The Ministry of Finance reported that the median home price was 0.6%
lower in December 2010 than in November, and was 7.4% lower than in
The Central Bureau of Statistics, in contrast, has
reported consistently rising home prices in its monthly resident-owned
The Ministry of Finance asserted that the increase in purchases of
apartments for investment was due to the rise in the purchase tax on
investors, which came into effect in January. Investors therefore
brought forward purchases to avoid the higher tax rate.