As the hoped selling prices rise mainly in reconstruction complexes, it has been found that apartment prices in Seoul continue to rise. In particular, Gangnam's three districts (Gangnam, Seocho, Songpa) and Yongsan, which were expected to decline due to the reassignment of land transaction permit zones, are still showing strong trends.
According to the Korea Real Estate Board on the 9th, apartment prices nationwide fell by 0.01% in the first week of May (as of May 5), narrowing the decline compared to the previous week (-0.02%). This marks the seventh consecutive week of decline.
Seoul rose by 0.08%, decreasing the increase compared to the previous week (0.09%), but continued its upward trend for the 14th consecutive week. By district, Seocho (0.19%) increased primarily in the reconstruction projects in Jamwon and Banpo, Yangcheon (0.15%) in Mok and Sinjeong, Gangnam (0.15%) in Daechi and Apgujeong, Dongjak (0.12%) in Sangdo and Sadang, and Songpa (0.12%) in Jamsil and Songpa.
In particular, Gangnam (0.19→0.15%), Seocho (0.18→0.19%), Songpa (0.18→0.12%), and Yongsan (0.15→0.14%) recorded double-digit increases and have shown strength since being grouped into land transaction permit zones since March 24.
In Gangbuk, Seongdong (0.18%) rose mainly in the key complexes of Haengdang and Geumho, Mapo (0.18%) in Ahyeon and Daehyeong, Yongsan (0.14%) in Ichon and Han Gangro, Gwangjin (0.05%) in Gwangjang and Jayang, and Junggu (0.04%) in Sindang and Hwahak.
The Korea Real Estate Board noted that "in some regions and complexes, the wait-and-see attitude among market participants has expanded, while contracts are concluded in preferred areas such as reconstruction and station areas, and the hoped selling prices are rising, resulting in a continued upward trend in Seoul overall."
The metropolitan area rose by 0.02% this week, expanding the increase compared to the previous week (0.01%), while the provinces fell by 0.03%, narrowing the decline compared to the previous week (-0.05%).
In Gyeonggi, prices fell by 0.01%, reducing the decline compared to the previous week (-0.02%), and Incheon also fell by 0.01%, maintaining the decline from the previous week. Gyeonggi had increases in Gwacheon (0.20%) and Suji in Yongin (0.17%), while Ansung (-0.15%), Icheon (-0.13%), and Paldal in Suwon (-0.13%) experienced declines. In Incheon, Michuhol (0.03%) and Seo (0.03%) showed increases, while Yeonsu (-0.09%), Gyeyang (-0.02%), and Namdong (-0.02%) showed declines.
The nationwide apartment jeonse (key money deposit) prices remained unchanged from the previous week. The metropolitan area (0.01%→0.01%) and Seoul (0.03%→0.03%) maintained their increases, while the provinces (-0.01%→-0.01%) maintained their decreases.
The Korea Real Estate Board explained, "Demand for rentals remains steady, focusing on station areas, new constructions, and large complexes with favorable living conditions, and contracts are being concluded. However, efforts to rent are declining in some areas affected by move-ins and older complexes, yet the overall upward trend in Seoul continues."