00:02you're listening to ai prism from seoul economic daily seoul apartment prices just set an all-time
00:09record for consecutive weekly gains but the pace is slowing fast lh's own ceo just said the mortgage
00:16cap on homes under 1.5 billion one needs to shrink further young buyers in their 30s already rely on
00:24loans for 40 of their home purchases more than any other age group and a mountain outside seoul is
00:30being leveled to make way for samsung's newest chip mega complex it's friday october 2nd let's look at
00:38what's happening in korea's property market seoul's price streak keeps breaking records even as momentum
00:44weakens district by district with gangnam's decline deepening and even yangsan turning negative meanwhile
00:51officials are debating whether to tighten loan limits further even though supply improvements
00:55remain years away and the new presidential chief policy officer's appointment signals continuity
01:02not a softening in property tax and lending policy here's what the numbers show sole apartment prices
01:09rose 0.09 for the week of september 28th extending their streak to 86 consecutive weeks a new all-time
01:17record but the pace has slowed for five straight weeks from 0.29 percent in late august gangnamgu fell
01:240.56 percent for the week its sixth straight week of worsening declines while yongsunggu turned negative
01:32for the first time in six weeks even as outer districts like seodamungu still rose 0.41 percent
01:39lh's ceo argued the current 600 million one mortgage cap on homes under 1.5 billion one should
01:47be tightened further even while acknowledging it could kick away the housing ladder for young buyers
01:53buyers in their 30s financed 40.1 percent of their sole home purchases with loans between february and july
02:00far higher than 25.1 percent for buyers in their 40s and 14.5 percent for those in their 50s
02:08president lee promoted a fiscal expansion minded economist to chief policy officer while keeping the real
02:14estate policy team largely intact signaling continuity on property tax and lending restrictions
02:20rather than a course change so what does this mean for buyers weighing a purchase this year earlier we
02:26said lh's ceo argued for tightening the mortgage cap on homes under 1.5 billion one here's what that
02:34actually means for you he directly acknowledged this could squeeze young first-time buyers who already
02:40depend on loans more than any other age group so if a further cut happens expect more buyers to turn
02:46to costlier credit loans or second-tier lenders to make up the gap with the policy team staying largely
02:52unchanged under the new chief policy officer don't expect a softening of lending rules anytime soon
02:59the more likely direction is tighter not looser what to watch whether the financial services commission
03:06or ministry of economy and finance formally takes up lh's proposal to cut the 600 million one mortgage
03:12cap further whether seoul's 86-week price streak finally breaks as momentum keeps slowing district by
03:19district and progress at the young and semiconductor mega complex where construction is being compressed
03:26by over a year to meet samsung's accelerated timeline that's today's ai prism real estate this episode
03:34was produced with ai assistance based on seoul economic daily reporting and reviewed by a human editor
03:41ai prism is a juan ifra award-winning series we'll be back tomorrow you've been listening to ai prism
03:47i prism from seoul economic daily
