Apartment sale prices are continuing to rise, centered on Seoul's "Han River Belt."
According to nationwide weekly apartment price trends for the fourth week of December (as of the 22nd) that the Korea Real Estate Board (REB) released on the 25th, the average sale price of apartments in Seoul rose 0.21% from the previous week.
The rate of increase in sale prices stayed around 0.17%–0.18% for four weeks from the last week of Nov., then edged up this week. The REB said, "With transaction levels somewhat low, buyer inquiries are increasing for preferred complexes, and Seoul as a whole rose as upward deals occurred mainly in large complexes and near subway stations with good living conditions, as well as complexes pushing for reconstruction."
In Seoul, Seongdong District (0.34%) recorded the highest increase, driven by gains mainly in apartment complexes in Hawangsimni and Geumho-dong. In Songpa District (0.33%), complexes pushing for reconstruction in Munjeong and Geoyeo-dong led the rise. Next were Dongjak District (0.31%), Yongsan District (0.30%), and Yangcheon District (0.30%). Outlying areas such as Jungnang District (0.04%), Gangbuk District (0.02%), Dobong District (0.03%), and Geumcheon District (0.05%) had relatively lower rates of increase.
The average sale price of apartments in Gyeonggi Province rose 0.12% from the previous week, widening the increase by 0.02 percentage points from the week before. In Gyeonggi, strength in sale prices continues, centered on regulated areas. Suji District in Yongin (0.51%) widened its increase by 0.08 percentage points from the prior week to post a high rate of gain, and Bundang District in Seongnam (0.44%) maintained a similar rise to the prior week (0.43%). Hanam (0.42%) and Dongan District in Anyang (0.33%) also showed high increases, and Gwacheon (0.30%) saw its cumulative increase for the year (20.11%) top 20%.
Outside the Seoul metropolitan area, apartment sale prices rose 0.03%, marking an eighth straight week of gains. The five major metropolitan cities and eight provinces each climbed 0.03% from the prior week, and Sejong rose 0.07%.
Nationwide apartment jeonse prices held at 0.09% for a third week. In Seoul, amid a continued shortage of listings for preferred complexes, jeonse demand persisted mainly for areas near subway stations and large complexes, lifting the overall rate by 0.16%. The pace of increase was the same as the previous week.