Due to the impact of the June 27 loan regulations, the increase in Seoul apartment prices in August narrowed sharply.
According to the "August nationwide dwelling price trend survey results" released by the Korea Real Estate Board (REB) on the 15th, nationwide combined dwellings (apartments, row houses, detached houses, etc.) sale prices in August rose 0.06% from a month earlier. The gain narrowed from the previous month (0.12%).
Seoul climbed 0.45%, with the increase narrowing from the previous month (0.75%). The Seoul metropolitan area (0.33%→0.17%) saw a smaller gain, while non-capital regions (-0.08%→-0.05%) saw a smaller decline.
By district in Seoul, Songpa District (1.20%) rose mainly in complexes pushing redevelopment in Sincheon and Jamsil neighborhoods; Seocho District (0.61%) mainly in major complexes in Banpo and Jamwon; Dongjak District (0.56%) mainly in Heukseok and Daebang; Yeongdeungpo District (0.54%) mainly in small to mid-sized complexes in Dangsan and Dorim; and Gangnam District (0.54%) mainly in Gaepo and Ilwon.
In northern Seoul, Yongsan District (1.06%) rose mainly in major complexes in Dowon and Itaewon; Seongdong District (0.96%) mainly in Geumho and Seongsu; Mapo District (0.59%) mainly in large-scale complexes in Yeomni and Daeheung; Gwangjin District (0.52%) mainly in school district areas in Guui and Jayang; and Jung District (0.33%) mainly in Sindang and Hwanghak.
The Korea Real Estate Board (REB) said, "While inquiries to buy continued steadily for preferred complexes such as new builds and those slated for redevelopment in Seoul and the metropolitan area, other complexes saw a wait-and-see mood," and added, "Amid a mixed trend—outer areas and older complexes showing a quiet tone due to weaker demand, while redevelopment, stationside, and new-build complexes saw concentrated buying inquiries—the nation rose from the previous month."
Nationwide jeonse prices rose 0.04% this month, maintaining the pace of increase from the previous month. The Seoul metropolitan area (0.11%→0.08%) and Seoul (0.24%→0.21%) saw smaller gains, while non-capital regions (-0.03%→0.00%) shifted from decline to flat.
Nationwide monthly rent prices rose 0.10%, with the increase widening from the previous month (0.09%). The Seoul metropolitan area (0.15%→0.15%) maintained its pace of increase, while Seoul (0.23%→0.24%) and non-capital regions (0.03%→0.06%) saw larger gains.
The Korea Real Estate Board (REB) explained, "Although trends differ by region and complex, increases were led by areas with favorable residential conditions such as stationside and strong school districts, and both jeonse and monthly rents continued to rise."