The price of apartments in Seoul recorded a six-week consecutive rise as the selling prices in some complexes increased and the number of rising transactions expanded. Nationwide, apartment prices showed a 15-week consecutive decline, but the decrease has narrowed.
According to the Korea Real Estate Board, the nationwide apartment prices fell by 0.01% in the first week of March (as of March 3). The decrease shrank compared to the previous week (-0.02%).
The price of apartments in Seoul rose by 0.14%, a larger increase compared to the previous week (0.11%). By district, Songpa District (0.68%) saw increases mainly in the Jamsil and Sincheon areas, Gangnam District (0.52%) in the Cheongdam and Apgujeong areas, Seocho District (0.49%) in the Banpo and Jamwon areas, Gangdong District (0.10%) in the Goddeok and Sangil areas, and Yangcheon District (0.08%) in the Sinjeong and Mokdong areas.
In Gangbuk, Nowon District (-0.03%) declined mainly in the Sanggae and Junggye areas, and Dobong District (-0.02%) fell primarily in the Ssangmun and Dobong areas. However, Gwangjin District (0.11%) saw increases mainly in the Gwangjang and Jayang areas, Mapo District (0.11%) in the Yeomni and Ahyeon areas, and Yongsan District (0.10%) in the Ichon and Seobinggo areas.
The Korea Real Estate Board noted, "While selling prices are rising and rising contracts are being signed in reconstruction and major preferred complexes, the overall price increase in Seoul has continued amid a wait-and-see attitude among buyers in some regions and complexes."
In the metropolitan area, prices rose by 0.02% this week, an expansion compared to the previous week (0.01%), while prices in the provinces fell by 0.04%, reducing the decline compared to the previous week (-0.05%).
In the Gyeonggi Province, prices declined by 0.04%, maintaining the decline from the previous week, and Incheon also fell by 0.03% this week, sustaining the previous week's decline.
In Gyeonggi Province, areas such as Gwacheon (0.51%) and Suji District in Yongin (0.16%) experienced price increases, while areas such as Gimpo (-0.29%), Gwangmyeong (-0.19%), and Paju (-0.14%) saw declines. In Incheon, districts such as Gyeyang District (-0.11%), Michuhol District (-0.06%), Yeonsu District (-0.05%), Bupyeong District (-0.03%), and Dong District (-0.03%) showed downward trends.
The nationwide apartment jeonse prices shifted from stable to an increase of 0.01% compared to the previous week. The metropolitan area (0.01%→0.02%) expanded its rising range, while Seoul (0.03%→0.03%) maintained its rise, and the provinces (0.00%→0.00%) remained stable.
The Korea Real Estate Board explained, "While prices of listings in some outer regions and older properties were adjusted downward, price increases were recorded in preferred complexes such as those near stations and in good school districts, leading to a sustained overall increase in Seoul."