In the Gangnam three districts (Gangnam, Seocho, Songpa) and Bundang, the proportion of transactions at rising prices accounted for more than half in major high-end areas in Seoul and the metropolitan area, leading to a continued upward trend in national apartment prices.
According to Real Estate R114 on the 23rd, the national apartment sales price in the fourth week of this month increased by 0.13% compared to last week. The increase was significantly larger than the previous week (0.01%).
Seoul led the price increase with a rise of 0.20%, while the metropolitan area increased by 0.14%. It rebounded from a decline of 0.05% the previous week. The Gyeonggi and Incheon regions rose by 0.06%. The five major metropolitan cities and other regions increased by 0.04% and 0.15%, respectively. Among 17 cities and provinces nationwide, 12 saw increases, while 5 experienced declines, indicating that rising areas were in the majority.
By individual regions, Sejong (1.13%) and Seoul (0.20%) showed increases, while Chungbuk (-0.14%), Gangwon (-0.08%), and Jeonnam (-0.08%) declined.
National apartment jeonse prices increased by 0.25%. Seoul recorded an increase of 0.30%, the metropolitan area 0.28%, Gyeonggi and Incheon 0.26%, five major metropolitan cities 0.18%, and other regions 0.10%, showing consistent upward trends across all major areas. All 17 cities and provinces nationwide experienced increases, indicating strong upward pressure.
Real Estate R114 noted, "While the rental market has shown a prolonged upward trend, the sales market has confirmed a remarkable rise mainly in Seoul, the metropolitan area, and Sejong City," adding, "Demand is concentrated in Seoul and the metropolitan area, with the proportion of rising transactions exceeding half."
It further explained, "While most regions in the provinces are either declining or stagnating, only Sejong City remains hot. Major presidential candidates are rapidly presenting blueprints for the administrative capital in Sejong City, reflecting expectations with price surges of over 1% per week. To resolve the extreme situation where only a few regions are heating up while others are stagnating, it's true that the supply measures proposed by major presidential candidates are essential, but it is also urgent to devise demand dispersion policies to distribute the excessively concentrated demand."