This week, apartment prices in Seoul increased by 0.08% compared to last week. In some districts such as Yongsan and Seongdong, the increase has been greater than last week.
According to the Korea Real Estate Board (REB) on the 4th, this week (as of the 1st), apartment prices in Seoul rose by 0.08% compared to last week. The increase rate is the same as last week (0.08%). The weekly increase, which had expanded to 0.43% last June, decreased after the 6-27 loan regulation limited the housing loan amount in the metropolitan area to 600 million won.
In the first week of August, there was a slight rebound to 0.14%, but it subsequently decreased again to 0.10%→0.09%→0.08%. However, the upward trend has continued for 31 weeks.
In the three districts of Gangnam, the increase rates for Seocho and Gangnam districts remained the same at 0.13% and 0.09%, respectively. Songpa district decreased from 0.20% to 0.19%, a reduction of 0.01 percentage points (p).
Among the 25 districts in Seoul, the areas that saw an increase compared to the previous week are Jung-gu (0.06%→0.11%), Yongsan-gu (0.09%→0.13%), Seongdong-gu (0.19%→0.20%), Dongdaemun-gu (0.08%→0.10%), Seongbuk-gu (0.04%→0.05%), Seodaemun-gu (0.05%→0.06%), Mapo-gu (0.08%→0.12%), and Gwanak-gu (0.08%→0.09%), totaling 8 places.
The Real Estate Board analyzed, "While the overall buying wait-and-see stance continues and transactions are somewhat sluggish, increases are being recorded in certain preferred complexes with reconstruction plans and expectations of price rises, resulting in an overall increase in Seoul."
Meanwhile, Gyeonggi Province transitioned from a 0.01% increase last week to a flat (0.00%). Incheon saw an increase in the decrease from 0.02% to 0.04%, which slowed the upward trend in the metropolitan area as a whole (0.03%→0.02%).
In the provinces, there was a 0.02% decrease compared to last week, which was the same decrease rate as the previous week. The five major cities saw an increase in the decrease rate from -0.04% to -0.07%. The eight provinces experienced a slight reduction in the decrease rate from -0.02% to -0.01%, while Sejong City transitioned from a 0.02% increase last week to a flat status.
The national average sale price has remained flat for three weeks. The nationwide apartment rental prices rose by 0.02%, the same as the previous week.