Seoul apartment prices increased for the third straight week with a bigger gain, marking 34 consecutive weeks of rises. Nationwide apartment prices also saw a larger increase.
According to the Korea Real Estate Board (REB) on the 25th, nationwide apartment sale prices in the fourth week of September (22nd) rose 0.03%, widening from the previous week's 0.02%.
Seoul apartment sale prices rose 0.19%, with the increase sharply widening from the previous week's 0.12%. By district, Songpa District (0.35%) climbed mainly in major complexes in Jamsil and Garak-dong; Gangdong District (0.31%) rose mainly in Amsa and Myeongil-dong; Yangcheon District (0.28%) increased mainly in large complexes in Sinjeong and Mok-dong; and Yeongdeungpo District (0.24%) rose mainly in areas near subway stations in Singil and Yeouido-dong.
In northern Seoul, Seongdong District (0.59%) rose mainly in areas near subway stations in Geumho and Haengdang-dong; Mapo District (0.43%) climbed mainly in Seongsan and Gongdeok-dong; Gwangjin District (0.35%) rose mainly in school districts in Jayang and Gwangjang-dong; Yongsan District (0.28%) increased mainly in Ichon-dong and Wonhyo-ro 4-ga; and Jung District (0.27%) rose mainly in Sindang and Jungnim-dong. In particular, the gains widened sharply in Mapo (0.28%→0.43%), Yongsan (0.12%→0.28%), and Seongdong (0.41%→0.59%).
The Korea Real Estate Board (REB) said, "With more buyer inquiries centered on preferred complexes such as those pursuing reconstruction, large complexes, and areas near subway stations, upward transactions were captured and the overall uptrend in Seoul continued."
The greater Seoul area rose 0.07% this week, widening from the previous week's 0.04%, while non-capital regions fell 0.01%, maintaining the prior week's decline.
Gyeonggi Province rose 0.03% this week, with a larger gain than the previous week's 0.03%. Bundang District in Seongnam (0.64%), Gwangmyeong (0.24%), and Gwacheon (0.23%) showed gains, while Pyeongtaek (-0.16%) and Yeoju (-0.13%) declined.
Incheon held steady for a second week. Seo District (0.03%), Dong District (0.01%), and Michuhol District (0.01%) rose, while Yeonsu District (-0.02%) and Jung District (-0.02%) declined.
Nationwide apartment jeonse prices rose 0.04%, widening from the previous week's 0.03%. The gains expanded in the greater Seoul area (0.04%→0.06%), Seoul (0.07%→0.09%), and non-capital regions (0.01%→0.03%) alike.
The Korea Real Estate Board (REB) said, "With a shortage of listings pushing jeonse prices higher, contracts have been signed mainly in complexes near subway stations and those with favorable residential conditions, resulting in an overall uptrend in Seoul."