The volume of home transactions in South Korea jumped to the highest level in more than six years last month, buoyed by the government’s property market stimulus measures, data showed Sunday.
According to the data provided by the Ministry of Land, Infrastructure and Transport, a total of 129,907 homes were sold and bought in June, up 128.2 percent from the same month a year earlier.
The number is also up 44.1 percent from the previous month when 90,136 homes changed hands. The June figure marked the largest total since December 2006 when the number of home transactions came to 137,848.
The sharp growth in home transactions is attributable to stimulus measures being taken by the government to boost the prolonged sluggish local property market, the ministry said.
In April, it unveiled a set of such measures, including providing tax breaks for first-time home purchasers.
Home purchases spiked as many people also rushed to benefit from acquisition tax reduction before it expired late last month, experts said. (Yonhap News)
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