Top Natural Science Scorer Emerges Nationwide in Historic Difficult Suneung
Jeonse Prices in Suseong-gu Surge Immediately After Suneung
Daegu Faces Downward Trend as New Housing Supply Floods Market
Unsold Units Increase in Suseong-gu; Slowdown Expected for Now
Examinees looking at the admission tickets distributed at Daegu Girls' High School in Suseong-gu, Daegu. [Image source=Yonhap News]
Although housing prices in Daegu have recently entered a downward trend, Suseong-gu is drawing attention as it alone shows an increasing trend in both sale and jeonse prices after the College Scholastic Ability Test (CSAT). This is interpreted as being supported by its solid school district, which produced the top natural sciences scorer nationwide in the 2022 CSAT, known as the 'historic difficult CSAT.' In local areas, 'prestigious school districts' and housing prices cannot be considered separately.
According to the real estate industry on the 13th, apartment prices in Suseong-gu showed a slight rebound after this year's CSAT ended. Looking at statistics from the Korea Real Estate Board, the jeonse prices of apartments in Suseong-gu rose by 0.10% last week, expanding the increase for two consecutive weeks. Sale prices also rose by 0.01%, ending a three-week period of stagnation and reversing to an upward trend. Considering that other districts in Daegu are both slowing down in sales and jeonse prices due to expanded supply and other factors, this is a somewhat contrasting trend.
Suseong-gu has maintained high housing prices based on its solid school district, so the real estate market's attention was focused on this year's CSAT results. Generally, housing prices are influenced by factors such as jobs, transportation, school districts, infrastructure, and natural environment, but in local areas, 'school districts' tend to be more important than in the metropolitan area. Unlike Seoul and others, residents use private cars more than subways, and the population density is lower, making the distance to workplaces relatively short. Suseong-gu is also known for its high educational enthusiasm, with one perfect scorer in the 2020 CSAT (Gyeongbuk High School) and four perfect scorers in the 2015 CSAT (Gyeongsin High School).
According to the education sector, in this year's CSAT, Jo Jin-hyeok, a third-year student at Neungin High School in Suseong-gu, Daegu, scored 298 out of 300 in Korean, Math, and Inquiry subjects, missing only one question in Korean, and received the highest grade (1st grade) in the absolute evaluation subjects English and Korean History, ranking as the second highest nationwide and the top scorer in the natural sciences nationwide. Since this year's perfect scorers were 'repeat test takers,' Jo is the top scorer nationwide among current students.
A construction industry official explained, "Although housing prices are falling in Daegu due to increased supply, along with Sejong and others, Suseong-gu, where high-priced complexes are concentrated, maintains high prices due to its high residential preference and solid school district."
However, some analysts suggest that housing prices in Suseong-gu may also turn downward as the 'transaction cliff' continues in major areas nationwide, including Daegu. As of October, unsold apartments in Daegu numbered 1,933 units, slightly down from 2,093 units the previous month, but in Suseong-gu, unsold units increased from 182 to 197 within a month. Compared to only 24 unsold units in June and July, this is a clear upward trend. With a large supply in the area and factors such as loan regulations, interest rate hikes, and increased comprehensive real estate tax burdens, the transaction cliff is intensifying in Suseong-gu as well, so the upward trend may pause for the time being.
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