Since the implementation of the June 27 measures, the rate of increase in apartment prices in Seoul has continued to slow down, recording its lowest level in 16 weeks.
According to the Korea Real Estate Board (REB) on the 28th, nationwide apartment sales prices maintained stability (0.00%) in the fourth week of August (as of the 25th) following the previous week.
Apartment sales prices in Seoul rose by 0.08%, reducing the increase compared to the previous week (0.09%). This is the lowest rate of increase in 16 weeks since the first week of May (0.08%). Although apartment sales prices in Seoul have continued to rise for 30 weeks since the beginning of February, the pace has been slowing since the implementation of the June 27 measures.
By district, Songpa-gu (0.20%) rose mainly in the areas of Bangi and Munjeong-dong undergoing reconstruction, Seocho-gu (0.13%) in major complexes in Banpo and Jamwon-dong, Yeongdeungpo-gu (0.11%) in small to medium-sized complexes in Singil and Yeouido-dong, and Yangcheon-gu (0.09%) in large complexes in Mok and Sinwol-dong.
In Gangbuk, Seongdong-gu (0.19%) rose mainly in the areas of Geumho and Oksoodong, Gwangjin-gu (0.18%) in the educational districts of Guui and Jayang-dong, Yongsan-gu (0.09%) in major complexes in Hannam and Ichon-dong, Dongdaemun-gu (0.08%) in large complexes in Jeonnong and Dapsimni-dong, and Mapo-gu (0.08%) mainly in the areas of Dohwa and Singongdeok-dong.
The Korea Real Estate Board (REB) noted, "Overall, the wait-and-see attitude among buyers continues; however, prices are rising mainly in reconstruction areas and large complexes or educational districts with good living conditions, maintaining the upward trend in Seoul as a whole."
In the metropolitan area, prices increased by 0.03% this week, maintaining the upward trend from the previous week, while the provinces saw a decrease of 0.02%, maintaining the decline from the previous week.
In Gyeonggi Province, prices increased by 0.01% from the previous week, transitioning from stability to growth. Areas like Anyang Dongan-gu (0.20%), Gwacheon (0.18%), and Seongnam Bundang-gu (0.18%) showed upward trends, while Pyeongtaek (-0.13%) and Paju (-0.11%) were on a downward trend.
In Incheon, prices decreased by 0.02%, expanding the decline compared to the previous week (-0.01%). Michuhol-gu (0.01%) showed an upward trend, while Seo-gu (-0.06%), Yeonsu-gu (-0.03%), Bupyeong-gu (-0.02%), and Jung-gu (-0.02%) experienced declines.
Nationwide apartment rental prices increased by 0.02%, expanding the increase compared to the previous week (0.01%). The metropolitan area (0.02%→0.03%) and Seoul (0.05%→0.06%) saw an increase in the rate, while the provinces changed to an upward trend (0.00%→0.01%).
The Korea Real Estate Board (REB) explained, "In some regions influenced by the supply of move-in properties and low-rise buildings, prices have fallen; however, contracts have been signed in complexes with good living conditions, such as educational districts and areas near subway stations, leading to an increase in prices across Seoul."