Seoul apartment transaction index rises for the first time in 5 months

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  • The Seoul apartment transaction price index turned upward for the first time in five months.

    The real transaction price index for apartment sales in Seoul in March announced by the Korea Real Estate Agency was 175.1, up 1.4 points (p) from February (173.7).

    The real transaction price index for apartment sales in Seoul recorded 180.0 in October last year, and then fell for four months in a row from November to February of this year.

    After the presidential election in early March, it is interpreted that the real transaction index also rose as the new government’s expectations for the easing of real estate regulations opened up trades.

    The index of the northeast area of ​​Seoul rose the most (4.4p) from 178.8 in February to 183.2 in March, and the downtown area (176.4) rose 2.1p from the previous month (174.3) due to the favorable news of the relocation of the presidential office to Yongsan.

    The northwest and southeast areas (Gangnam 4 districts) recorded 171.7 and 171.9, respectively, up 1.2p and 0.3p from the previous month, while the southwest area fell by 0.7p to 171.7, the only decline among the five Seoul districts.

    Gyeonggi-do’s apartment transaction index recorded 162.5, which also turned upward for the first time in five months, while Incheon recorded 149.4, down 0.6p from the previous month (150.1).

    The Seoul apartment sale price index in April is expected to rise 0.45% from the previous month even in the provisional index.

    However, the real estate agency explained that it remains to be seen whether the index actually rises as the recent decline in transactions has been increasing due to the implementation of the mid-term and temporary exclusion of the capital gains tax for multi-home owners.

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