[Monitor] Home transactions in metropolitan areas plunge

Home transactions in Seoul and Gyeonggi Province have plunged over the last three months, after the government introduced strict measures to stabilize real estate prices, including tax hikes and loan regulations, data showed Sunday.

The number of apartment transactions in Seoul dropped to 1,923 in August from 15,589 in June, while that of Gyeonggi Province too decreased to 7,117 in August, from 34,899 in June.

The housing prices, which the government aimed to rein in, remained flat. As of Aug. 24, housing prices in Seoul and Gyeonggi Province increased by 0.01 percent and 0.22 percent, respectively, from a week earlier.

By Shim Woo-hyun (ws@heraldcorp.com)