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The deterioration of the South Korean real estate market and the response of the government

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  • The deterioration of the South Korean real estate market and the response of the government
  • Mukoyama, Hidehiko
  • Japan Research Institute


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Title The deterioration of the South Korean real estate market and the response of the government
Similar Titles
Material Type Articles
Author(English)

Mukoyama, Hidehiko

Publisher

[Tokyo]:Japan Research Institute

Date 2011
Journal Title; Vol./Issue Pacific Business and Industries:vol. XI, 2011(no. 40)
Pages 23
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Territorial Development < General
Government and Law < Laws and Legislation
Holding Japan Research Institute

Abstract

1. South Korea was the first major nation to recover from the recessionary slump triggered by the Lehman shock, and in 2010 it achieved 6.2% growth. One factor that could affect future economic performance as the underlying recovery trend continues is the expanding impact of a deteriorating real estate market. 2. Reasons for the worsening state of the real estate market include (1) government moves to strengthen measures designed to curb housing prices, which began to surge in 2005, (2) increased construction activity by real estate development companies in anticipation of bullish demand, and (3) the sudden deceleration of the economy after in the wake of the Lehman shock. 3. Also significant are structural factors, including the dramatic deceleration of new town development and population growth. (The rest omitted)