What are the main factors driving changes in house prices in Korea?
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The main factors influencing house prices in Korea include various elements such as housing purchasing power, population changes, economic variables, interest rates, and demographic factors. Changes in housing purchasing power in Seoul have a significant impact on apartment prices in local hub cities like Jeonju, indicating a lag effect . In Seoul, the rise in housing prices is attributed to factors like government interventions and monetary policies rather than speculative bubbles . Additionally, the comovement between house prices and rent prices in Korea is influenced by industrial production, interest rates, and consumer price index fluctuations . Economic factors like interest rates and macroeconomic conditions also play a role in housing price volatility, with effects varying based on different volatility regimes and business cycles . Furthermore, demographic shifts, such as population aging, significantly impact house prices in regional markets .
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| Papers (5) | Insight |
|---|---|
10 Citations | Main factors affecting house prices in Korea are real GRDP per capita and the dependency ratio, while total population does not significantly impact house prices according to the study. |
1 Citations | Factors affecting house prices in Seoul include government interventions, monetary policies, and fundamental value changes, rather than speculative bubbles, as observed post-2017. |
| Main factors driving changes in house prices in Korea include interest rates during boom periods and unemployment rates. Factors vary based on economic conditions and require tailored stabilization policies. | |
| Main factors driving changes in house prices in Korea are changes in Seoul's Housing Purchasing Power Index affecting local hub cities like Jeonju and population fluctuations, as per the study. | |
3 Citations | Main factors driving changes in house prices in Korea include industrial production index (IPI), Jeonse price, interest rates, consumer price index (CPI), and foreign interest rate shocks. |
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