Market goes nowhere

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Market goes nowhere

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Market goes nowhere - Visitors look at miniatures of apartments in Wangsimni, eastern Seoul, yesterday at a model house in Garwol-dong, central Seoul. The Korea Appraisal Board (KAB) said yesterday that real estate prices dropped an average of 0.13 percent, while jeonse prices (lump-sum deposits in lieu of rent) increased 0.42 percent in August compared with July. The government last week unveiled another real estate plan that includes low-interest mortgage programs and some tax cuts to boost house sales and put a lid on jeonse prices. As of the end of August, jeonse prices were 60.9 percent of retail prices of housing units, up 0.3 percentage point from July, the KAB said. [NEWSIS]

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