July 31, 2021
Real Estate

Koreans still prefer real estate investment: data

Apartment complexes in Seoul (Yonhap)

South Koreans’ preference for nonfinancial assets such as real estate is still high compared to other major economies, but their investment in stocks has increased during the pandemic, data showed Monday.

As of end-2019, the proportion of financial assets in the wealth of Koreans was 35.6 percent, significantly lower than those in the US (71.9 percent), Japan (62.1 percent), UK (54.8 percent) and Australia (43 percent), according to data compiled by Korea Financial Investment Association.

Reliance on nonfinancial assets by Koreans stood at 64.4 percent, followed by Australians with 57 percent. Americans and Japanese held 28.1 percent and 37.9 percent, respectively, of their assets in nonfinancial properties, the data showed.

While Korea’s nominal gross domestic product stood at 1,924.5 trillion won ($1.7 trillion), its household wealth…

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