[Monitor] Rising costs for owners living in own home

While overall prices are on a downward trend, the cost of residing in one’s own home has continued to rise.

Statistics Korea said the owner-occupied housing price index increased by 2.7 percent between January and September this year compared to the same period last year. The overall consumer price index, meanwhile, increased by 0.9 percent.

The owner-occupied housing price index shows changes in the cost of goods and services required to live in one’s own residence and the level of rent that their house would command. The index is currently not included in the consumer index in South Korea.