One of the busiest housing markets appears to be in one of the least likely places on Earth – or, at least, that is what its state-run media insists.
According to a Reuters report, the North Korean government held a ceremony yesterday following the completion of 10,000 new modern homes within the newly built Hwasong District of the capital city of Pyongyang. State-run media KCNA reported the nation’s leader, Kim Jong Un, and many government officials participated in the ceremony.
This is the second major housing story out of Pyongyang in two months. In February, Kim broke ground on a housing project described by the none-too-objective KCBA as “another luxurious street of socialism full of the people’s happiness.”
These projects are part of a 2021 initiative to build 50,000 new apartments in Pyongyang by 2026. Kim insisted this housing boom was a “top priority” by the Workers’ Party of Korea – also, the only political party in his country – and the leader insisted this new flurry of construction would make Pyongyang a “world-famous” city.
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