was seen as a precursor to more national supportive policies expected in 2026 aimed at shoring up the sluggish\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131579,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/turning-point-for-chinas-property-developers-beijing-measures-to-ease-credit-crunch-stabilise-sector-analysts-say\/","url_meta":{"origin":33482,"position":5},"title":"\u2018Turning point\u2019 for China\u2019s property developers: Beijing measures to ease credit crunch, stabilise sector, analysts say","date":"November 14, 2022","format":false,"excerpt":"\r Beijing\u2019s 16-point rescue plan to stabilise the nation\u2019s wobbling property sector is being hailed by analysts as the clearest sign yet of the government\u2019s determination to resolve the crisis.\r \r Source : South China Morning Post\r Read more...\u2018Turning point\u2019 for China\u2019s property developers: Beijing measures to ease credit crunch,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33482"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=33482"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33482\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=33482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=33482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=33482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}