Hot Property

June 2006 | Ratings Update

Surging property prices continue to trouble authorities, providing scope for a wider political squabble. The ruling Uri Party campaigned (unsuccessfully) in recent local polls on measures to cool the red-hot sector, but a post-election comedown is possible. A number of party officials have advocated softening punitive tax initiatives aimed at owners of luxury and second homes. However, two senior figures, Finance Minister Han Duck-soo and Vice Finance Minister Bahk Byong-won have suggested thatanti-speculative measures will remain in place. The government is juggling a political hot potato. Rising property prices suit homeowners enjoying rising wealth. But lower income Koreans are increasingly

If you would like to subscribe to China & North Asia Monitor and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to China & North Asia Monitor please click on the trial link below.