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Korea’s property market is showing the most strain after China in the region, with prices in 2023 falling by the most in a quarter of a century after years of growth.
Photographer: SeongJoon Cho/Bloomberg
By Harry Suhartono and Finbarr Flynn
December 30, 2023 at 8:00 AM GMT+8
Surging interest rates and regulatory scrutiny are causing distress for builders and creditors in Asian economies from South Korea to Vietnam, highlighting the breadth of housing woes in a region overshadowed by China’s crisis.
While aggressive monetary tightening and the pandemic have had a more pronounced impact on commercial property in the US and Europe, it’s residential housing that is under more strain in Asia. One of the worst hit nations, Korea, saw the steepest home price slump in 25 years while a construction firm’s repayment struggle has rekindled fears of repeating the credit market turmoil in 2022.
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Real Estate Stress Is Brewing in Asian Markets Other Than China
- Surging rates plague South Korea, Indonesia and Hong Kong
- Vietnam hit by crackdown; some Aussie households under strain

Korea’s property market is showing the most strain after China in the region, with prices in 2023 falling by the most in a quarter of a century after years of growth.
Photographer: SeongJoon Cho/Bloomberg
By Harry Suhartono and Finbarr Flynn
December 30, 2023 at 8:00 AM GMT+8
Surging interest rates and regulatory scrutiny are causing distress for builders and creditors in Asian economies from South Korea to Vietnam, highlighting the breadth of housing woes in a region overshadowed by China’s crisis.
While aggressive monetary tightening and the pandemic have had a more pronounced impact on commercial property in the US and Europe, it’s residential housing that is under more strain in Asia. One of the worst hit nations, Korea, saw the steepest home price slump in 25 years while a construction firm’s repayment struggle has rekindled fears of repeating the credit market turmoil in 2022.
Have a confidential tip for our