The national housing prices have continued to decline for two consecutive months. As housing prices in the metropolitan area entered a downturn, the national decline expanded.
According to the 'January Nationwide Housing Price Trend Survey Results' announced by the Korea Real Estate Board on the 17th, the comprehensive housing transaction price in January, including APT. and other dwellings, decreased by 0.1% compared to a month earlier. The decline has expanded from 0.07% in the previous month.
The metropolitan area (0.00%→-0.06%) transitioned from stable to decline, while Seoul (0.08%→0.04%) experienced a reduction in its growth rate, and regional areas (-0.14%→-0.14%) maintained their decline.
In individual areas of Seoul, Guro District (-0.07%) declined mainly in Guro and Gaebong-dong, and Dongjak District (-0.04%) saw a decline focused on Sadang and Heukseok-dong, while Songpa District (0.22%) rose primarily in Jamsil and Sincheon-dong, Seocho District (0.15%) increased based on Banpo and Seocho-dong preferred complexes, and Yeongdeungpo District (0.08%) rose mainly in Yeongdeungpo and Singil-dong.
In the northern region, Nowon District (-0.09%) fell mainly in Sangbo and Hagae-dong, and Dobong District (-0.04%) declined mainly in Banghak and Chang-dong, while Yongsan District (0.17%) rose primarily in Ichon and Hannam-dong, Gwangjin District (0.14%) saw an increase focused on Gwangjang and Jayang-dong with favorable residential conditions, and Seongdong District (0.10%) rose mainly in major complexes in Geumho and Seongsu-dong.
Gyeonggi Province decreased by 0.08%, transitioning from stable to decline compared to the previous month, and Incheon dropped by 0.23%, reducing its decline compared to the previous month (-0.23%).
The Korea Real Estate Board noted, 'While there remains sustained preference for reconstruction and major complexes in Seoul and the metropolitan area, the nationwide wait-and-see sentiment is expanding due to factors such as national lending restrictions.' It explained that 'In Seoul and the metropolitan area, there are mixed regions showing strong purchasing power and regions where demand is shrinking, while in regional areas, the decline has expanded primarily in areas affected by the influx of housing supply and older complexes.'
Nationwide jeonse prices declined by 0.02%, transitioning from an increase of 0.01% from the previous month. The metropolitan area (0.03%→-0.02%) transitioned from an increase to a decline, Seoul (0.02%→0.00%) shifted from an increase to stability, and regional areas (-0.01%→-0.02%) saw an expanded decline.
Nationwide monthly rental prices rose by 0.08%, reducing the growth compared to a 0.1% increase in the previous month. The metropolitan area (0.15%→0.13%) saw a reduction in growth, Seoul (0.10%→0.10%) maintained its growth, and regional areas (0.05%→0.04%) saw a reduction in growth.
The Korea Real Estate Board stated, 'Jeonse and monthly rent are showing localized increases mainly in preferred areas due to rising demand for leases before the new school semester,' but added, 'However, due to accumulated housing supply, worsening lending conditions, and decreased preference in areas with aging complexes, jeonse has transitioned to a decline, while the increase in monthly rent has decreased.'