Sales of housing units in South Korea dropped to a seven-year low in February, the government said Thursday, highlighting a prolonged recession in the country’s real estate market.
The number of home transactions came to 47,288 last month, down 14.2 percent from the same month last year, according to the Ministry of Land, Transport and Maritime Affairs.
The figure is the lowest since 2006 when the government began tracking home sales, it said.
Having done some real estate research back in Canada, I peek up a little when I see certain phrases in this area. “Lowest since….” “Seven-year low….” are generally key indicators when to buy real estate. Does this guarantee anything? Never. It does help you make better decisions though.
I would love to get an older Korean house, modernize the hell out of it and enjoy a nice mountain view!
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