[Photo] Seoul real estate prices continue to skyrocket despite government measures

Nearly 50% percent of Seoul apartments cost over 90 million won (US$753,655), according to data compiled by the real estate app Zigbang. The data revealed that 48.8% of private housing in Seoul now exceeds 90 million won in value; this figure was a mere 10.8% in 2017 and 29.2% last year. Although the Moon administration unveiled a series of measures to control skyrocketing real estate prices on Sept. 13, 2018, the South Korean capital’s property market continues to spiral out of control. Although the concentration of real estate exceeding 90 million won in value in the three affluent Gangnam districts decreased from 92.2% to 73.6%, the proportion of such high value real estate in districts north of the Han River increased from 6.2% to a whopping 45.4% in just one year. (Ryu Woo-jong, staff photographer)