South Korea’s property market extended its rally to a 34th week as the pace of gains accelerated despite government steps meant to cool prices, complicating the central bank’s case to lower borrowing costs to aid the economy.
Seoul apartment prices rose 0.19% in the week ended Sept. 22 after gaining 0.12% the previous week, Korea Real Estate Board data showed Thursday. The advance in prices underscores resilient demand despite tighter rules on mortgages.