The decline in real estate sale prices in Incheon has narrowed for five consecutive months, while jeonse prices recorded the highest increase nationwide in April.
According to Incheon City's real estate market trend report for April this year, the rate of change in sale prices in the Incheon area narrowed from -0.06% in March to -0.05% in April.
By region, Yeonsu (0.07%), Seo-gu (0.06%), Namdong (0.04%), Gyeyang (0.03%), and Dong-gu (0.03%) saw increases, while Bupyeong (-0.37%), Jung-gu (-0.11%), and Michuhol-gu (-0.05%) experienced declines.
Meanwhile, the rate of change in jeonse prices was 0.30%, showing the highest increase nationwide again in April. The upward trend continued in the order of Yeonsu-gu 0.69%, Namdong-gu 0.47%, Bupyeong and Gyeyang-gu 0.37%, Seo-gu 0.17%, Dong-gu 0.12%, Michuhol-gu 0.11%, and Jung-gu -0.22%.
The land price change rate increased from 0.140% in February to 0.156% in March this year. Yeonsu-gu and Seo-gu exceeded the Incheon average with 0.280% and 0.161%, respectively.
Also, the volume of housing sale transactions rose by 25.3%, from 2,792 cases in February to 3,497 cases in March. The numbers by district were Seo-gu 723, Namdong-gu 565, Bupyeong-gu 562, Yeonsu-gu 487, Michuhol-gu 434, Gyeyang-gu 381, Jung-gu 187, and Dong-gu 76.
An official from Incheon City stated, "Analyzing the April price trends released by the Korea Real Estate Board, sales prices rose and the decline narrowed due to factors such as the expansion of the bio cluster in Songdo International City and the positive prospects of the metropolitan area express railway (GTX) D and E lines." He added, "Jeonse prices showed the highest increase nationwide as demand concentrated mainly on large-scale complexes near stations with good transportation environments, along with population growth."
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