Debt repayments will be limited to 50 % of home buyers' annual income in those selected regions, down from current 60 %, it said
In Yongin, a satellite city south of Seoul, orange construction cranes are racing to build gleaming new high-rises, but realtor Kim Woong-jib says he is pointing would-be apartment buyers to older buildings.
The city of a million people has 5,301 unsold new residential units, government data shows, the most in South Korea and a symptom of a growing housing glut that is worrying policymakers.
The Kookmin Bank data showed its composite housing transaction price index rose 0.34 percent in October from August, less than a 0.47 percent gain in September and the slowest increase since February's 0.23 percent increase.
House prices in South Korea rose for a 23rd consecutive month in July over June, bringing their annual growth to the highest in more than three years, data from a top local mortgage lender showed on Friday.
Kookmin Bank's composite housing purchase price index rose 0.42 per cent in July over the previous month and by 3.67 per cent from a year earlier.
The Lotte World Tower, when completed, will be Seoul’s first supertall skyscraper. But Koreans have become concerned over a string of accidents at the project, including three construction worker fatalities.