Apartment sale prices in Dongtan District, Hwaseong, Gyeonggi Province, part of the "semiconductor belt," were the first in the country this year to reach a double-digit cumulative growth rate. Seoul's apartment jeonse market posted the steepest weekly gain in 12 years and 8 months.
According to the weekly apartment price trend survey for the fourth week of June (as of the 22nd) that the Korea Real Estate Board (REB) released on the 25th, apartment sale prices in Seoul rose an average of 0.30% from the previous week. The increase was 0.03 percentage points larger.
The board said, "Across Seoul, demand has been steady and buyer inquiries are increasing, with rising-price contracts occurring, centered on major complexes with good residential conditions and those with development expectations."
By area, Dobong District (0.46%), led by the transit-oriented zones of Chang-dong and Banghak-dong, rose the most in Seoul. ▲ Seongbuk District (0.41%) ▲ Guro District (0.41%) ▲ Dongdaemun District (0.38%) and other lower-mid tier areas led the strength. As rents climbed and listings thinned, end users such as newlyweds appeared to turn their eyes to apartments around 600 million won on the outskirts, using policy loan programs.
In this environment, the Gangnam area also maintained a certain level of gains. Gangnam District (0.35%) and Songpa District (0.29%) widened their increases and showed resilience. Seocho District (0.20%) had the same growth rate as the previous week.
Within Gyeonggi Province (0.19%), the south, backed by semiconductor hubs including Dongtan, stood out. Dongtan (1.65%) saw its rise slow from the previous week (2.22%) due to fatigue from a short-term surge, but with a cumulative annual gain of 11.38%, it became the first in the nation to reach the double-digit mark.
As buying interest moved to areas with clusters of relatively accessible new builds, ▲ Jungwon District, Seongnam (0.59%) ▲ Dongan District, Anyang (0.49%) ▲ Sujeong District, Seongnam (0.47%) ▲ Yeongtong District, Suwon (0.41%) and others saw their gains expand. Incheon rose 0.04%, bringing the greater Seoul area's overall increase to 0.20%.
In contrast, non-capital regions (0.00%) were flat for a month. The five major metropolitan cities fell 0.01%, and Sejong slipped 0.02%, while the eight provincial regions edged up 0.02%. The national average sale price rose 0.10%.
Nationwide apartment jeonse prices rose an average of 0.12% from a week earlier. In particular, Seoul (0.35%) widened its gain by 0.05 percentage points from the previous week, surpassing the highest growth rate in about 12 years and 8 months since the third week of Oct. 2013.
The board said, "Across Seoul, as listings are being absorbed in large complexes, strong school districts, and transit-oriented complexes, rising-price contracts are continuing."
Seongdong District and Seongbuk District each jumped 0.55%, the highest gains. ▲ Guro District (0.54%) ▲ Dobong District (0.53%) ▲ Nowon District (0.49%) followed. In Gyeonggi (0.16%), Dongtan District, Hwaseong (0.53%) took a breather, but Gwangmyeong (0.40%) and Guri (0.36%) were strong. Incheon (0.11%) also saw a larger increase, and jeonse prices across the greater Seoul area rose 0.21%.
In non-capital regions (0.03%), Sejong (0.06%) and the five major metropolitan cities (0.03%) maintained a gradual uptrend.