Property prices in Korea, Indonesia current account

Rising property prices in Korea are increasingly rapidly again, but there is a little sign of a bubble forming. Affordability has gradually improved across the country in recent years. Even in Seoul, affordability is roughly in line with its long-run average. Indonesia recorded a rate current account surplus in the third quarter of the year. Given the country normally faces perennial balance of payments strains, a surplus would normally be welcome. In this case though, the surplus is mainly the result of a collapse in import demand caused by the weakness of the domestic economy – not something to celebrate.