In June, apartment sale prices in Seoul were found to be rising faster than in the previous month. In particular, the Dongtan area of Hwaseong, Gyeonggi Province, recorded a monthly increase of more than 4%.
According to "June nationwide dwelling price trends (as of the 15th)" released by KB Real Estate on the 28th, apartment sale prices in Seoul jumped 1.07% from a month earlier. The increase was 0.24 percentage points larger than in the previous month.
By area, mid-to-lower-tier districts that had risen relatively less than Gangnam led the gains. Dongdaemun District rose the most at 2.16%, followed by ◇ Seongbuk District (1.99%) ◇ Gwangjin District (1.85%) ◇ Jung District (1.80%) ◇ Gangbuk District (1.55%).
Gangnam District (0.25%), which had posted declines for three straight months, turned higher this month, while Seocho District (0.46%) and Yongsan District (0.54%) showed relatively moderate gains.
Gyeonggi Province also recorded a 0.65% gain, with the increase widening by 0.26 percentage points from the previous month. Among them, Dongtan District in Hwaseong rose 4.16% in a month, the highest increase in the country.
Guri (1.96%), Gwangmyeong (1.87%), and Suji District in Yongin (1.87%) also showed strong gains. In contrast, Incheon (-0.09%) fell for the second straight month, while including this, apartment sale prices across the greater Seoul area rose 1.07%, and the national average increased 0.33%.
The "KB Leading Apartment 50 Index," which shows the monthly market cap change rate of the top 50 apartments by market cap, rose 0.14% from the previous month. On news that the grace period on heavier capital gains taxes for multiple-home owners would end, the index, which had fallen for three straight months from March, is seen as having turned upward again after the full implementation of the heavier taxation.
The surge in the jeonse market is also not letting up. In June, Seoul apartment jeonse prices rose 1.43%, setting the highest monthly increase this year. Prices jumped as jeonse supply shortages deepened in Dobong District (2.77%), Songpa District (2.29%), and Eunpyeong District (2.10%). Gyeonggi Province (0.87%) and Incheon (0.37%) also climbed, pushing jeonse prices across the greater Seoul area up 0.96%.
Nationwide sale prices for dwellings, including apartments, row houses, and single-family homes, rose 0.24%, while jeonse prices increased 0.40%. Apartments and row houses edged up, while single-family homes were flat for sales and fell for jeonse.
Both Seoul's sale price outlook index (125.3) and jeonse price outlook index (139.5), which reflect expectations for the real estate market, easily exceeded the baseline of 100, indicating that views were dominant that home prices will rise further.
Meanwhile, the median sale price of apartments in the 11 districts south of Seoul's Han River surpassed 1.6 billion won (1,603.33 million won) for the first time. The median jeonse price, the midpoint value, also reached 700 million won, marking a record high for the first time in about four years, and the average jeonse price in these areas exceeded 800 million won for the first time.
In contrast, the quintile multiple, which shows the price gap between expensive and inexpensive apartments, was 6.5 for Seoul, falling for the fourth straight month. This is analyzed as a result of continued increases in apartment prices in Seoul's mid-to-lower-tier districts, where prices had been relatively low recently.