Seoul: The combined value of homes in Seoul accounted for nearly 34 percent of South Korea's total housing market value, central bank data showed Wednesday.
According to Yonhap News Agency, the country's total housing market value amounted to 6,839 trillion won (US$4.66 trillion) as of the end of 2023, and the value of homes in Seoul stood at 2,320 trillion won, or 33.92 percent of the total, based on data compiled by the Bank of Korea (BOK).
Seoul's population was recorded at 9.33 million in 2023, which is only 18.04 percent of the country's total population of 51.71 million. Gyeonggi Province, surrounding the capital city, followed with a housing value of 1,976 trillion won. The southeastern city of Busan reported a housing market value of 389 trillion won, and the northwestern city of Incheon was at 321 trillion won.
Together, the value of homes in Seoul and the surrounding metropolitan area represented 67.5 percent of the national total. Nationwide, apartments constituted 76.3 percent of all homes, with detached houses comprising 15.5 percent, as indicated by the data.