In the first week of the new year, the rise in Seoul apartment prices slowed slightly, but they have increased for 48 straight weeks.
According to weekly apartment price trends for the first week of January this year (as of the 5th) that the Korea Real Estate Board (REB) released on the 8th, Seoul apartment sale prices rose 0.18%, down 0.03 percentage points (p) in the rate of increase from the previous week (0.21%). However, they have risen for 48 straight weeks since the first week of February last year.
By district, Dongjak rose 0.37%, the highest rate of increase. It was followed by Seongdong (0.33%), Seocho and Songpa (each 0.27%), Yongsan and Yangcheon (each 0.26%), and Yeongdeungpo and Jung (each 0.25%).
In major Seoul areas such as Gangnam (0.20%→0.14%), Seocho (0.28%→0.27%), Songpa (0.33%→0.27%), Gangdong (0.30%→0.19%), and Yongsan (0.30%→0.26%), the pace of increase slowed from the previous week.
The Korea Real Estate Board (REB) analyzed, "Amid an overall decline in transaction volume and buyer inquiries, prices continued to rise mainly for favored complexes such as some redevelopment candidates, large-scale complexes, and areas near subway stations, leading to an overall increase in Seoul."
Gyeonggi apartment prices rose 0.08%, with the pace of gains narrowing for two straight weeks (0.12%→0.10%→0.08%).
Among areas designated as regulated under the Oct. 15 measures last year, some regions showed relatively strong performance.
In Suji District of Yongin, the pace of increase narrowed to 0.42% this week from 0.47% last week, but it was the largest among regulated areas. In Bundang District of Seongnam, the rate also eased for the second week to 0.31% from 0.32%, but remained high.
Gwangmyeong (0.26%→0.28%) and Hanam (0.19%→0.23%), as well as Paldal District of Suwon (0.08%→0.20%) and Gwonseon District (0.14%→0.18%), saw wider gains.
Nationwide apartment prices rose 0.06% in the first week of the new year.