South Korea home prices fall again in February, but pace moderates

SOUTH Korea’s home prices fell for a ninth consecutive month in February but the pace of declines slowed for a second month following a series of government measures aimed at averting a hard landing, data showed on Wednesday (Mar 15).

Housing prices across the country fell 1.15 per cent in February, following declines of 1.49 per cent in January and 1.98 per cent in December, the Korea Real Estate Board data showed. The December rate was the fastest drop since data releases began in late 2003.

Earlier this year, South Korea launched several policy measures to support sharply falling property prices, including easing of financial regulations on home buyers in most districts of the capital Seoul. REUTERS