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| ▲ A view of the apartments around Gangnam from Maebongsan Mountain in Seoul. |
The outlook that house prices will rise in the new year has been further strengthened. The home sales price in Seoul rose 1.27% in January, more than the previous year.
According to the monthly KB housing market trend released by KB Real Estate on the 31st, the forecast index of real estate sales price in Seoul in January was 127, higher than the previous month (124).
This index is a projection of housing prices after 2 to 3 months and is expressed in a range of 0 to 200. If it exceeds 100, it means that the percentage of increase is higher, and if it is less than 100, it means the opposite. About 4,000 brokerages nationwide are surveyed and extracted.
Seoul’s trading price forecast index recorded 109 in September, shortly after the announcement of the August 4 supply measures last year, down from the previous month (118). Since then, it maintained the same level at 109 in October last year, but rose to 115 in November, and maintained a high level, rising to 124 in December and 127 in January this year for three consecutive months.
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| ▲ Trends in the sales price forecast index surveyed by KB Real Estate (Photo Source = Yonhap News) |
KB Real Estate said, “Even in the new year, the expectation that the increase in housing prices in Seoul will continue to rise slightly, but it has been shown.”
On a national basis, the trading price forecast index was 120 this month, down slightly compared to the previous month (125). However, this is still high.
The nationwide trading price forecast index showed more than 120 for the last three consecutive months (122→125→120), which is a high streak, crossing the 120 line in about six years since March 2015 (121).
In January, the home sales price in Seoul rose 1.27%, slightly higher than last month (1.24%).
The rise slowed from 1.66% in November last year to 1.24% last month, but it rose slightly again.
House prices in Yangcheon-gu (3.18%), Nowon-gu (2.19%), Dongdaemun-gu (1.75%), and Gwanak-gu (1.67%) showed high rates of increase.
The metropolitan area (1.40%) also increased from last month (1.29%), while Gyeonggi and Incheon rose 1.72% and 0.66%, respectively.
In Gyeonggi-do, Goyang Ilsanseo-gu (5.13%), Ilsandong-gu (4.15%), and Deokyang-gu (3.04%) rose more than 3%, as well as Yongin Suji-gu (3.00%) and Namyangju (2.55%).
Among the five metropolitan cities (1.09%), Ulsan (1.66%) rose the most, followed by Daegu (1.31%), Daejeon (1.01%), and Busan (1.00%).
Provincial provinces such as Gyeongbuk (1.08%), Gyeongnam (0.84%), and Gangwon (0.61%) also continued to rise.
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