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"But the real work would have to be done bilaterally between Washington and Pyongyang," he added.

"But now, for many buyers, affordability is the only factor for decision-making. Some of those upgrading are dropping their plan simply because they can't afford to make higher down payment. Also, some buyers who wished to sell their first home and then buy a second one are hesitant because they are not sure if the family income will be stable and steady enough to cover the monthly installments related to a more spacious home," said Ma.

"China has had a good comeback," Bernard Arnault, LVMH's billionaire chairman and chief executive, told a news conference on Thursday, adding other regions including the United States also performed strongly. "These global business trends are continuing into this year," he said.

"China is sharpening its focus on environmental protection and improved productivity through automation. This offers a unique opportunity for us, " Ko said in a recent interview.

"But the move is never meant to allow the real estate sector to experience fluctuations. Instead, only when housing prices stand at a reasonable level can migrant workers really settle down in cities," Cai said.