S.Korea apartment prices steady, ending 23-week rise

Published: 19 Nov 2009 23:07:53 PST

SEOUL, Nov 20 - Apartment prices across South Korea stayed steady this week, ending a 23-week gaining streak, while prices in the capital fell for the first time in eight months, the country's top lender said on Friday.

Apartment prices in Seoul area fell 0.1 percent from the previous week, the first decline since March, Kookmin Bank said in a report.

It also said that trading activity in Seoul remained sluggish, mainly because of government mortgage controls introduced in September, expectations for more new homes, and weak seasonal demand.

South Korea's central bank held rates at a record-low of 2.00 percent in early November for a ninth straight month, citing signs of moderation in the property market boom.