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BOK's rate cut unlikely to heat up housing market: Experts

BOK's rate cut unlikely to heat up housing market: Experts
금리인하, 부동산영향은... "정부규제로 영향 제한적"The BOK's rate cut also raised concerns about how that decision could impact Korea's overheating property market.Choi Si-young turned to some experts for their take on the matter.An interest rate cut by the central bank usually drives up the real estate market... as people tend to invest in safe havens.Some experts say however, that may not be the case this time."The rate cut was largely expected, meaning people looking to invest have already put their money into the housing market. The South Korean government has also rolled out many tough regulations, especially on home loans."He went on to say it won't be easy to increase the supply of new housing under the stricter set of government regulations,... including those pertaining to construction permits.Also, given the ongoing trade row between South Korea and Japan over Tokyo's export curbs,... the local housing market isn't likely to be immune to the grim state of the local economy.Other experts share that same view as well."The rate cut by 25 basis points isn't enough to invigorate the sluggish local economy."Amid such growing economic uncertainties, the price of gold in South Korea reached a record high,... as more investors snapped up the precious metal.And local banks are widely expected to cut their lending rates... in line with the BOK.Choi Si-young, Arirang News.

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