How much is a house in Korea per square meter?

In Seoul, the capital of South Korea, the hottest topic at present is not North Korea's nuclear program, but soaring housing prices. Since the beginning of 2003, the average price of ordinary apartments in China has increased by 53%, while the average household income of Koreans has only increased by about 65,438+00% in the same period. In Seoul and its surrounding areas, house prices have risen by 20% this year alone. In Sangwolkok, far from the city center, a 960-square-foot two-bedroom apartment costs about $237,000. Compared with the annual income of about 30 thousand dollars, this price is obviously quite expensive. In Seoul's hottest scenic spot, Jeong 'ou Pavilion, an apartment of the same size costs $6,543,800+0.2 million. As a result, many people can't afford to buy houses, and their worries about social injustice are increasing. The rise in prices has also triggered speculation, pushing up house prices further. People are worried that there may be a bubble in the Korean economy. It is expected that house prices will become an important topic in next year's presidential election, just like the last presidential election four years ago. The victorious Roh Moo-hyun promised to take strong measures against the real estate market. But now the problem has become more serious, and some major candidates have criticized Roh Moo-hyun's approach on this issue. Park geun-hye, who is expected to run on behalf of the Grand National Party, said that policies aimed at helping the homeless have made it more difficult for them to buy a house. The most worrying problem is the bubble, which is talked about almost every day in newspapers and radio and television. If there is a bubble, house prices may eventually collapse, making a lot of wealth disappear. After Japan's real estate bubble burst in the early 1990s, Japan's economy fell into a 10 year recession. However, economists say that there was no speculation in the commercial real estate projects that brought a lot of bubbles to Japan that year. They also said that South Korea did not reach the level of Hong Kong's real estate market crash in the 1990s, when the prices of many houses in Hong Kong fell by more than half. Perhaps the most comparable is Britain, where house prices have doubled in the past 10 years, but the subsequent increase in house prices has eased due to the emergence of a large number of new houses. The main reason for the rise in house prices is the strong economic growth in South Korea, with an average growth rate of 5.5% in the past five years. With the improvement of economic conditions, many Koreans want to buy their own houses, which is also regarded as a symbol of wealth and security. People think that the Korean stock market fluctuates too much. So on average, 80% of Korean family wealth is invested in real estate. As the administrative, commercial, cultural and educational center of South Korea, Seoul's important position has attracted a large number of immigrants, resulting in a very tight housing supply here. Of the 49 million people in South Korea, 20 million live in Seoul and its surrounding areas. In the most popular residential areas, apartment prices have tripled since the beginning of 2003. The rise of house prices makes people try their best to get the maximum profit from this rapidly changing market. In 2004, Moon Myung Hee and her husband sold an apartment they bought two years ago and made a profit of 30%. At that time, she thought that the real estate price rose too much and would fall. Now, after renting a house for two years, she and her husband have just bought a new house in an area where conditions are expected to improve gradually. They can no longer afford to buy a house in the most promising residential area. The sharp and uneven rise in housing prices has caused a social gap between those who own high-priced real estate and those who have no housing. However, the government's efforts to control the price increase have not received results so far. In August 2005, the government raised the capital gains tax; For owners with multiple houses, the capital gains tax will reach 50% next year South Korea has also relaxed restrictions on overseas home purchases. The property tax will also increase substantially next year. However, the measures taken by the government to reduce the development of new projects may objectively worsen the situation. The reason is that when people hear about new development projects, they will buy old apartments in the area, hoping to sell them for profit after the developers move in. To this end, the government cancelled the redevelopment plan of Jiangnan, which was developed for the 1988 Seoul Olympic Games. But this has not affected people's idea of moving to this area, where there are some of the best schools in Seoul. With the decline of housing development scale, house prices continue to rise. Oh Suk Tae, an economist at Citigroup in Seoul, said that the government only set up obstacles in the market. Last month, the government changed its approach and announced plans to build more apartments. Nevertheless, most analysts predict that house prices will continue to rise until the new housing supply is listed in 2009 or 20 10. Because of this, many people will continue to worry. Bae Kyung Ho, a 35-year-old manager of a heavy industrial enterprise, has been saving money since she got married, hoping to buy an apartment in Seoul. But after two years of marriage, I still can't afford a house. He said that unless we win the lottery, we can't expect to buy an apartment with good conditions.