Price of Industrial Real Estate Rising

A valve maker at Shihwa Industrial Complex in Kyonggi Province recently tried to enlarge its site but had to give up due to expensive real estate prices. One particular building the company planned on purchasing costs 500,000 dollars.
Factory sites have been rising steeply, and
although this kind of phenomenon is for the most part limited within metropolitan areas, it is spreading to further places as the economy heats up.
One space at the Ansan Industrial Complex now costs 200 dollars per month, which is the same price before the economic crisis. In particular, electronics, information and communications, and mechanics are eager to find factory space in metropolitan areas.
Industrial sites at Namdong, Shihwa, and Changwon have no room left to lease.
Kang Ku Ho, a real estate agent, said, 'From March, three to four clients visit my office everyday, and the price of spaces has risen 40 percent.'
Hwashik Bong : trojans@joongang.co.kr