The nationwide outlook for the dwellings market targeted at housing business operators has risen for three consecutive months. It is analyzed that the rise in housing prices has spread to major areas in the metropolitan area following the lifting of the land transaction permission zone and that expectations for interest rate cuts have influenced this.
According to the Housing Industry Research Institute's announcement on the 15th regarding the 'April Dwellings Business Outlook Index,' the national index rose 11.5 points from the previous month to 85.5. An index above the baseline of 100 indicates that a higher percentage of companies expect the dwellings market to improve, while a figure below 100 denotes the opposite. The index has increased for three consecutive months since February of this year.
By region, the metropolitan area is forecasted to rise by 18.8 points to 84.2. Seoul recorded 97.6, up 18.6 points from the previous month, with Gyeonggi (60.5 to 80.0) and Incheon (56.6 to 75.0) also rising.
In non-metropolitan areas, the index rose in all regions except for Daejeon, Gangwon, and Chungnam. It is forecasted to rise by 9.9 points to 85.8.
By region, Ulsan experienced the largest increase, rising 29.5 points to 100 from 70.5 last month. Busan (66.6 to 81.8), Gwangju (58.8 to 70.5), Sejong (73.3 to 100), and Chungbuk (88.8 to 100) also saw increases. In contrast, Daejeon (94.1 to 88.2) and Gangwon (88.8 to 83.3) declined, while Chungnam remained the same at 92.8.
The Housing Industry Research Institute noted, "The rise in housing prices, which began in the three districts of Gangnam due to the lifting of the land transaction permission system last month, has spread to major areas in the metropolitan area, resulting in increased apartment transaction volume. Additionally, expectations for interest rate cuts seem to have had a positive impact on the sentiment of business operators."
The Housing Industry Research Institute added, "The market is rapidly cooling due to the reassignment of the land transaction permission zone, which has been expanded to neighboring areas since the 24th of last month. We will need to observe whether these positive projections will continue."