With Seoul leading the rise in housing prices, national apartment sales prices continued their upward trend. In particular, areas sensitive to policy issues, such as Sejong City, showed significant increases.
According to Real Estate R114 on the 2nd, the national apartment sales price in the first week of this month rose by 0.18% compared to the previous week. The increase was significantly greater than last week's 0.03%.
Seoul saw a 0.39% increase, leading the rise in the metropolitan area, which recorded a 0.22% increase. In contrast, Gyeonggi and Incheon, excluding Seoul, had a marginal change rate of 0.01%, remaining stable. The five major cities recorded a 0.03% increase, while other regions saw a 0.10% increase, indicating weak overall movement outside of Seoul and Sejong. Among the 17 cities and provinces nationwide, 15 showed increases, 1 was stable, and 1 declined, indicating a predominance of rising regions.
In terms of individual regions, the increases were significant in Sejong (0.46%) and Seoul (0.39%), while Gyeongsangbuk-do was the only area among the 17 that saw a decrease of 0.04%.
The national apartment rental price dropped by 0.32%. Seoul saw a decrease of -0.32%, the metropolitan area -0.34%, Gyeonggi and Incheon -0.36%, the five major cities -0.24%, and other regions -0.27%, with all major areas experiencing significant declines. Of the 17 cities and provinces nationwide, 16 fell, with only Jeollabuk-do rising by 0.05%.
Real Estate R114 noted that "within a month after the impeachment decision on the 4th of last month, major presidential candidates announced various pledges for regional balanced development, leading to differentiated price movements in regions sensitive to policy issues." They added, "In particular, as the transfer of the presidential office and National Assembly becomes a hot topic, the trend of increasing prices in Seoul, focused on the 'one good home' and the 'relaxation of regulations on redevelopment projects,' continues to persist."
They continued, "In the case of the rental market, which is most sensitive to actual demand, the upward trend continues, but given that we are entering the spring moving season in earnest, the patterns of decline and increase are repeating weekly and the direction remains unclear." They explained, "This is interpreted as reflecting the fact that demanders have been opting for renewals rather than new contracts due to the political uncertainty that has heightened economic contraction since December of last year through May of this year."