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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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The Ichon area is known to possess many natural places for inhabitants to enjoy and relax, such as Hyochang Park, Yongsan Family Park, the War Memorial of Korea and Hangang Citizen's Park. Many Japanese citizens gathered together to form a Japan Town, where there are many schools for foreigners, Japanese restaurants Japanese banks and other establishments that are easily accessible to Japanese people. There are foreign embassies, cultural centers, the Itaewon sightseeing district, and compared to other regions, there are a particularly high amount of foreign residents in this area. Recently, Yongsan has actively pursued urban development, and hereafter it is expected to change dramatically into one of Seoul's economic, cultural and administrative centers.
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