SEOUL: South Korea's ruling party leader on Thursday, Aug 19 urged the government to quickly adopt measures aimed at reactivating housing transactions, which have slumped due to uncertain economic prospects and strict regulations.
Grand National Party Chairman Ahn Sang-soo made the remarks during a meeting of senior party members, a media department official said, without elaborating.
The Ministry of Land, Transport and Maritime Affairs had planned to announce such measures last month but has put the plan on hold as it was unable to reach an agreement with other government ministries on details.
The main Seoul stock market's sub-index of construction companies has risen only 0.5% over the past month, underperforming the broader market's 2.2% gain partly due to the delayed measures.
Housing prices have risen from a year earlier but sale transactions have been shrinking, partly because of strict restrictions on mortgage borrowing imposed in recent years.There has been a broad consensus among policymakers on the need for market-boosting measures but also concerns that eased mortgage lending rules could spark a property price bubble and sharply lift already heavy household debt. -- Reuters
TOP PICKS BY EDGEPROP
Bangalow Land Jalan Teratai Sg Ramal Kajang
FULL LOAN Teres 2 Tingkat Desa Putra Sg Merab
Ukay perdana house for sale 5 rooms 5 bathrooms
Rumah Teres 2 Tingkat di Sungai Petani
Sungai Petani, Kedah
[270K HOT SELLING INVESTMENT PASSIVE INCOME 2R+2B]
Semi D Duta Suria Residency Ampang 3.5 Storey Corn
Kampung Sungai [email protected] Panglima Garang
Kelisa Ria Apartment Sungai Tangkas Bangi Kajang
[RENTAL GET RM 3000 READY TENANT 2020 NEW PROJECT]
DOUBLE STOREY HOUSE FOR SALE AT BUKIT RAJA, KLANG
NEW 1 Sty SEMI D Seksyen U14 Booking RM500 Only
Shah Alam, Selangor
Cyberjaya | Cash Back Up To 35K New Condo
Build your own semi d / bungalow in ampang