On Apr. in Seoul, the actual transaction price index for apartment sales turned upward. Actual transaction prices for jeonse kept rising in the 1% range, showing sales and jeonse climbing together.
The Seoul city government said on the 18th that the April actual transaction price index for apartment sales in Seoul rose 0.08% from the previous month. The figure was up 12.86% from the same month a year earlier.
The April actual transaction price index is calculated by the Korea Real Estate Board (REB) through a full analysis of actual transaction data among sales contracts concluded from Apr. 1 to 30 for which reporting was completed within 30 days of the contract date under the Act on Report on Real Estate Transactions.
The average actual transaction price for apartment sales rose 12.6%, from 14,563,000 won per square meter in Mar. to 16,394,000 won in Apr. Converted to an exclusive area of 84 square meters, the average transaction price increased by about 154 million won, from 1.22329 billion won to 1.37710 billion won.
By living area, prices rose in Seoul's northeast, northwest, and southwest. In particular, the northeast area—including Gangbuk, Dobong, Nowon, Seongbuk, and Seongdong districts—showed the highest increase at 0.61%. Cumulative actual transaction prices for apartment sales on the 1st to 4th recorded high gains in the northeast (4.6%), southwest (4.4%), and northwest (3.0%).
The Seoul city government said the trend appears to stem from end-user demand concentrating on mid- to low-priced apartments, where funding burdens are relatively lower due to loan limits.
Actual transaction prices for apartment jeonse also continued to rise. In Apr., apartment jeonse actual transaction prices climbed 1.14% from the previous month. By area, the central districts of Jongno, Jung, and Yongsan recorded the highest increase at 3.32% from the previous month. The southeast (1.76%) and the southwest (1.53%) also saw jeonse prices rise more than 1%. The April jeonse actual transaction price index was calculated based on contracts concluded in Apr. that were given a confirmed date within 30 days and for which the lease report was completed.