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The land price of Jeju lost its inertia as it recorded decrease by 1.77% last year, Jejusori on Moday reported quoting MoLIT(Ministry of Land, Infrastructure and Transport) statistics. Jejusori pointed out that this is the first turning back ever since 2008 as it also marked the only region in Korea.
According to the statistics, Seogwipo city resulted in negative by 1.81%, and Jeju city by 1.74%. Jeju has shown very steep increase of its land value after negative 0.02% in 2008.
It is analyzed that influx of population and tourists accompanied by the 2nd airport plan attributed to booming up the land price. But, a sharp decline of Chinese youkes(tourists) and investment because of THAAD conflict took a critical blow to the side.
The MoLIT told Jejusori "Investment and actual demands contracted as the 2nd airport development plan slowed down and people thought the land price reached its peak." and "Subsided purchase needs and investment demands from recession also made a contribution."
source=http://www.jejusori.net/news/articleView.html?idxno=311156
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