Seoul apartment prices rose at a slower pace this month, while Gangnam-gu posted a second straight monthly decline, according to a KB Kookmin Bank survey.
KB Real Estate said in its April nationwide housing price report released Saturday that, as of a survey conducted April 13, Seoul apartment sale prices rose 1.00% this month, easing from a 1.43% gain in March.
Outer districts led the increase. Dongdaemun-gu recorded the biggest rise at 1.99%, followed by Gangseo-gu at 1.88%, Gangbuk-gu at 1.75% and Seongbuk-gu at 1.69%.
Gangnam-gu, however, fell 0.29%, extending its drop from -0.16% in March and marking its second consecutive monthly decline.
The "KB Leading Apartment 50" index slipped to 99.3 this month from 99.8 in March, staying below the baseline for a second month. KB calculates the index by tracking changes in the market capitalization of the top 50 apartment complexes, based on the number of households multiplied by price.
KB Real Estate said the shift reflected transactions centered on bargain listings in areas with large clusters of high-priced complexes as the May 9 end date nears for a temporary suspension of heavier capital gains taxes on multi-homeowners.
A polarization gauge known as the "quintile ratio" fell for a second month, to 6.7 this month from 6.8 in March and 6.9 in February. The ratio compares the average price of the top 20% of homes with the bottom 20%; a higher figure indicates wider disparity.
Outside Seoul, apartment prices in the greater Seoul area rose 0.43% in Gyeonggi province and 0.04% in Incheon. In Gyeonggi, Yongin’s Suji district jumped 2.08%, the highest increase, followed by Seongnam’s Jungwon district at 1.89%, Gwangmyeong at 1.87%, Guri at 1.70%, Anyang’s Dongan district at 1.56%, Hanam at 1.53% and Seongnam’s Sujeong district at 1.23%.
Across the capital region, apartment prices rose 0.55%. The five major metropolitan cities — Gwangju, Daejeon, Daegu, Ulsan and Busan — rose 0.04%, while other regions gained 0.14%.
Nationwide, apartment prices increased 0.32%. Jeonse deposit prices for apartments rose 0.44% nationwide, including 0.65% in the capital region, 0.31% in the five major cities and 0.17% in other regions.
In the capital region, jeonse prices rose 0.86% in Seoul, 0.60% in Gyeonggi and 0.37% in Incheon.
In Seoul, Gangbuk-gu’s jeonse prices surged 3.86%, setting a record-high increase, KB said.
Seongbuk-gu rose 1.86%, Seongdong-gu 1.32%, Gwanak-gu 1.31%, Dobong-gu 1.15%, Gangseo-gu 1.12% and Dongdaemun-gu 1.00%.
Seoul’s median apartment jeonse deposit reached 600 million won this month, topping 600 million won for the first time in 3 years and 7 months since September 2022, when it stood at 600.658 million won.
Including apartments as well as detached homes and multi-family and row houses, nationwide home sale prices rose 0.22% this month and jeonse prices increased 0.31%.
This month’s nationwide outlook indexes rose from the previous month, with the home sale price outlook index at 102.0, up 2.1 points, and the jeonse price outlook index at 117.5, up 1.6 points.
In Seoul, the sale price outlook index climbed 11.2 points to 112.0 and the jeonse outlook index rose 7.0 points to 132.4. Both remained above the 100 baseline, indicating more respondents expect prices to rise.
* This article has been translated by AI.
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