The Korean government has declared that it would increase property taxes in a new effort to halt soaring real estate prices that primarily affect Seoul. Data reported by Bloomberg by Kookmin Bank shows how much prices have risen in the region.
In around three years , the price of an average apartment in Seoul has risen by more than 50 percent, from about $500,000 (600 million Won) to $770,000 (925 million Won). Within the same time period, Second City Busan, as well as Daegu and Incheon reported only marginal gains.
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