7 Weeks of Consecutive Decline in Sales Prices
Jeonse Prices Rise for 25 Consecutive Weeks
Apartment sale prices nationwide fell by 0.05%. The decline has continued for seven consecutive weeks.
According to the weekly apartment price trend for the second week of January announced by the Korea Real Estate Board on the 11th, sale prices fell by 0.05%, while jeonse prices rose by 0.03%.
The nationwide weekly apartment sale price decline remained the same as last week (-0.04%). The metropolitan area fell by 0.06%, Seoul by 0.04%, and other regions by 0.04%. The five major metropolitan cities fell by 0.05%, the eight provinces by 0.02%, and Sejong by 0.09%.
By city and province, Daegu (-0.10%), Sejong (-0.09%), Busan (-0.07%), Gyeonggi (-0.07%), Jeju (-0.05%), Gyeongnam (-0.05%), and Incheon (-0.04%) declined. Chungbuk (0.00%) and Chungnam (0.00%) remained flat, while Daejeon (0.01%) rose.
Weekly Change Rate of Transaction Price Index by Province for the 2nd Week of January (Data Provided by Korea Real Estate Board)
The Seoul real estate market is experiencing a price adjustment downward as buyers remain cautious amid unstable financial conditions and concerns over a real estate market slowdown. Declines continue in Songpa-gu (-0.11%), Nowon-gu (-0.07%), Dongjak-gu (-0.07%), Gangbuk-gu (-0.06%), Guro-gu (-0.06%), Dobong-gu (-0.04%), Gangseo-gu (-0.05%), and Seodaemun-gu (-0.04%).
In Gyeonggi Province, most areas except Gwacheon saw declines. Gwacheon rose by 0.06% as low-priced properties were sold out, especially in areas with redevelopment issues. Other areas such as Osan-si (-0.22%), Gwangju-si (-0.17%), Bundang-gu in Seongnam (-0.17%), Jungwon-gu in Seongnam (-0.16%), and Ilsanseo-gu in Goyang (-0.14%) declined.
Change Rate of Jeonse Price Index by Region in the 2nd Week of January (Source: Korea Real Estate Board)
Jeonse prices have risen for 25 consecutive weeks. This week's increase was 0.03%, the same as last week.
Nationwide weekly apartment jeonse prices rose by 0.05% in the metropolitan area, a slight decrease from the previous week, while Seoul saw a higher increase of 0.08%. Other regions remained flat.
In Seoul, jeonse inquiries decreased, and price fluctuations varied by region and complex. The Korea Real Estate Board stated, "The shortage of listings continues mainly in complexes near subway stations and highly preferred areas, maintaining the upward trend."
In Seoul, the largest jeonse price increases were in Guro-gu (0.20%), Nowon-gu (0.16%), Eunpyeong-gu (0.16%), Dongdaemun-gu (0.15%), Yeongdeungpo-gu (0.11%), Dobong-gu (0.10%), and Gangseo-gu (0.09%).
Gyeonggi Province rose by 0.05%, with significant increases in Deogyang-gu (0.24%), Paldal-gu in Suwon (0.23%), Hwaseong-si (0.23%), Yeongtong-gu in Suwon (0.22%), Guri-si (0.22%), and Ilsanseo-gu in Goyang (0.20%).
By city and province, jeonse prices rose in Daejeon (0.10%), Jeonbuk (0.07%), Chungbuk (0.06%), Gyeonggi (0.05%), and Ulsan (0.02%). They fell in Daegu (-0.04%), Busan (-0.04%), Gyeongbuk (-0.03%), and Jeju (-0.02%).
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