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[Monitor] Housing price polarization deepens

Housing polarization is rapidly deepening in South Korea, with the price gap between high and low-priced apartments widening to the highest levels in 10 years, latest data showed.

According to the monthly housing price trend released by Kookmin Bank, prices of low-cost apartments nationwide have fallen by 2.2 percent, or 2.5 million won ($2,069), while those of expensive apartments have risen by 15.5 percent, or more than 100 million won, over the past year.

Compared to two years ago, the gap has widened further as the price of high-priced apartments rose 28 percent while low-priced apartments fell 7.7 percent. 

By Shin Ji-hye (