In 2023, the Housing Household Expenditure in South Korea stood at 12.75% of household income. Forecasts from 2024 to 2028 indicate a steady, albeit slight, decline in this expenditure. Year-on-year variations show a decreasing trend with a drop of approximately 0.01 percentage points annually. The Compound Annual Growth Rate (CAGR) over the next five years is -0.74%, which highlights a consistent reduction in household spending on housing.
Future trends to watch for:
- Impact of government housing policies and subsidies on household expenditure.
- Fluctuations in real estate market prices and interest rates.
- Shifts in household income and spending priorities due to economic conditions.