The national apartment prices have shown a downward trend for nine consecutive weeks. The apartment prices in Seoul have remained unchanged for the third week.
According to the Korea Real Estate Board on the 16th, nationwide apartment prices for the second week of January (as of Jan. 13) fell 0.04% compared to the previous week. The decline was larger compared to the previous week's decline of -0.03%.
In Seoul, apartment prices recorded three consecutive weeks of no change (0%) until the previous week. By district, Guro District (-0.04%) saw a decline primarily in Guro and Gaebong-dong, while Dongjak District (-0.03%) saw a decline mainly in Sadang and Sangdo-dong. However, Songpa District (0.04%) rose mainly in Jamsil and Songpa-dong, Seocho District (0.02%) rose mainly in Banpo and Jamwon-dong, and Gangseo District (0.01%) rose primarily in Yeomchang and Deungchon-dong near subway stations.
In the northern part of the city, Yongsan District (0.04%) rose mainly in Sancheson and Ichon-dong, Jung District (0.02%) rose mainly in Shindang-dong's major complexes, and Gwangjin District (0.02%) rose mainly in preferred complexes in Gwangjang and Jayang-dong. However, Dobong District (-0.04%) saw a decrease mainly in Banghak and Chang-dong old complexes, and Jungnang District (-0.04%) fell mainly in Myeonmok and Shinnae-dong.
The Korea Real Estate Board noted, "Although cases of record-high prices have been detected in some preferred complexes, such as reconstruction complexes, in other complexes, the wait-and-see attitude from buyers continues, and prices are being downwardly adjusted, leading to mixed trends of increases and decreases by region and complex, resulting in overall stability in Seoul."
In the metropolitan area, prices fell 0.03% this week, widening the decline compared to the previous week's drop of -0.02%. The provinces fell 0.05%, maintaining last week's decline. Gyeonggi Province saw a decrease of 0.04%, keeping the previous week's decline stable. Incheon decreased by 0.06% this week, reducing the decline compared to the previous week's drop of -0.07%.
In Gyeonggi Province, Anyang Dongan District (0.07%) and Gwacheon (0.05%) experienced an upward trend, while Gwangju (-0.26%), Pyeongtaek (-0.20%), and Gwangmyeong (-0.17%) showed declining trends. In Incheon, Gyeyang District (-0.11%), Namdong District (-0.09%), Yeonsu District (-0.08%), Jung District (-0.06%), and Seo District (-0.05%) also exhibited downturns.
The nationwide apartment rental prices fell 0.01%, transitioning from a stable state (0%) in the previous week to a decline. The metropolitan area (0.00%→-0.01%) shifted to a decline, while Seoul (-0.01%→0.00%) transitioned from a decrease to stability. The provinces (0.00%→-0.01%) shifted to a decline.
The Korea Real Estate Board explained, "Although transactions at a loss occurred in some outer districts and old complexes, rental prices increased in preferred complexes, such as new buildings and those near subway stations, reflecting a mixed trend in Seoul as a whole, leading to a shift from decline to stability."