Published : Dec. 23, 2020 - 13:10
This image depicts people moving out of Seoul to neighboring areas to take advantage of lower real estate prices. (Yonhap)
The number of South Koreans who moved to different parts of the country rose for the sixth straight month in November amid rising housing prices, data showed Wednesday.
The number of people who changed their residences gained 7.9 percent on-year to 610,000 in November, according to the data compiled by Statistics Korea.
The tally has risen since June, when the number of such people grew 25.3 percent on-year to 607,000.
The population mobility rate -- the number of those relocating per 100 people -- remained at 14.5 percent in November, up 1.1 percentage points from a year earlier.
The statistics agency said people's movements increased as housing transactions rose amid rising home prices.
The rise in housing prices showed no letup despite the government's efforts to stabilize soaring home prices. Housing prices rose 0.6 percent on-year in November, the fastest gain since June 2018, when home prices also went up 0.6 percent, according to a separate report by Statistics Korea.
Prices for home rentals also skyrocketed in recent months due largely to a supply shortage of housing lease deals.
AThe country has rolled out a series of comprehensive measures to stem rising home prices, including tax hikes and loan regulations. But the measures have resulted in only a short-term letup in housing prices. (Yonhap)