Data show the annual increase in home prices in South Korea as a whole is actually fairly average compared to other countries, or even on the low side.
In its quarterly report on housing prices in 63 countries, the IMF says 45 countries saw an increase, including South Korea, but South Korea was only the 37th highest.
The biggest jump was in the Philippines, followed by Portugal, Latvia and Hungary.
The countries that saw the biggest decrease in home prices were Ukraine, Serbia, and Turkey.
However, because the index for South Korea covers the whole country, analysts say it doesn't reflect how much faster prices are rising in Seoul.