US EditionBusan’s Real Estate ‘Crisis’? Maybe It’s Just Bad Journalism
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Busan’s Real Estate ‘Crisis’? Maybe It’s Just Bad Journalism
BUSAN, South Korea — In Busan, headlines about an impending housing shortage have become an annual tradition. Local media warn of a “supply cliff” in the apartment market, pointing to declining construction starts, lagging permit approvals, and a shrinking pipeline of new residential units. Last year’s housing start figures hit a decade low—just 16,707 new units began construction, less than half the peak in 2017. Real estate experts caution tha…
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