South Korean real estate market, greatly impact the financial crisis, coupled with the South Korean government to contain the financial crisis before the real estate prices rose too fast, has issued a series of speculative real estate pressure suppression measures to make the South Korean real estate market significantly shrink South Korea’s overall economic recovery had a negative impact.

In order to boost South Korea’s real estate market, August 29, Korea Ministry of Land and Marine, Planning and Treasury, the Financial Commission, jointly issued the “normalization of housing transactions and housing stability and support program”, also known as Korean “8 – 29 Real Estate Strategies. ”

“8 – 29 Real Estate Strategies,” provides that no residential housing, and only one family in the South Korean government provided a “real estate speculation in areas” other than the purchase price of 900 million won (about 760,000 U.S. dollars) The following residential, each financial institutions to relax their own, under the circumstances, “the total debt repayment rate”, this policy will be implemented to March 2011. In addition, with only 1 set of the family home after purchasing a new home within two years must be the original home purchase, otherwise an additional 1% interest rate.

The so-called “total debt repayment rate” is a 2006 South Korean Roh Moo-hyun government to stabilize the real estate market, housing prices rose too quickly introduced to the system, means the amount of annual repayment of loans in the share of household income ratio. Currently, the Korean government designated “area of real estate speculation,” to buy residential, the “total debt repayment rate” may not exceed 40%; in the speculative purchase of residential areas outside of the time, Seoul’s “total debt repayment rate” of 50 %.

South Korea The new real estate policy, the purpose of active real estate market, increase the volume of real estate. However, the South Korean government announced a new policy of the day, South Korean real estate market is still in a “static” state.

South Korea’s Ministry of Land and marine areas from the housing agency survey data obtained, three days after the release as of policy, this policy is basically not an impact on real estate prices, South Korea, said most real estate agents, this policy does not appear after the introduction of the Housing sale of a substantial warming of the phenomenon, but people who go to new flats critically increased.

In addition, data showed South Korea’s major commercial banks, so far, the number of loans to banks increased consultation, but consultation of the population, the actual actions are few.

South Korea’s Financial Committee of the view that the Korean government introduced a program aimed at the support needs of ordinary people to buy housing, while limited to transactions for the purpose of speculation, so a lot of money flooding into the property market is unlikely.

Therefore, some analysts believe that for the reinvigoration of the real estate market, home prices went up slightly to play the best stimulus. But South Korea to temporarily relax the existing real estate policies, this policy has limited the execution time, therefore, this policy is difficult to impact on property prices, however, may have to drop the price appear to be inhibited and relaxation.

As the South Korean government has introduced policies have little effect in real estate, South Korea Finance Minister Yoon Jeung-hyun said on September 1st, and now the major countries including the U.S. economic growth slowed down again, the world economy still many uncertainties, the Korean economy existence of a sustained recovery of the pressure, therefore, “I hope the Korean government’s policy to buy a house when people can solve specific difficulties encountered, this will help promote the South Korean construction and development of SMEs.”

South Korean Finance Minister’s statement to make the Korean people overwhelmed by the Korean government in the “8 29 Real Estate Strategy,” launched after the re-introduction of full of practical and effective policy expectations. Therefore, most people still hold on real estate transactions wait state.

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