The nationwide house price index fell 0.78% in March from the previous month, slower than 1.15% in February and the slowest since October, according to the Korea Real Estate Board. The pace of decline slowed for a third consecutive month, after hitting 1.98% in December, which was the steepest on record since the data series began in late 2003.
The board said the pace eased in March due to a decrease in
urgent sales and optimism over deregulation in the greater area
of the capital Seoul.
South Korea's house prices have been falling for every month
since June last year due to the central bank's aggressive
interest rate hikes. The government, meanwhile, is trying to
avert a hard landing, such as loosening financial regulations
for homebuyers.
(Reporting by Jihoon Lee; Editing by Jacqueline Wong)
