Population Mobility Up 5.1 Pct In March

South Koreans who changed residences to a different region rose in March in tandem with the country's moving season, ending a downward trend caused by tightened regulations aimed at controlling housing price hikes, government data showed Wednesday.

SEJONG, (APP - UrduPoint / Pakistan Point News - 25th Apr, 2018 ) :South Koreans who changed residences to a different region rose in March in tandem with the country's moving season, ending a downward trend caused by tightened regulations aimed at controlling housing price hikes, government data showed Wednesday.

The number of people who moved to other regions in the country rose 5.1 percent last month from a year earlier to 708,000, according to the data compiled by Statistics Korea. The population mobility rate the number of those changing residences for every 100 people increased 0.

8 percentage point to 16.3.

Last year, the figure was the lowest in 43 years due largely to a rise in housing prices and rapid aging. Housing prices in Seoul rose sharply last year despite a series of measures to rein in surging prices, including tightened home mortgages.

The government's tightened regulations on mortgage loans, a bid to reduce household debt, affected population mobility last year, the statistics office said.