Seoul apartment prices have risen for 18 consecutive weeks as expectations for reconstruction grow, and the rate of increase is also expanding.
On the 5th, according to the Korea Real Estate Board, the nationwide weekly apartment price trends for the first week of June (as of the 2nd) showed that prices in Seoul increased by 0.19%.
Following an increase of 0.16% last week, the rate of increase has grown by 0.3 percentage points. Currently, Seoul's apartment sale prices are in an upward trend for 18 consecutive weeks.
The Korea Real Estate Board analyzed that while there is a wait-and-see attitude in transactions for some complexes, inquiries for purchases are steady in major preferred complexes such as those undergoing reconstruction and new large complexes, leading to an increase in overall prices in Seoul.
In the Gangnam area (11 districts), prices rose by 0.27%. In particular, Songpa-gu (0.50%) saw increases mainly in complexes undergoing reconstruction in Sincheon and Jamsil-dong, while prices in Seocho-gu (0.42%) rose in major complexes in Banpo and Jamwon-dong. Gangnam-gu (0.40%) increased in Apgujeong and Daechi-dong, Yangcheon-gu (0.32%) rose in Mok and Sinjeong-dong, and Gangdong-gu (0.32%) increased mainly in large complexes in Myeongil and Goduk-dong.
The Gangbuk area (14 districts) increased by 0.10%. Prices in Mapo-gu (0.30%) rose mainly in Gongdeok and Yeomni-dong, while Yongsan-gu (0.29%) saw increases in Ichon and Munbae-dong, and Seongdong-gu (0.26%) rose mainly in Haengdang and Eungbong-dong. In Gwangjin-gu (0.15%), prices increased in Gwangjang and Goui-dong, while Seodaemun-gu (0.11%) rose in large complexes in Bukahyeon and Namgajja-dong.
Nationwide sale prices and jeonse prices recorded stability. In the capital area, the rate of increase expanded from 0.03% last week to 0.05% this week.
In the provinces, the decline decreased from 0.06% to 0.04%. By region, Ulsan (0.01%), Chungbuk (0.01%), and Jeonbuk (0.01%) rose. Gyeonggi remained stable, while Jeonnam (-0.09%), Gyeongbuk (-0.08%), Daejeon (-0.08%), Gwangju (-0.06%), and Daegu (-0.06%) fell.