article authorized editor: Finance tide (ID: guide0929) Author: Chao brother
Korea is an interesting country, always create some jokes from time to time.
01
Xinhua News Agency reported on March 30 that Kim Yiqian, the spokesman of the Korean Presidential Office who took office last year, resigned yesterday due to suspected real estate speculation.
used his own money to purchase real estate reasonably and legally, but finally lost his job. Bangziguo should set a precedent. I can only sigh, the South Korean spokesperson is not easy to do.
During Park Geun-hye's tenure, Blue House spokesperson Yoon Chang-joong was dismissed for touching the buttocks of a female intern at the Korean Embassy in the United States. I lost it and went abroad.
This time, Jin Yiqian lost his job because of anger.
In 2016, Kim Yi-qian was the first to expose former South Korean President Park Geun-hye’s “girlfriends’ political work” and was reused by the South Korean government. He was promoted to the presidential office last year.
As the spokesperson of the presidential palace, Jin Yiqian spent 2.6 billion won (approximately 2.28 million yuan) in a residential building in Seoul, the capital of South Korea, in July last year, of which nearly half was a bank loan. If
changes to an ordinary person, there is no fault in legal principles. If you use your own money to buy a house for investment, the loan is also a formal and legal procedure, what can you sin?
In South Korea, where state-owned resources are not abundant, real estate speculation is a very offensive thing. Coupled with his identity, the spokesperson of the presidential palace, equivalent to the main hall level, can be regarded as a senior official. Real estate speculation in South Korea has been criticized, and high-ranking officials have committed public outrage.
02
South Korea has a land area of 100,000 square kilometers, a population of 51.4 million, and an average population density of 514 people per square kilometer. This density is not high. It is incomparable to any hotspot city in China, and it is even more like Shenzhen’s 10,000 people per square kilometer. It's incomparable.
But South Korea, like Japan, has completed urbanization. Most of the population in South Korea has been installed in the Seoul Metropolitan Area (Seoul, Incheon, Chuncheon, Sejong, etc.) and the Busan Metropolitan Area (Busan, Daegu, Ulsan, etc.). The data found by
shows that the population of the Seoul Metropolitan Area in 2018 was 23.575 million, ranking fourth in the world's metropolitan area, almost half of the population of South Korea, and the 2016 data of the Busan Metropolitan Area was 14 million.
In other words, most of the population of South Korea lives in these two circles. The housing prices in these two circles are the same as in our country, and they are not cheap. Driven by hot money, Korean housing prices also experienced a round of surge from 2009 to 2012, and then the pace slowed down, but the upward trend has not changed.
Seoul’s housing prices
Seoul and Busan’s housing prices
Picture source Baidu Tieba
It can be seen that the housing prices in Seoul are very high, and the housing prices in individual districts are also around 100,000 yuan per square meter. The north is one level deep.
The housing prices in Gyeonggi Province in the Seoul area are equivalent to Suzhou, Incheon is equivalent to Chengdu, Gangwon Province is equivalent to Changsha, Busan and Daegu are equivalent to Wuhan, and Ulsan is equivalent to Xi’an.
Of course, South Korea is a developed country with more per capita income than ours. Although housing prices are high, the pressure is less than ours. However, living resources in developed countries are also expensive, and the pressure on housing prices is not small.
According to public information:
According to data released by the Korea Statistics Office, the average monthly salary of an average Korean worker in 2017 was 3.35 million won (20552 yuan, 1 yuan = 163 won), and the average monthly working time was 182 hours. The average monthly income of families with more than one person is 4.4 million won (26994 yuan). Based on the current average house price of 49,506 yuan/㎡ in Seoul, ordinary working-class families in South Korea want to buy an 80-square-meter apartment in Seoul. It takes 12.23 years to spend nothing. In Gyeonggi-do, it will take 5.32 years, RenIt takes 4.19 years for Sichuan and 4.33 years for Busan.
In order to prevent house prices from rising, South Korea introduced strict control policies in 2017:
1. The South Korean government will tighten the mortgage limit, reducing it from 70% of the previous full price of loanable houses to 60%. In other words, the down payment needs to be increased from the original 30% to 40%.
2, some areas also limit the annual repayment amount not to exceed the 50% requirement of the housing buyer's annual income, while the previous limit is 60%.
3. In addition, the South Korean government will restrict the resale of newly-built apartments in Seoul and some areas of Busan until the property registration is completed to control speculative investment in these areas.
In the context of the government's severe crackdown on real estate speculation, Jin Yiqian, as the president's spokesperson, "came against the wind", looking for nothing. However, it can also be seen from its resignation that South Korea's suppression of price speculators is not a bluff.
03
What inspiration can this give us?
The difficulty of buying a house in hot cities in China is much higher than in South Korea. In Seoul, South Korea, where housing prices are the most expensive, it takes 12.3 years for working-class people to buy a house without food or drink, while it takes decades for Beijing, Shangshen, where housing prices are the most expensive.
The picture above is the latest house price-to-income ratio disclosed by E-House Research Institute. The so-called housing price-to-income ratio, as the name implies, is the ratio of housing prices to income, which is the total price of each household ÷ the total annual income of each household.
Shenzhen, which is at the top of the list, has a house price-to-income ratio of 34.2, which means that an ordinary family needs to buy a standard-sized house in Shenzhen, which can only be completed in 34.2 years without eating or drinking. Sanya needs 30 years, Shanghai needs 26 years, and Beijing needs 25 years.
The reasonable range of price-to-income ratio stipulated internationally is 3-6, and all 50 typical cities in China exceed the reasonable range. From this point of view, China needs stricter policies than South Korea to crack down on real estate speculators.
