Koreans are now speculating in cryptocurrencies instead of real estate. More and more young Koreans are not buying houses anymore, and they stay at home every day speculating in Bitcoin and virtual currencies.
Early in the morning, I checked the housing prices and commodity prices in Jeju City. There are very few real estate agencies here, and it was hard to find one. I guess they all buy and rent houses online. The two-bedroom apartments here are 80-100 square meters, and the housing prices are about 1.5-2 million, while the villa prices are between 3-5 million. Renting here is not friendly to tenants because they have to pay a large deposit, so Koreans are willing to buy their own houses. The prices in supermarkets are also more expensive than in China, with vegetables expensive and meat cheap, but pork and chicken are indeed cheap, only about ten yuan per catty.
