Seoul apartment prices rose at a slower pace for the first time in three weeks. In the three Gangnam districts (Gangnam, Seocho, Songpa), apartment prices have fallen for seven straight weeks.
According to the weekly apartment price trends from the Korea Real Estate Board (REB) on the 9th, Seoul apartment prices this week (as of on the 6th) rose an average 0.10% from last week (0.12%).
Earlier, Seoul apartment prices gained 0.05% in the third week of March, 0.06% in the fourth week of March, and 0.12% last week, widening for two straight weeks. However, after the expansion, the pace narrowed again this week, three weeks later.
In particular, the three Gangnam districts have maintained a decline for seven consecutive weeks. In Seocho District (-0.06%), the drop widened by 0.04 percentage points, and in Songpa District (-0.02%), it widened by 0.01 percentage points. Only in Gangnam District (-0.10%) did the drop narrow by 0.12 percentage points.
Elsewhere in Seoul, Seongdong District (0.04%) turned higher, and Yangcheon District (0.12%) and Dongjak District (0.07%) saw their gains grow by 0.03 percentage points. Gangdong District also shifted from flat last week to a 0.01% rise this week.
Gangs eo District (0.27%→0.25%), Dobong District (0.15%→0.04%), and Jungnang District (0.15%→0.10%) saw smaller gains.
In the greater Seoul area, apartment prices rose 0.07%. In Gyeonggi Province (0.07%), the pace of gains narrowed by 0.02 percentage points, while Incheon (0.02%) shifted from a decline to flat.
Nationwide apartment prices rose 0.04%. In the provinces, prices increased 0.01%. The five major metropolitan cities (0.00%) were flat, Sejong fell 0.04%, and the eight provinces rose 0.03%.
Seoul apartment jeonse prices rose 0.16% this week, extending their gains for 61 straight weeks.