Off the wire
• Heavy rains bring southern Indian city of Chennai to standstill  • NBA results/standings on Sunday  • Myanmar's parliament speaker vows to complete undertakings in remaining period of term  • Spotlight: From Beijing to Manila, Chinese proposals boost confidence in Asia-Pacific economy  • Cambodia sets up committee to enforce arrest warrant for opposition leader  • Indian stocks open lower  • Australia "a step closer" to negotiating FTA with European Union: trade minister  • Boosting inclusive growth should be priority for APEC leaders' meeting: PECC report  • Prehistoric 'sludge' could help transplant surgery, say Australian scientists  • Myanmar's parliament resumes sessions one week after election  
You are here: 　 Home

S.Korea's land prices jump 3,000 times in 50 years

Xinhua, November 16, 2015 Adjust font size:

Land asset prices in South Korea jumped more than 3,000 times in the past 50 years, central bank data showed Monday.

The country's nominal land prices totaled 5,848 trillion won (5 trillion U.S. dollars) in 2013, up about 3,030 times compared with 1.93 trillion won in 1964, according to a Bank of Korea (BOK) report.

Land prices per square meter increased from 19.6 won to 58,325 won in the same period.

The ratio of total land prices to gross domestic product (GDP) averaged 392 percent during the 50-year period. It peaked at 547 percent in 1970 and 597 percent in 1991 when the real estate market boomed.

The percentage of government-owned land to the total continued to increase from 13.2 percent in 1964 to 26.1 percent in 2013. Endit