Real Estate Prices Surge Along North Korea-Chinese Border
Seventy percent of goods entering North Korea from China pass along the China-Korea Friendship Bridge, an old, rickety track that runs along the border between the two countries. However, given the United Nations sanctions against North Korea for its nuclear weapons tests, the bridge’s traffic had subsided, and the neighboring cities’ economies had been dwindling.
But, things are looking up following the inter-Korean summit. There’s been a surge in the real estate along the Chinese border, as there’s optimism of trade opening back up. According to Bob Li, a real estate agent in Dadong, home prices in the city have jumped by more than 50 percent as investors from “Beijing, Wenzhou and all over northeast China” have been buying up property.
If trade routes open and all goes as intended, there’s a chance that new roads will be constructed to link Seoul to the Chinese city. While some still remain skeptical, President Trump’s meeting with Kim Jong Un could potentially change the status quo and continue to attract global real estate investment.
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