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  • Korea’s home sales rise for second consecutive month in Feb.
    Korea’s home sales rise for second consecutive month in Feb.
    Sales of housing units in South Korea surged from a year earlier last month, signaling a recovery in the property market, the government said Thursday.In February, the number of home transactions came to 78,798, up 66.6 percent from the same month last year, according to the Ministry of Land, Infrastructure and Transport.February marks the second consecutive month the country’s home transactions posted an on-year ga...
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Korea’s home sales rise for second consecutive month in Feb.

March 13, 2014 - 20:44 By Korea Herald
Sales of housing units in South Korea surged from a year earlier last month, signaling a recovery in the property market, the government said Thursday.

In February, the number of home transactions came to 78,798, up 66.6 percent from the same month last year, according to the Ministry of Land, Infrastructure and Transport.

February marks the second consecutive month the country’s home transactions posted an on-year gain.

“It appears the permanent reduction of the acquisition tax and removal of the cumulative tax for multiple-home owners helped boost hope for a recovery in the real estate market,” the ministry said in a press release.

The recovery was more visible in Seoul and the surrounding area that includes Gyeonggi Province and Incheon. (Yonhap)
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