<Anchor> It
's friendly economy time.
Reporter Han Ji-yeon is also here today (the 20th).
It is said that data analyzing how much house prices have risen over the past 18 years has been released.
<Reporter>
This is the data analyzing the house price of 124,000 households in Seoul from 2004 to May of this year.
It has nearly quadrupled in the past 18 years based on 30 pyeong, but it more than doubled during the previous administration alone.
The apartment building, which was 340 million won in 2004, fluctuated with each administration, and recorded 599 million won in May 2017, just before the previous administration. It more than doubled to 8 million won.
The gap between Gangnam 3rd district and non-Gangnam district also widened to 1.51 billion won, the highest in 18 years.
How much did workers' wages rise while house prices quadrupled in 18 years?
On average, it increased from 19 million won to 36 million won, which is less than doubled. Now, to buy a 30-square-meter house in Seoul, it takes 36 years without spending a single penny per month.
That's twice as long as it was 18 years ago.
Although the housing price bubble has recently been fading, it is not easy to dream of owning a house.
<Anchor>
As I just said, house prices are falling a little bit lately.
However, most of this trend has been seen on a weekly basis, and you say that house prices are falling a little bit by month?
<Reporter>
Last month, the national house price fell by 0.01% from the previous month.
By housing type, apartment prices fell the most, with a decline of 0.1%, a decrease from the previous month's 0.05%.
House prices have fallen due to the widespread perception that house prices are at a peak, and as interest rates rise due to interest rate hikes, buying sentiment has contracted.
In particular, the transaction volume of apartments in the metropolitan area, where house prices rose sharply, fell sharply, and the number of apartments bought and sold in Seoul last month fell below 1,000 for the first time ever.
<Anchor>
Are you saying that house prices are falling not only in Korea but also in other countries?
<Reporter>
Right now, countries around the world are raising interest rates to catch inflation.
Global house prices, which soared during the corona virus, are also falling.
Global home prices soared between 2020 and 21, rising 19% from the first quarter of 2020 to the first quarter of this year.
In order to revive the economy damaged by the corona virus, many countries wrote economic revival measures, lowering interest rates to zero.
It made it easier to borrow money, so I invested in real estate, stocks, and coins.
In particular, as it is difficult to go out during the Corona crisis, the demand for spacious houses has increased, and house prices have skyrocketed without knowing the end.
But since inflationary pressures have grown, countries have been raising interest rates.
In a situation where interest rates are snowballing, buying a house has become burdensome, and home prices have fallen in a number of countries.
In the first quarter of this year, global house price growth slowed to 3.9%.
<Anchor> The
decline in house prices seems to be different by country, but in which country have house prices dropped a lot?
<Reporter> In
general, real estate accounts for a high proportion of the national economy, but Canada and New Zealand, which have led the global housing price rise, have been hit hard.
Canada's average house price fell nearly 8% last month from its all-time high at the beginning of this year.
New Zealand also plummeted 8% from its all-time high at the end of last year, the biggest monthly drop since the 2020 pandemic.
The same is true for other countries, with Australia dropping more than 1% from the previous month.
House prices also fell in Brazil, Chile, Spain, Finland and India.
In particular, real estate in the United States, where there was a lot of foreign investment, is also stagnant. From April last year to March of this year, the number of houses sold to foreigners decreased by nearly 8% compared to the previous year, the lowest level since 2009 statistics were compiled.