Since the government's June 27 household debt measures announcement, a wait-and-see attitude has deepened, leading to a slowdown in the increase of apartment sales prices in Seoul's three districts of Gangnam (Gangnam, Seocho, Songpa).
According to the Korea Real Estate Board (REB), in the first week of July (as of July 7), the sales price of apartments in Seoul rose by 0.29% compared to the previous week. The increase was lower than the previous week's (0.40%).
By district, Seongdong-gu (0.70%) saw increases mainly around the Geumho and Oksu-dong station areas, Mapo-gu (0.60%) in key complexes in Seongsan and Gongdeok-dong, Gwangjin-gu (0.47%) in areas around Gwacheon and Guui-dong, Yongsan-gu (0.37%) around Seobinggo and Ichon-dong, and Jongno-gu (0.19%) in the Changsin and Hongpa-dong areas.
In Gangnam, Yangcheon-gu (0.55%) rose mainly in Mok and Sinjeong-dong, Seocho-gu (0.48%) around the reconstruction complexes in Jamwon and Banpo-dong, Yeongdeungpo-gu (0.45%) mainly in the Shinchon and Yeouido-dong station areas, and Songpa-gu (0.38%) primarily in Jamsil and Garak-dong. Especially in the three districts considered to be Gangnam (Seocho (0.65%→0.48%), Gangnam (0.73%→0.34%), Songpa (0.75%→0.38%)), all three saw a significant decrease in the increase compared to the previous week.
The Korea Real Estate Board (REB) explained, "While the upward trend in some preferred complexes, such as new constructions and redevelopment projects, continues, the overall rise in inquiries has decreased due to the deepening wait-and-see trend among market participants, reducing the overall increase in Seoul."
National sales prices increased by 0.04%, reducing the increase compared to the previous week (0.07%). The metropolitan area also rose by 0.11% this week, a reduction compared to the previous week (0.17%), while the provinces fell by 0.03%, expanding the decrease compared to the previous week (-0.02%).
Gyeonggi Province rose by 0.04%, decreasing the increase compared to the previous week (0.09%). Gwacheon (0.47%), Seongnam Bundang (0.46%), and Seongnam Sujeong (0.35%) showed upward trends, while Goyang Ilsan-dong (-0.22%) and Pyeongtaek (-0.22%) experienced declines.
Incheon fell by 0.03%, expanding the decrease compared to the previous week (0.02%). Namdong-gu (0.01%) increased, but Jung-gu (-0.06%), Seo-gu (-0.05%), Michuhol-gu (-0.04%), and Gyeyang-gu (-0.02%) showed downward trends.
National apartment rental prices rose by 0.01%, reducing the increase compared to the previous week (0.02%). The metropolitan area (0.05%→0.03%) saw a decreased increase, Seoul (0.07%→0.08%) saw an expanded increase, and the provinces (-0.01%→-0.01%) maintained their decline.
The Korea Real Estate Board (REB) noted, "Although rental prices are being adjusted downward in some outlying areas and older buildings, and mixed trends are observed regionally, demand for rentals continues in areas around major stations and large complexes with good living conditions, leading to sustained overall increases in Seoul."