Seoul’s costly housing market is at the centre of the South Korea election

Mar 1, 2022 | INVESTING

Lee Jae-hong would have had no trouble buying a home in the suburb of Ilsan on the outskirts of Seoul back in 2018. With a strong credit score and a job at a blue chip company, borrowing enough for an average flat in the city costing about US$562,000 was well within reach.But the now 39-year-old held off thinking there would be better opportunities in the coming years – only to be “gobsmacked” by a near tripling of prices in his neighbourhood since President Moon Jae-in took office in 2017…

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