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Apartment Sales Price Trends in South Korea: A City-by-City Analysis

Rate of change in apartment sales price index by city/city / Data = Korea Real Estate Agency

[시사저널e=노경은 기자] Apartment prices in Seoul have risen for six consecutive weeks. There was still a large gap between selling and buying prices, so prices remained mixed, but prices rose mainly in favored complexes in some regions. Jeonse prices continued to rise for 50 consecutive weeks due to a shortage of listings.

As a result of a survey by the Korea Real Estate Board on the 4th of the national weekly apartment price trend in the fifth week of April (on the 29th of last month), the selling price decreased by 0.02% and the jeonse price increased by 0.02% .

Weekly apartment sales prices across the country continued to fall last week (-0.02%). The metropolitan area (0.00% →-0.01%) declined, Seoul (0.03% → 0.03%) refused to maintain the increase, and the decline widened in regional areas (-0.03% →-0.04%).

Sales prices in Seoul rose 0.03%. By autonomous region, in Gangbuk region, Nowon-gu (-0.02%) and Jongno-gu (-0.02%) showed a wait-and-see attitude and fell, but Seongdong-gu (0.15%), Mapo-gu ( 0.08%), and Jung-gu (0.05%) rose. In the Gangnam area, Yeongdeungpo-gu (0.07%), Dongjak-gu (0.07%), Seocho-gu (0.05%), Gangnam-gu (0.05%), and Yangcheon-gu (0.05%) were recorded to have increased.

Incheon turned up from flat a week ago to 0.02% this week, and the economy fell 0.03%, maintaining the rate of decline from a week ago.

In regional areas, the five largest metropolitan cities decreased by 0.04%, and Sejong and eight provinces decreased by 0.29% and 0.02%, respectively.

National weekly flat rental prices maintained their increase last week (0.02%). The increase was maintained in the metropolitan area (0.07% → 0.07%) and Seoul (0.07% → 0.07%), and the decline was reduced in regional areas (-0.02% → -0.01%).

Seoul has been up for 50 weeks. Continuing from last week, the rate of rise was maintained at 0.07%.

An official from the Real Estate Institute said, “The upward trend continued with a shortage of properties for sale, such as constant demand for rentals mainly in small-scale areas and subway areas with good settlement conditions and relatively high preference, and upward transactions in be maintained. over.”

In the 14 Gangbuk districts, Seongdong-gu (0.15%), Nowon-gu (0.12%), Gwangjin-gu (0.11%), and Gangbuk-gu (0.11%) increased, while in the Gangnam 11 district, Geumcheon-gu ( 0.09%), Gangseo-gu (0.08%), and Dongjak-gu (0.08%) %) and Seocho-gu (0.08%) have risen.

Incheon rose 0.10%, and Gyeonggi rose 0.05%, a decrease in the increase compared to last week (0.06%).

In regional areas, the five largest metropolitan cities showed a flat rate, with Sejong falling 0.24% and eight provinces falling 0.02%.

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