SKY-ROCKETING HOUSING PRICES TO BE DOWNSIZED IN SOUTH KOREA

• Amidst sky-rocketing residential housing prices, a most topical price ceiling system for privately built apartments will be reintroduced on Wednesday.
• The presale price ceiling system will be introduced on a total of 322 areas in 18 districts in Seoul and three cities in Gyeonggi Province.

The price cap is anticipated to reduce residential apartment prices in the denoted areas by five to ten percent. <....