In 2023, the percentage of households in South Korea devoting more than 40% of their income to housing costs stood at 4.6%. From 2024 to 2028, this value is forecasted to increase progressively each year. Specifically, the year-on-year variations show a consistent rise of approximately 2.1% annually. This gradual increase results in a Compound Annual Growth Rate (CAGR) of around 2.1%, indicating a steady growth trend over the five-year forecast period.
Looking ahead, several future trends could influence these forecasts:
-Economic growth and its impact on household income distribution.
-Government policies aimed at housing affordability.
-Trends in housing supply and demand dynamics.
