Seoul·Daejeon followed by 4% rise…Jeju Island fell
Seocho-Gangnam-gu, Seoul, in the fourth quarter rose in anticipation for reconstruction
[서울=뉴스핌] Reporter Park Woo-jin = Sejong City land prices rose the most in the country last year.
According to the Ministry of Land, Infrastructure and Transport on the 26th, the land price in Sejong City rose 10.62% last year, ranking the first in the nationwide increase rate. The expectation for the relocation of administrative capital and the creation of a new industrial complex seems to have led to an inflow of investment demand. National land prices rose 3.68%.
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| National land price fluctuation rate and land transaction volume in the fourth quarter of 2020 [자료=국토교통부] |
Following Sejong City, Seoul (4.80%) and Daejeon (4.58%) showed high growth rates. On the other hand, Jeju Island (-1.93%) was the only country in the country where land prices fell as tourists decreased due to the Corona 19 impact.
Sejong City (3.60%) showed the highest rate of increase in national land prices in the fourth quarter, while Nam-gu (2.36%) and Busanjin-gu (2.07%) in Busan showed a high rate of increase due to the influence of investment demand that flocked to the balloon effect before designation of the target area. .
In Seoul, Seocho-gu showed a high rate of increase of 1.46% and Gangnam-gu showed a high rate of 1.44%. Seocho-gu showed a high rate of increase in anticipation for the Banpo area reconstruction project. In Gangnam-gu, the reconstruction of Apgujeong-dong and the development of Hyundai Motor Global Business Center (GBC) and GTX-A led the land price rise.
On the other hand, land prices in Seogwipo City (-0.28%) and Jeju City (-0.08%) in Jeju fell.
National land prices in the fourth quarter rose 0.96%. It increased by 0.01 percentage points (p) from the third quarter of last year (0.95%) and decreased by 0.05 percentage points from the fourth quarter of 2019 (1.01%).
The land transaction volume was 952,000 parcels (561.4 km2), which was 0.9 times the area of Seoul. It increased 8.3% from the third quarter of last year and 12.6% from the same period last year. After recording a large transaction volume of 365,000 lots in July last year, it has stabilized with 250,000 ~ 260,000 lots in August-October, and has been increasing by recording 309,000 lots in November.
An official from the Ministry of Land, Transport and Maritime Affairs said, “The rate of change in land price and transaction volume is showing an upward trend,” and “We plan to actively respond to abnormalities while closely monitoring the possibility of overheating in the land market.”