Home ownership rate among South Korean households rose last year to 55.9 percent, a government report showed Friday.
Eleven million households possessed their own homes out of the total 19.67 million households as of Nov. 1, 2017, according to Statistics Korea.
The home ownership rate was 55.9 percent last year, up 0.4 percentage points from a year earlier. It indicated 44.1 percent of the households was houseless.
The still high houseless rate came as multiple homeowners increased. The number of those who owned more than two homes was 2,119,000 in 2017, up 140,000 from the previous year.
The number of people owning at least five homes gained 6,000 over the year to 115,000 in 2017.
The South Korean households had rushed to purchase new home with borrowed money amid a record-low interest rate.
The Bank of Korea (BOK) raised its benchmark interest rate in November last year to 1.50 percent from an all-time low of 1.25 percent, marking the first rate hike in almost six and a half years. Since then, the central bank refrained from altering the policy rate.
The government unveiled a set of measures to control speculative investment in the real estate market, including a tightened standard for new mortgage loans.
Eleven million households possessed their own homes out of the total 19.67 million households as of Nov. 1, 2017, according to Statistics Korea.
The home ownership rate was 55.9 percent last year, up 0.4 percentage points from a year earlier. It indicated 44.1 percent of the households was houseless.
The still high houseless rate came as multiple homeowners increased. The number of those who owned more than two homes was 2,119,000 in 2017, up 140,000 from the previous year.
The number of people owning at least five homes gained 6,000 over the year to 115,000 in 2017.
The South Korean households had rushed to purchase new home with borrowed money amid a record-low interest rate.
The Bank of Korea (BOK) raised its benchmark interest rate in November last year to 1.50 percent from an all-time low of 1.25 percent, marking the first rate hike in almost six and a half years. Since then, the central bank refrained from altering the policy rate.
The government unveiled a set of measures to control speculative investment in the real estate market, including a tightened standard for new mortgage loans.
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