S. Korea's Housing Market Sentiment Worsens In June

South Korean construction companies expected their business conditions to worsen this month compared with May due to the government regulations and increased supplies, a survey showed Wednesday.

SEOUL, (APP - UrduPoint / Pakistan Point News - 6th Jun, 2018 ) :South Korean construction companies expected their business conditions to worsen this month compared with May due to the government regulations and increased supplies, a survey showed Wednesday.

The housing business sentiment index (HBSI), based on a survey of about 500 companies, stood at 64 for June, shedding 8.1 points from the previous month, the Korea Housing Institute (KHI) said.

A reading below 100 means the number of companies forecasting worse business in the coming month is larger than the number expecting better times.

The institute said the government regulations on lending rules and property taxes, as well as the opening of new apartments are negative factors in the domestic housing market.

Industrial cities grappling with slumping businesses in the shipbuilding and auto sector, including Ulsan, Geoje and Gunsan, are also adding uncertainties to the market, the institute said.