After the government announced its household debt measures on June 27, a wait-and-see attitude persisted, but as some transactions rose, the increase in apartment sale prices in Seoul halted its five-week decline and expanded again.
According to the Korea Real Estate Board (REB) on the 7th, the sale price of apartments in Seoul during the first week of August (as of the 4th) increased by 0.14% compared to the previous week. The increase was greater than the previous week's rise of 0.12%. After recording 0.43% in the third week of June, the increase had declined for five consecutive weeks until the previous week. This week, it has shown a recovery in the upward trend.
By district, Songpa District (0.38%) rose mainly in the Jamsil and Songpa-dong areas, Yangcheon District (0.18%) rose mainly in the Mok and Sinjeong-dong key complexes, Seocho District (0.16%) rose mainly in the Banpo and Jamwon-dong areas, and Gangnam District (0.15%) rose mainly in the Samsung and Nonhyeon-dong areas.
In northern Seoul, Seongdong District (0.33%) rose mainly in the Kumho and Oksoo-dong areas, Gwangjin District (0.24%) rose mainly in the Guui and Gwangjang-dong school districts, Yongsan District (0.22%) rose mainly in the Munbae and Seobinggo-dong areas, Mapo District (0.14%) rose mainly in the Gongdeok and Yeomni-dong key complexes, and Seodaemun District (0.09%) rose mainly in the Namgajwa and Beolgajwa-dong areas.
The Korea Real Estate Board (REB) noted, "While the wait-and-see attitude among buyers has continued and overall demand has shrunk, inquiries into preferred complexes such as redevelopment issue complexes and those near stations or school districts have increased, leading to more upward transactions and an expansion of increases compared to last week."
National sale prices rose by 0.01%, maintaining the rise of the previous week. The metropolitan area increased by 0.05% this week, expanding from the previous week's 0.04%, while the provinces dropped by 0.03%, widening the decline from the previous week's -0.02%.
In Gyeonggi Province, prices increased by 0.02%, expanding from the previous week's 0.01%. Seongnam Bundang District (0.47%), Gwacheon (0.34%), and Anyang Dongan District (0.26%) showed upward trends, while Pyeongtaek (-0.32%) and Goyang Ilsandong District (-0.22%) were on a downward trend.
In Incheon, prices dropped by 0.02%, narrowing the decline from last week's -0.03%. Yeonsu District (-0.05%), Jung District (-0.03%), Seo District (-0.02%), Gyeyang District (-0.02%), and Namdong District (-0.02%) were all on a downward trend.
The national apartment rental prices rose by 0.01%, maintaining the increase from the previous week. In the metropolitan area, prices increased from 0.01% to 0.02%, while in Seoul, the increase shrank from 0.06% to 0.05%, and in the provinces, it remained stable at 0.00%.
The Korea Real Estate Board (REB) explained, "Amid a continuing shortage of listings in preferred areas such as near stations and school districts, the overall rise in Seoul has narrowed due to factors like demand shrinkage in regions affected by some occupancy loads and in older complexes."