SOUTH KOREA Apartments in sharp decline in SeoulHeavy signs of a slowdown for the South Korean residential market. A 112 m2 apartment in the financial district of Seoul sells for 915 thousand euros, 15% less than the highs reached in the first half of 2005. The cooling policy of the government and monetary authorities contributes to the heavy slowdown, with the Bank of Korea which last month raised interest rates for the fourth time, bringing them to 4.25 percent. UNITED STATES Prices still rising (+6%) The price run slows less than expected of existing homes in the United States. According to the National Realtors Association, in May the median price grew by 6% annually, reaching $230,000. The greatest growth (+6.4%) was recorded among single-family homes. CANADA For residential values up by 9.1% Prices of new homes in Canada increased in May: the increase was 1.3% monthly and 9.1% annually: this is the best performance from 1990 to today. The steepest increases occurred in the Alberta region.
source: IL SOLE 24 ORE
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