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| Korean real estate prices have a tendency to rise and fall, but it looks like the rush to build in Seoul and the surrounding suburbs will continue, and the aggressive building isn't going to stop any time soon. We think it is currently a fantastic time to come to Korea. The following information is from 2007, so please use it only as a reference.
 Comparing real estate by region and building type
Building type: The value of houses went up by 0.3%, whereas the value of condominiums went up by 1.6%. The rate at which the value of large properties increased was four times that of small properties. Large condominiums have become immensely popular in recent years.
By region: Real estate prices rose by 1.6% across the country, and prices in Seoul/Gangnam rose by 5.3%. This data on Seoul/Gangnam is based on the real estate prices in expensive areas.
New Town Project
In line with national and municipal government policies, the New Town Project to develop new neighborhoods for at least 80,000 households in Seoul and outlying suburbs (Gangbuk, Songpa, Pangyo, etc.) is currently underway. The New Town Project has been called a huge success.
Risk factors for real estate
Residential development is expected to continue in Seoul, but the real estate market is also expected to be in decline soon, due to rising interest rates, strengthening residential mortgages, etc. Therefore, we will continue to monitor the market for transitions and changes in demand.
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In addition to the already existing Trade Center, Airport Terminal and ASEM Center in the area of Teheranno, new startup companies are being established that will help to develop emerging industries. Fashion, the arts, and movies and animation have flourished in Apgujeong-dong and Cheongdam-dong, while the Samseong-Dong and Nonhyeon-dong areas specialize in art galleries, ceramics, and the furniture industry.
As of late, the Poi-dong area has seen a sudden rise in startup companies building housing complexes, and the entire region is seeing consistent and diverse development. The vast majority of residents live in large apartment complexes and premium villas, supported nicely by nearby department stores, cultural facilities and parks, thus creating an ideal and convenient location for residents.
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