In defiance of a recent series of government measures the real estate market has been frozen this year. Trading of houses shrank remarkably, pushing down prices further. According to the Land, Transport and Maritime Affairs Ministry, the number of apartments traded across the country in May dropped to 48,077 cases, down 13.5 percent from the previous month. Apartment tradings in Seoul also reduced by 20 percent to 3,805 cases.
Contrary to the downturn in prices of apartments and other types of homes, the key money for home leasing and monthly house rents kept on rising.and Kia Motors Corp.