Housing in South Korea

Depending on the roof material, there are several types of hanok, such as giwajip, chogajip, gulpijip, cheongseokjip, and neowajip.

[3] South Korea's housing market grew as central bank interest rates were cut at the beginning of the coronavirus pandemic.

During this period, many prospective homeowners sought loans at lower interest rates to buy homes.

Since then, rising central bank interest rates have led to a noticeable downturn in the housing market.

Yoon Suk Yeol's new government entered 2022 and achieved some stability in housing prices in the first month of the following year, but the problem has intensified due to its economic feasibility and the occurrence of a jeonse frauds case.