This paper studies the causal relationship between house prices and the access to bank lending in Kangnam, the hottest submarket in Seoul and four 'cold' markets which have shown relatively modest price increases. In response to the rapid escalation of house prices in Seoul, primarily in Kangnam...

We examine the behavior of broker quotes in Korean housing markets by comparing the Kookmin Bank apartment (a condominium in a high- rise residential building) price index, a broker quote based apartment price index, and a repeat sales apartment price index that we built using transaction...