The Main Problems of the Real Estate Market Functioning in the Republic of Korea

Abstract

The article examines the problems of the functioning of the real estate market of this country on the basis of official data of the Statistical Bureau, the Civil and Housing Codes of the Republic of Korea. The paper considers the features of state regulation of ownership of real estate. The calculation of the level of urbanization and the coefficient of specialization according to the level of development of the real estate market of the regions of the Republic of Korea is carried out. The indicators characterizing the availability of real estate are presented, as well as the rating of regions by the level of development of the real estate market. The main problems include: the high cost of real estate, the low percentage of the population owning real estate, large regional differences in the level of development of the real estate market, identified regions where the purchase or rental of real estate is disproportionate to the income received. The article includes author’s maps illustrating the results of the study.