SEOUL, July 17 (Xinhua) -- Land and housing took up more than three-fourths of South Korean households' assets in 2018 on higher property price, central bank data showed Wednesday.
Net assets, held by households and nonprofit organizations, amounted to 8,726.1 trillion won (7.4 trillion U.S. dollars) as of the end of 2018, according to the Bank of Korea (BOK).
Among the total, housing took up 50.5 percent, and the property, excluding housing, made up 25.7 percent.
It was attributable to higher property price. Prices for land and building advanced 7.6 percent and 8.2 percent each last year, surpassing a growth of 3.1 percent in the nominal gross domestic product (GDP).
Net financial assets, owned by households, recorded 22.2 percent of the total as of end-2018 amid the falling stock price.
Net assets per household was estimated at 415,960,000 won (352,600 U.S. dollars) at the end of 2018, up 16,640,000 won (14,100 U.S. dollars) from a year ago.
Meanwhile, the national net assets, which gauge the wealth of the entire country, reached 15,511.7 trillion won (13 trillion U.S. dollars) as of the end of 2018, up 8.2 percent from a year earlier.
Among the total, land and building accounted for 54.6 percent and 21.4 percent respectively.
