South Korea to Tighten Real Estate Oversight, Target Foreign Speculation and Suspicious Trades
South Korea’s Real Estate Agency plans to strengthen property market supervision, with a focus on foreign speculative activity and transactions suspected of distorting prices.
The agency will compile new statistics on foreign home ownership and commercial property vacancy rates.
It will use big data and artificial intelligence to improve the accuracy of official property valuations and real estate statistics.
Market and transaction data will be analysed more closely to identify speculative activity and abnormal trading patterns.
The agency also plans to strengthen consumer protection, according to remarks by its head at the National Assembly on October 15, Yonhap reported.
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South Korea’s Real Estate Agency plans to strengthen property market supervision, with a focus on foreign speculative activity and transactions suspected of distorting prices.
The agency will compile new statistics on foreign home ownership and commercial property vacancy rates.
It will use big data and artificial intelligence to improve the accuracy of official property valuations and real estate statistics.
Market and transaction data will be analysed more closely to identify speculative activity and abnormal trading patterns.
The agency also plans to strengthen consumer protection, according to remarks by its head at the National Assembly on October 15, Yonhap reported.
$SKHY $KORU