What Is the Construction and Real Estate Market Outlook for Next Year?… Geonsanyeon Hosts Expert Seminar
[Asia Economy Reporter Noh Kyung-jo] The Korea Research Institute for Construction Industry announced on the 24th that it will hold the "2023 Construction and Real Estate Market Outlook Seminar" on the afternoon of the 2nd of next month at the medium conference room on the 2nd floor of the Construction Hall in Gangnam-gu, Seoul.
Recently, the domestic economy has been experiencing a deterioration in the current account balance due to rising interest rates in response to high inflation and sluggish exports. As a result, the construction market is also increasingly likely to enter a recession.
However, construction orders, a leading indicator, have continued to rise recently, and construction performance, a coincident indicator, is also on an upward trend. The Korea Research Institute for Construction Industry stated that a careful analysis of the upcoming phase transition is necessary.
In particular, while the real estate market is seeing a decline in transaction volume and falling sale prices due to weakened buyer sentiment, the rise in monthly rent prices is clear, increasing the housing cost burden on tenants.
The seminar topics will be divided into construction and housing/real estate. Research Fellow Park Cheol-han will present the "2023 Construction Market Outlook," and Associate Research Fellow Kim Seong-hwan will explain the "2023 Housing and Real Estate Market Outlook."
After their presentations, a discussion will be held moderated by Cheon Hyun-sook, former Director of the Seoul Housing and Communities Corporation (SH Corporation) Urban Research Institute and current adjunct professor at Korea University. Real estate policy officials and industry experts plan to engage in in-depth discussions on diagnosing and responding to the construction and real estate market conditions for next year.
Hot Picks Today
"Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- While Samsung Falters, China Rises: "Chinese DRAM" Turns a Profit in Just One Year
- "That? It's Already Stashed" Nightlife Scene Crosses the Line [ChwiYak Nation] ③
- "Striking Will Lead to Regret": Hyundai-Kia Employees Speak Out... Uneasy Stares Toward Samsung Union
- "If You Booked This Month, You Almost Lost Out... Why You Should Wait Until 'This Day' Before Paying for Flight Tickets"
The seminar is open to anyone without prior registration. Materials can be downloaded from the Korea Research Institute for Construction Industry website on the day of the event.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
