Huge Proportion of Assets Tied Up in Real Estate
News

Huge Proportion of Assets Tied Up in Real Estate

Real estate holdings accounted for a whopping 74 percent of net household assets here as of last year, according to the Bank of Korea on Wednesday. In the U.S., U.K. and Japan the ratio stands at only between 35 to 55 percent.

The BOK said the total national wealth stood at W13.1 quadrillion as of the end of 2016, up 5.8 percent from the previous year (US$1=W1,127).

Of that, household net assets stood at W7.54 quadrillion, state assets at W3.54 quadrillion, non-financial corporations at W1.72 quadrillion and financial corporations at W275.6 trillion.

And among household assets, real estate holdings including homes, commercial buildings and land were W5.58 quadrillion, 74 percent of the total.

Source:english.chosun.com/si…