Gyeonggi and Incheon regions down 0.01%
Nationwide sale price change in January: -0.18%
26,670 transactions recorded in December last year
In the first week of February, the nationwide apartment sale prices rose by 0.03% compared to the previous week. In the metropolitan area, only Seoul saw an increase of 0.08%.
On the 12th, fog covered the city center as seen from Namsan in Seoul. The Korea Meteorological Administration forecasted that daytime temperatures will remain mild around 20 degrees Celsius for the time being, with a significant temperature difference between day and night. Photo by Kang Jin-hyeong
According to Real Estate R114 on the 8th, apartment sale prices nationwide in the first week of February increased by 0.03% compared to the previous week. Within the metropolitan area, except for Seoul (0.08%), the Gyeonggi and Incheon regions fell by 0.01%. Other provinces remained steady.
The regions with the largest increase in sale prices in the first week of February were △Seoul (0.08%) △Gangwon (0.05%) △Jeju (0.04%) △Jeonnam (0.03%) △Gyeongbuk (0.03%) △Ulsan (0.03%) in that order.
The nationwide apartment jeonse market recorded a steady trend overall. Seoul and the metropolitan area each rose by 0.01%, while Gyeonggi, Incheon, the five major metropolitan cities, and other provinces showed little movement.
Among the 17 cities and provinces nationwide, △Incheon (0.02%) △Seoul (0.01%) △Chungnam (0.01%) saw jeonse price increases, while all other regions except Gyeongnam (-0.02%) remained steady.
During the entire month of January, the nationwide monthly sale price fell by 0.18%. Amid ongoing loan regulations, economic sluggishness, and domestic and international political uncertainties, the cautious stance of real estate buyers deepened, continuing the downward trend in housing prices.
Seoul continued its upward trend with a 0.35% increase compared to the previous month, but all other regions showed declines. Among them, Jeonnam (-1.10%), Daejeon (-0.89%), and Gyeongbuk (-0.72%) experienced notable drops.
Based on the Ministry of Land, Infrastructure and Transport’s real transaction disclosure system on the 7th, the number of apartment sale contracts nationwide in December last year was 26,670. This was about 60% of the average transaction volume (43,274) for the same period over the past five years (2019?2023). Seoul’s sale transaction volume was 2,967, falling below 3,000 on a monthly basis and marking the lowest level in 10 months since February last year (2,598).
Baek Saerom, lead researcher at Real Estate R114, explained, "Although price trends vary by region, nationwide market uncertainties are suppressing buying momentum, and the cooled atmosphere in the sale market is expected to continue for the time being."
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