Real estate values drop at inter-Korean border as hopes for peace diminish



News Real estate values drop at inter-Korean border as hopes for peace diminish Investors rushed to snap up property when North and South Korea were on good terms. But then the bubble burst. Won-Gi Jung May 28, 2021 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON NK News \| Photo: Jo Byung-ouk, a real estate agent in Paju's border region, standing in front of the map of Paju's border region. There are few markets in South Korea more competitive than real estate. So in 2018, at the apex of President Moon Jae-in’s outreach campaign to North Korea, many saw this as an opportunity to invest in property near the inter-Korean border. Jo Byung-ouk, a long-time real estate agent specializing in the area, said he had never seen anything like it in his 18-year career. There are few markets in South Korea more competitive than real estate. So in 2018, at the apex of President Moon Jae-in’s outreach campaign to North Korea, many saw this as an opportunity to invest in property near the inter-Korean border. Jo Byung-ouk, a long-time real estate agent specializing in the area, said he had never seen anything like it in his 18-year career. Become a member for less than $5.75 per week. Unlimited access to all of NK News: reporting, investigations, analysis The NK News Daily Update, an email newsletter to keep you in the loop Searchable archive of all content, photo galleries, special columns Contact NK News reporters with tips or requests for reporting Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts. Subscribe now All major cards accepted. No commitments – you can cancel any time. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

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Real estate values drop at inter-Korean border as hopes for peace diminish

Investors rushed to snap up property when North and South Korea were on good terms. But then the bubble burst.

Won-Gi Jung May 28, 2021

Real estate values drop at inter-Korean border as hopes for peace diminish

NK News | Photo: Jo Byung-ouk, a real estate agent in Paju's border region, standing in front of the map of Paju's border region.

There are few markets in South Korea more competitive than real estate. So in 2018, at the apex of President Moon Jae-in’s outreach campaign to North Korea, many saw this as an opportunity to invest in property near the inter-Korean border.

Jo Byung-ouk, a long-time real estate agent specializing in the area, said he had never seen anything like it in his 18-year career.

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