Most Popular
-
1
Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
-
2
Seoul blanketed by heaviest Nov. snow, with more expected
-
3
NewJeans to terminate contract with Ador
-
4
Seoul snowfall now third heaviest on record
-
5
Samsung shakes up management, commits to reviving chip business
-
6
Heavy snow of up to 40 cm blankets Seoul for 2nd day
-
7
Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
-
8
NewJeans terminates contract with Ador, embarks on new journey
-
9
How $70 funeral wreaths became symbol of protest in S. Korea
-
10
Chaos unfolds as rare November snowstorm grips Korea for 2nd day
The volume of home transactions in South Korea jumped to the highest level in more than six years last month, buoyed by the government’s property market stimulus measures, data showed Sunday.
According to the data provided by the Ministry of Land, Infrastructure and Transport, a total of 129,907 homes were sold and bought in June, up 128.2 percent from the same month a year earlier.
The number is also up 44.1 percent from the previous month when 90,136 homes changed hands. The June figure marked the largest total since December 2006 when the number of home transactions came to 137,848.
The sharp growth in home transactions is attributable to stimulus measures being taken by the government to boost the prolonged sluggish local property market, the ministry said.
In April, it unveiled a set of such measures, including providing tax breaks for first-time home purchasers.
Home purchases spiked as many people also rushed to benefit from acquisition tax reduction before it expired late last month, experts said. (Yonhap News)
According to the data provided by the Ministry of Land, Infrastructure and Transport, a total of 129,907 homes were sold and bought in June, up 128.2 percent from the same month a year earlier.
The number is also up 44.1 percent from the previous month when 90,136 homes changed hands. The June figure marked the largest total since December 2006 when the number of home transactions came to 137,848.
The sharp growth in home transactions is attributable to stimulus measures being taken by the government to boost the prolonged sluggish local property market, the ministry said.
In April, it unveiled a set of such measures, including providing tax breaks for first-time home purchasers.
Home purchases spiked as many people also rushed to benefit from acquisition tax reduction before it expired late last month, experts said. (Yonhap News)
-
Articles by Korea Herald
