SEOUL (Reuters) – South Korean President Yoon Suk Yeol said on Tuesday the country’s housing market was stabilising following his government’s swift unwinding of restrictions imposed under the previous administration.
“The housing market is stabilising as a result of (the government’s) swift promotion of measures to normalise anti-market (policies),” Yoon said during a televised opening speech at a cabinet meeting.
Official data showed on Monday that house prices fell for an 11th consecutive month in April but the pace of declines slowed on the back of deregulation measures introduced since Yoon took office in May last year.
(Reporting by Choonsik Yoo; Editing by Christopher Cushing and Kim Coghill)
