Following the government's household debt measures announced on June 27, the real estate market has shown a wait-and-see attitude, with the rise in apartment prices in Seoul slightly decreasing.
According to Real Estate R114 on the 18th, the nationwide apartment sale price in the third week of July rose 0.32% compared to the previous week. The increase compared to last week (0.29%) has grown. In Seoul, prices increased by 0.49%, slightly down from the previous week's increase of 0.53%.
In the Gyeonggi and Incheon regions, prices rose 0.24% compared to the previous week, slightly increasing the price rise in the metropolitan area (0.38%). The five major metropolitan cities saw an adjustment of 0.12%, while other regions rose by 0.14%. Based on the 17 cities and provinces nationwide, all areas showed an upward trend.
By individual region, prices increased in the following order: Seoul (0.49%), Sejong (0.34%), Gyeonggi (0.26%), Incheon (0.15%), North Jeolla (0.15%), Daejeon (0.14%), and Busan (0.13%).
The nationwide apartment charter price rose by 0.01%, narrowing the increase compared to the previous week's 0.06%. Prices in Seoul increased by 0.01%, while the metropolitan area and Gyeonggi-Incheon remained unchanged (0.00%). Among provincial regions, the five major metropolitan cities rose by 0.01%, whereas other regions fell by 0.02%. Among the 17 cities and provinces nationwide, there were 8 areas with increases, 2 unchanged, and 7 with decreases, indicating a tense balance between rising and falling regions.
Real Estate R114 noted that "since the announcement of the household debt measures on June 27, the housing market in Seoul has continued a wait-and-see attitude without significant moves from both sellers and buyers," and added, "Especially in the high-priced market, there is a dominant mood of 'let's wait and see' as people closely observe the trend of apartment sales prices."
It further mentioned that "as lending regulations intensify in July, the number of apartment sales transactions and the rally in house prices have stalled; however, the emergence of urgent sales has increased, and adjustments to asking prices are not significant. Nevertheless, it is necessary to continue monitoring changes in apartment inventory and trends in asking price adjustments over a longer period."