Expensive housing: People sit at a rooftop cafe as residential buildings stand in the background in Seoul. Home prices in Seoul have risen more than 50% since 2017, the fastest pace in the world. — Bloomberg
SEOUL: Even with unemployment spiking as the coronavirus pandemic swept South Korea in February, Baek Seung-min asked his wife to quit her nursing job to help reach a dream they had spent a lifetime chasing: buying their own apartment.
The 35-year-old interior designer said giving up his wife’s 58 million won (US$48,000) salary would improve their chances of securing a property after the government introduced a host of measures aimed at cooling rampant property prices.
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