South Korea housing transactions jump in January

SEOUL, Feb 13 (Reuters): Home transactions in South Korea surged in January both over a year earlier and over the five-year average, the land ministry said on Thursday, adding this underscored growing optimism for the property market.

The ministry reported 58,846 home transactions last month, more than double the number of cases in the same month of 2013 and up 36.6 per cent from an average of 43,085 cases for January over the past five years.

Housing price data released last month by the country's top retail bank, Kookmin Bank, also showed South Korea's property market was seeing a steady recovery in line with the improving economic conditions.