– Seoul’s high-priced housing price increase rate exceeded 10% in the fourth quarter of last year, the third highest among major cities in the world. According to the’Prime Global Cities Index’ released on the 7th by British real estate information company Night Frank, the price of expensive homes in Seoul in the fourth quarter of last year rose 11.7% year-on-year. It recorded the third highest growth rate among 45 major global cities.
This index targets the price trend of prime housing, the top 5% of prices by major cities. The rate of increase in the prices of expensive houses in all cities surveyed was 1.9% on average. Despite the aftermath of Corona 19, which swept the world, the rate of increase compared to the same period last year increased rather than in the third quarter (1.6%) due to the low interest rate.
By city, Auckland, New Zealand’s metropolitan city, one of the model countries for COVID-19 quarantine was the highest at 18%. Then, Shenzhen in China (13.3%) came in second, followed by Seoul. Manila, the Philippines (10.2%) took fourth place and Moscow, Russia, ranked fifth with 9.9%.
Russia’s St. Petersburg (8.7%) ranked 6th, and China’s Shanghai (8.5%) ranked 7th. Vancouver, Canada (8.1%), ranked 8th, and Zurich, Switzerland and Los Angeles, USA, with an increase of 8.0% and 7.6% respectively, 9th and 10th. Among Asian cities, Shenzhen, China, Shanghai, Seoul, and Manila, the Philippines, are among the top ten.
On the other hand, in Bangkok, Thailand, high-end home prices in the fourth quarter of last year fell 7.3% from a year ago, ranking 45th, the lowest. In addition, high-priced housing prices in London (-4.3%, 41st) and New York (-5.1%, 42nd) in the United States were also found to have fallen significantly. Hong Kong also ranked 44th out of 45 cities, with the price of expensive homes falling 6.9% over the same period.
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