The apartment prices in the metropolitan area, which had been breathing for a while due to the government’s announcement of the second·4 housing supply plan and the Lunar New Year holidays, were slightly increased, but the rise again expanded. In Seoul, while reconstruction complexes in the Gangnam area led the price increase, a transaction was reported centering on reconstructed apartments.
According to the apartment price trend for the fourth week of February (as of the 22nd) announced by the Korea Real Estate Agency on the 25th, apartment sales prices across the country rose 0.25% from the previous week, recording the same increase rate as last week. The metropolitan area expanded from 0.30% last week to 0.31% this week. Apartment prices in the metropolitan area rose 0.33% every week for three consecutive weeks from the 4th week of January to the 2nd week of February, the highest since 2012 when the Real Estate Agency prepared related statistics. The increase was reduced to 0.30% last week due to the effects of the February 4 measures and the Lunar New Year holiday, but it increased again this week.
The Real Estate Agency analyzed that the prices of major apartments in the metropolitan area are rising in anticipation that the accessibility to Seoul will improve due to favorable traffic conditions such as GTX (Great Express Railway). The fact that the house price is relatively cheaper than that of Seoul also had an effect. Incheon increased from 0.34% last week to 0.39% this week, and the economy recorded 0.42%, the same as last week. In Gyeonggi-do, Uiwang city (0.92%), which is expected to stop on the GTX-C line, followed by Ansan city (0.80%), Namyangju city (0.71%) Uijeongbu city (0.70%), Yangju and Siheung city (0.64%).
Apartment prices in Seoul rose by 0.08%, the same rate as last week. In the Gangnam area, Seocho-gu (0.11%) focused on the reconstruction and new construction of Banpo-Jamwon-dong, and Gangnam-gu (0.10%) increased the increase to the Apgujeong-dong reconstruction. Songpa-gu (0.10%) led the house price in Seoul, mainly in Sincheon and Jamsil-dong. Yangcheon-gu (0.11%) focused on reconstruction in Mok-dong and Sinjeong-dong, and Mapo-gu (0.11%) focused on the Sangam-dong station area and reconstruction, respectively, recording the highest rate of increase in Seoul this week along with Seocho-gu. According to the Ministry of Land, Infrastructure and Transport’s actual transaction price system, 93㎡ dedicated to `Shinbanpo 2` in Jamwon-dong, Seocho-gu, Seoul, was traded at 2.66 billion won last month, recording the highest price. An official from the Real Estate Agency said, “After the 2nd and 4th measures, the Gangbuk region generally showed a wait and see, and the increase was maintained or reduced, and the Gangnam region expanded due to the expectation of reconstruction after the Lunar New Year holiday.” “The government announced the Gwangmyeong Siheung New Town Plan We will also have to watch the impact of this.”
The nationwide apartment rental price rose 0.19%, which was the same as the previous week. The metropolitan area rose 0.18%, the same as Jeonju, and the local area slightly decreased from 0.20% to 0.19%. Seoul’s rise declined from 0.08% to 0.07%, slowing for five consecutive weeks after the third week of January.
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