After the Oct. 15 real estate measures, which grouped all of Seoul and 12 areas in Gyeonggi Province as regulated areas (adjustment targets and overheated speculation districts) and land transaction permit zones, the increase in Seoul apartment prices narrowed for the second straight week.
According to the Korea Real Estate Board (KREB) on the 6th, nationwide apartment sale prices rose 0.07% in the third week of November (as of on the 3rd). The pace of increase held from the previous week.
Seoul apartment sale prices rose 0.19%, narrowing from 0.23% the previous week. After a 0.50% rise in the third week of October, the largest increase on record, the pace of increase narrowed for two straight weeks.
By district, Dongjak District (0.43%) rose mainly for older complexes in Sadang and Sangdo neighborhoods; Songpa District (0.43%) rose mainly for complexes pushing redevelopment in Garak and Sincheon; Gangdong District (0.35%) rose mainly for major complexes in Gangil and Amsa; and Yangcheon District (0.34%) rose mainly for large complexes in Mok and Sinjeong.
In northern Seoul, Jung District (0.29%) rose mainly in Sindang and Hwanghak; Seongdong District (0.29%) rose mainly for major complexes in Haengdang and Hawangsimni; Yongsan District (0.23%) rose mainly for large complexes in Ichon and Hannam; Mapo District (0.23%) rose mainly in Seongsan and Dohwa; and Seodaemun District (0.19%) rose mainly for small and mid-sized units in Namgajwa and Bukahyeon.
The Korea Real Estate Board (KREB) said, "With fewer purchase inquiries and transactions and market participants remaining on the sidelines, Seoul as a whole rose as higher-priced deals were concluded mainly in complexes pursuing redevelopment."
Gyeonggi Province rose 0.11% this week, narrowing from 0.12% the previous week. Bundang District in Seongnam (0.59%), Guri (0.52%), and Gwacheon (0.44%) gained, while Pyeongtaek (-0.20%) and Paju (-0.11%) fell.
Incheon rose 0.05%, widening from 0.02% the previous week. Seogu (0.09%), Donggu (0.07%), Michuhol District (0.07%), Yeonsu District (0.07%), and Namdong District (0.05%) gained.
Nationwide apartment jeonse prices rose 0.08%, widening from 0.07% the previous week. The greater Seoul area (0.10%→0.11%), Seoul (0.14%→0.15%), and non-capital regions (0.03%→0.05%) all rose.
The Korea Real Estate Board (KREB) said, "With lease demand centered on preferred complexes such as those near transit and large-scale sites continuing, Seoul as a whole rose amid a shortage of listings."