South Korea's real estate sector has grown with economy, as well as market has changed dramatically. According to KB researcher, the ratio of jeonse rates to average home prices is likely to increase, due to shortage of jeonse apartments, while tax cuts including those for property acquisitions is expected to revive the housing market. The jeonse rates nationwide in proportion to average home prices expanded 66% October last year. The government introduced tax cuts as a part of the government's housing stimulus measures last year, apartment prices increased by 0.4%, while jeonse rates expanded by 1.1%.
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