S Korea home prices rise for fifth straight month
Jan data up as low prices, cheap loans draw buyers back
Add BT as a preferred source[SEOUL] South Korean house prices rose for a fifth straight month in January, as consumers' growing confidence in Asia's fourth-largest economy nourished a recovery from the longest sequence of price declines on record. The property market is still below levels seen six years ago when the market slumped after the 2008-2009 global financial crisis, according to real estate agents.
But data released yesterday by Kookmin Bank, the country's top mortgage lender, showed house prices rose 0.11 per cent in January from December as a combination of low prices and cheap borrowing has begun to draw buyers back.
On a yearly basis, prices rose 0.54 per cent last month and at the fastest pace since October 2012.
Share with us your feedback on BT's products and services
