On March 15, the Korea Real Estate Agency (Director Tae-Rak Son) announced the results of the February 2023 nationwide house price trend survey.
The monthly comprehensive house sales price nationwide was -1.15%, a decrease from the previous month (-1.49%). In the metropolitan area (-1.86% → -1.38%), Seoul (-1.25% → -0.80%), and provinces (-1.15% → -0.93%), the decline decreased (5 major metropolitan cities (-1.64% → ) -1.42%), 8 provinces (-0.77% → -0.57%) and Sejong (-4.14% → -2.94%)).
In the case of the metropolitan area, the decline is mainly focused on large-scale construction in Seoul, new cities such as Hanam, Suwon, and Hwaseong in Gyeonggi, and the construction of large-scale complexes in Gyeyang, Bupyeong, and Yeonsu-gu . There was an upward trend, with a reduction in the rate of decline compared to the previous month.
Of the 14 districts in Gangbuk, Seoul, Dobong-gu (-0.99%) mainly Dobong and Ssangmun-dong, and Dongdaemun-gu (-0.90%) continued downward pressure due to the influence of Sangbong Construction supply volume, Shinnae, and Junghwa-dong, which mainly trades for quick sales, mainly small and medium-sized apartments, and Gwangjin-gu (-0.82%) showed a downward trend mainly in large complexes in Gwangjang, Jayang, and Guui-dong.
Among the 11 districts in Gangnam, Seoul, Geumcheon-gu (-1.35%) is mainly in Siheung and Doksan-dong, where decline is underway. Gangdong-gu (-1.03%) mainly fell in large complexes in Gangil , Myeongil, Cheonho, and Sangil-dong.
In the states, the wait-and-see attitude continued mainly in areas affected by the volume of supply. Daegu (-1.74%) mainly Dalseo-gu and Dalseong-gun, Busan (-1.48%) mainly Haeundae-gu and Gijang-gun, Gyeongnam (-0.74%) mainly Yangsan and Geoje-si, and Chungbuk (- 0.74%) mainly Cheongju and Heungdeok-gu
The national monthly comprehensive housing jeonse price was -1.80%, a decrease from the previous month (-2.29%). In the metropolitan area (-3.23% → -2.48%), Seoul (-2.95% → -2.16%) and provinces (-1.40% → -1.17%), the extent of the decline narrowed (5 major metropolitan cities (-2.14%) → -1.88%), 8 provinces (-0.87% → -0.69%) and Sejong (-4.22% → -2.92%)).
In the metropolitan area, the downward trend continues due to a backlog of sales as supply increases, but the decline moderated slightly compared to the previous month as the sales with a large decline came to an end. Seoul (-2.16%) is mainly in nearby areas where the supply increased, Gyeonggi (-2.81%) is in Ilsanseo-gu, Seongnam, Bundang-gu, Hanam-si, etc. in Goyang, and Incheon (-1.99 %) in Yeonsu, Bupyeong, Jung-gu, etc. The backlog spread and decreased.
Out of the 14 districts in Gangbuk, Seoul, Seongdong-gu (-2.99%) mainly focused on Eungbong / Kumho / Oksu / Sangwangsimni-dong, Noon-gu (-2.45%) focused on small complexes and medium in Junggye / Sanggye/Hagye-dong, and Dobong-gu (-1.99%) focused on Chang/Dobong/Sangwangsimni-dong. Based on Banghak-dong, Yongsan-gu (-1.77%) showed a downward trend in mainly in Hangang-ro, Ichon , Itaewon, and Dongbingo-dong.
Among the 11 districts in Gangnam in Seoul, Gangnam-gu (-3.86%) is mainly in Apgujeong/Ilwon/Suseo/Daechi/Gaepo-dong, Dongjak-gu (-3.32%) is affected by the volume moving to in, and congestion. -3.05%) focuses on construction in Yeouido, Dangsan, Yeongdeungpo, and Mullae-dong, where congestion is intensifying, and Yangcheon-gu (-2.87%) continues to decline, focusing on large-scale large complexes in Sinjeong and Mok-dong.
In the case of provincial areas, there was a backlog of sales, mainly in areas with a large number of new move-ins. Daegu (-2.28%) fell mainly in Dalseo-gu and Dalseong-gun, Busan (-2.01%) mainly in Nam and Haeundae-gu, and Gyeongnam (-1.05%) mainly in Yangsan-si and Changwon Seongsan- gu.
The national comprehensive monthly rental price for houses was -0.29%, falling slightly on the decrease from the previous month (-0.33%). In the metropolitan area (-0.51% → -0.44%), the decline narrowed, but in Seoul (-0.33% → -0.33%) and provinces (-0.16% → -0.16%), the decline was maintained (5 major metropolitan cities (-0.27% → 0.33%)) %), 8 provinces (-0.08%→-0.05%), and Sejong (-0.41%→-0.17%)).
In the metropolitan area, the preference for monthly rent is decreasing due to the expectation that additional interest rate increases will be limited and the continued decline in jeonse prices, and sales are increasing.‧Incheon (-0.27%) showed a downward trend mainly in Jung , Seo, and Yeonsu-gu, respectively.
Among the 14 districts in Gangbuk, Seoul, Seongdong-gu (-0.44%) is centered on large complexes in Geumho, Oksu, and Seongsu-dong, Dongdaemun-gu (-0.33%) is mainly in Jeonnong, Dapsimni , Imun, and Cheongnyangni-dong, and Jungnang-gu (-0.27%) focus on Sinnae, Sangbong, and Myeonmok-dong. In Eunpyeong-gu (-0.21%), Nokbeon, Bulgwang, Jingwan, and Eungam showed- dong downward trend.
In the 11 districts of Gangnam, Seoul, the Gangnam district declined along with the jeonse due to the result of the volume moving in, it decreased by 0.92%) mainly in Gaepo, Daechi, Suseo, and Dogok-dong, and in Yeongdeungpo- gu (-0.69%), mainly in Yeouido and Yeongdeungpo-dong.
In the case of provinces, Daegu (-0.60%) was mainly Dalseo-gu and Dalseong-gun, and Busan (-0.29%) was mainly Gijang-gun and Suyeong-gu. Sejong (-0.17%) and Jeonnam (-0.13%) fell mainly in Naju and Suncheon, with a slight decrease compared to the previous month.
Meanwhile, detailed data on housing price trends can be checked through the real estate statistics information system of the Real Estate Agency R-ONE (www.reb.or.kr/r-one) or the Korea Real Estate Agency’s real estate information app (smartphone ).