Following the government's household debt measures announced on June 27, a wait-and-see attitude towards buying has continued, causing the growth in apartment sale prices in Seoul to shrink.
According to the Korea Real Estate Board (REB) on the 14th, apartment sale prices in Seoul rose by 0.10% in the second week of August (as of Aug. 11), a decline from the previous week's increase of 0.14%.
By autonomous district, Songpa District (0.31%) saw increases centered on redevelopment sites in Sincheon and Munjeong-dong, Seocho District (0.16%) focused on key complexes in Seocho and Jamwon-dong, Yangcheon District (0.13%) aimed at small to mid-sized complexes in Mok and Sinwol-dong, and Gangnam District (0.13%) rose based on development expectations in Daechi and Gaepo-dong.
In northern Seoul, Seongdong District (0.24%) rose based on areas in Eungbong and Oksoodong, Yongsan District (0.13%) focused on major complexes in Ichon and Munbae-dong, Gwangjin District (0.13%) was centered around educational zones in Gwangjang and Jayang-dong, Mapo District (0.11%) concentrated on Seongsan and Dohwa-dong, and Dongdaemun District (0.08%) increased based on old complexes in Dapsimni and Jeonnong-dong.
The Korea Real Estate Board (REB) noted, "While sale prices are rising based on redevelopment sites and educational zones, a wait-and-see attitude among buyers continues, and overall inquiries about purchases have decreased, leading to a reduction in the increase compared to last week."
National sale prices rose by 0.01%, maintaining last week's increase. The metropolitan area increased by 0.04% this week, decreasing from last week's rise of 0.05%, while the provinces dropped by 0.01%, showing a decrease from last week's decline of -0.03%.
Gyeonggi Province rose by 0.01%, reducing its increase from last week's 0.02%. Cities such as Gwacheon (0.22%), Seongnam Bundang District (0.19%), and Anyang Dong-an District (0.18%) showed an upward trend, while Pyeongtaek (-0.16%) and Paju (-0.08%) experienced downward trends.
In Incheon, prices fell by 0.04%, which was a widening decline from last week's -0.02%. Areas such as Seo-gu (-0.07%), Yeonsu-gu (-0.07%), Bupyeong-gu (-0.02%), Namdong-gu (-0.02%), and Jung-gu (-0.02%) showed declines.
National apartment rent prices rose by 0.01%, maintaining the increase from last week. The metropolitan area (0.02%) and Seoul (0.05%) maintained their upward trends, while provinces remained stable at 0.00%.
The Korea Real Estate Board (REB) explained, "In areas influenced by some incoming inventory, rent prices have decreased; however, demand for rentals continues in desirable complexes with good living conditions, and a shortage of listings has appeared, indicating that the overall upward trend in Seoul persists."