High-end apartment districts in Seoul saw their declines ease, while gains also cooled in areas dominated by mid- to lower-priced homes. After Songpa-gu turned positive a week earlier, Seocho-gu also shifted to gains, as bargain listings dried up following the end of a suspension of heavier capital gains taxes on multiple-home sellers.
According to the Korea Real Estate Board’s weekly apartment price trend report released Thursday for the fourth week of April, Seoul’s weekly apartment sale prices rose 0.14%.
In northern Seoul, gains slowed in districts including Dongdaemun, Gangbuk and Nowon. The 14 districts in the area rose 0.15% from a week earlier. Dongdaemun-gu increased 0.21%, down from 0.25% the previous week. Gangbuk-gu slowed to 0.16% from 0.24%, Nowon-gu to 0.18% from 0.22%, and Seongbuk-gu to 0.21% from 0.27%. Yongsan-gu was the only district in the area to fall, slipping 0.03%, a move attributed to a short-term surge that tightened listings and pushed end-users to the sidelines.
In southern Seoul, the 11 districts rose 0.13% in the fourth week of April, narrowing the gap with the north. Seocho-gu edged up 0.01% from a week earlier, ending a slide that had continued since the last week of February. Songpa-gu, which turned positive at 0.07% the previous week, rose 0.13%. Gangnam-gu fell 0.02%, but the decline narrowed from -0.06%.
Nam Hyuk-woo, a real estate researcher at Woori Bank, said a series of transactions in discounted listings that began in Songpa-gu has continued steadily into Gangnam and Seocho, and that slightly higher asking prices have been reflected in some price movements. He said, however, that major variables remain — including a second-half tax overhaul plan and the possibility of renewed rate hikes amid inflation — and that prices could stay range-bound for the time being.
Gyeonggi Province rose 0.06%, easing from 0.07% a week earlier. Gwangmyeong climbed 0.31%, led by large complexes in Cheolsan and Haan; Guri rose 0.29%, driven by smaller units in Inchang and Gyomun; and Anyang’s Dongan district gained 0.22%, centered on Pyeongchon and Hogye.
Nationwide, weekly apartment sale prices rose 0.03% in the fourth week of April. The five major metropolitan cities fell 0.02%, and Sejong fell 0.05%. Eight provinces that had been flat for two straight weeks posted a slight 0.01% increase.
* This article has been translated by AI.
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