Manya Rathore
Research expert covering India
Real estate in South Korea - statistics & facts
In the last several years, the real estate market in South Korea saw heavy uncertainty with fears of a recession and interest rate hikes. 2022 saw the mortgage rate for new loans rise to break the four percent mark, reaching a peak of 4.73 percent. While mortgage rates have since seen an incremental decline, the last quarter of 2024 saw the rate remaining higher than pre-2022 levels. For the domestic real estate market, this meant fewer households were willing to take on new mortgage loans, and consequently, a slowdown in real estate transactions. The number of apartment transactions have slowly recovered since then but has not yet reached the figures seen prior to 2022.
