[Economy 365]
In a situation where transactions are cut off, the decline in apartment prices is getting worse.
According to the Korea Real Estate Agency, apartment prices in Seoul this week fell 0.19% from the previous week, recording the biggest drop in 10 years since 2012.
By distinction, Nowon and Dobong fell by more than 0.3%, and Seodaemun, Eunpyeong, and Gangbuk fell by 0.2%, and the Gangbuk region fell sharply.
In the Gangnam area, Songpa-gu fell 0.23%.
In the metropolitan area, Gyeonggi fell 0.27%, Incheon fell 0.31%, and nationwide apartment prices fell 0.2%, the largest decline in 10 years.
It is predicted that the falling house prices will bottom out between March next year and February 2024.
The Korea Construction Policy Institute analyzed that the price of jeonse would also bottom out in February 2025, and that as a result, the housing market would stagnate for the next two years.
The researcher explained that the recession will continue for a while as interest rates rise and the economic situation worsens recently, which will dampen the demand to buy a house.
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This year, for the first time, the number of people aged 65 and over exceeded 9 million.
As a result of this year's senior statistics released by the National Statistical Office, the number of people aged 65 and over stood at 9018,000 this year.
This means that 17.5% of the total population is elderly, and it is predicted that this proportion will rise to 20.6% in 2025, three years later, to enter a super-aged society.
The transition period from an aged society to a super-aged society is 7 years in Korea, which is faster than 50 years in the UK, 15 years in the United States, and 10 years in Japan.