This is the biggest reason why people are desperate to live in Seoul..
If you can somehow manage to buy an apartment, the value will skyrocket...
As has been proven over time, if you hold out in Seoul and manage to buy an apartment, it is possible to massively inflate your assets.!!!
There are various excuses like human resources, cultural life, amenities, and medical facilities... but those are secondary.
The main reason is that you have to hold out in Seoul to create a gap in real estate assets..
In conclusion, as long as the real estate asset polarization between Seoul and the provinces continues—that is, as long as Seoul housing prices rise more—the concentration in the metropolitan area
is unavoidable.
Conversely.. what if Seoul housing prices keep falling, or are only expected to stay at a weak/stable level?? (For the next few decades?)
-> All those good things like human resources, cultural life, and amenities won't matter. Many people will leave Seoul.
** One-line summary ** : Rather than living in Seoul because the cultural, human, and convenience infrastructure is good, people live in Seoul to buy an apartment because housing prices rise, or they buy one and hold out.
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