2024-07-05 18:35:14
Rent prices also rose for 59 consecutive weeks
The increase in apartment prices in Seoul was the largest in 2 years and 9 months.
According to the weekly trend of the Korea Real Estate Board on the 4th, apartment prices in Seoul in the first week of July (as of the 1st) rose 0.20% compared to the previous week (0.18%). With 15 consecutive weeks of increases, this is the largest weekly increase since the third week of September 2021 (0.20%).
By region, the increase was the largest in the Gangbuk area of Ma·Yong·Seong (Mapo·Yongsan·Seongdong-gu). Seongdong-gu (0.59%) rose the most, followed by Yongsan-gu (0.35%) and Mapo-gu (0.33%). In the Gangnam area, Seocho-gu (0.31%) and Songpa-gu (0.27%) showed the highest increase rates. A Korea Real Estate Board official said, “Not only preferred complexes, but also nearby complexes are seeing upward transactions.”
This week’s supply and demand index was tallied at 100.4, up 1.5 points from the previous week (98.9). If it is higher than the baseline (100), it means that demand exceeds supply. It has been 2 years and 7 months since the second week of November 2021 (100.9) that it has exceeded the baseline. The Seoul jeonse price also rose 0.20% compared to the previous week, rising for the 59th consecutive week.
However, the government is predicting that the upward trend in housing prices in Seoul will be limited. Kim Gyu-cheol, director of the Ministry of Land, Infrastructure and Transport’s Housing and Urban Affairs Bureau, met with reporters after the ‘Housing Supply Review Meeting’ on this day and said, “If 5,800 homes in five new cities in the third phase enter the main subscription and construction phase within the year, it will provide a visible supply signal,” adding, “Since financial authorities are also managing household loans, I believe the possibility of a trend upward trend is limited.”
Meanwhile, the polarization phenomenon continued with local apartment prices falling 0.04% compared to the previous week (-0.05%). It has been falling for six consecutive weeks since the fourth week of May (-0.01%).
Reporter Lee Chuk-bok [email protected]
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2024-07-05 18:35:14