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Capitalist property boom hits North Korea

Pyongyang, the capital of the North Korean dictatorship, is experiencing a property bubble.

While the £130,000 price-tag of the most expensive homes trading hands may not seem like much, it is impressive in country where the official monthly wage is £1 and private ownership of property is illegal.

It is believed that the bubble has resulted from wealthy North Koreans having nowhere else to put their money.

Times, 39

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