A new Real Estate Investment Journal report released today paints a more accurate picture of the real estate market in South China, with home values continuing to surge and investors jumping on the opportunities.
The report is based on data from five data sources that tracked real estate in South Korea from August 2015 to March 2016.
The report also includes data from China, including data from real estate agents and brokerages that are able to track a broader range of real estate data, such as average sale prices and average price per square foot of new construction.
The median price per foot of development in South Korean cities rose from $1,829 in 2015 to $2,929 in 2016.
The median sale price in the South Korean market rose from 7.6 million won ($6,848) in 2015, to 8.4 million won in 2016, the report says.
The average price for new construction rose from 1.5 million won to 2.4 billion won in the same period, and the average price of homes that sold was 6.9 million won.
This is a 10.9 percent increase over the same time period.
This compares to a 6.1 percent increase in the Chinese market in 2016 as well.
The increase in South Koreans buying homes was largely driven by the economic crisis that hit China in late 2016, and a drop in the renminbi exchange rate, which lowered the value of the yuan.
The real estate report is available for download here:http://realestate.msnbc.ms/2p5p6q7The realtor at the South Korea Real Estate Institute, Seo Dong-Hyun, said the country’s real estate boom was due to the “greatness of economic conditions” in South Asia and the global economic recovery.
He said the market was not only benefiting from the strengthening renminbisc, but also the “strong fundamentals of housing.”
“In China, where real estate is a high-growth industry, many foreign buyers are also buying residential property.
The South Korean housing market is a real bargain compared to China,” Seo said.
He noted that the country had one of the lowest housing prices in the world, but was the only country in the region with a higher housing price per sq. ft. than in the U.S.
The South Korean real estate industry was also seeing a strong rebound in 2017, with house sales continuing to rise.
The real estate sector, however, saw a significant drop in house sales in 2018.