Seoul's apartment prices have risen for the 92nd consecutive week, but the increase has remained stagnant at 0.07% for the past two weeks. While the Gangnam Three Districts (Gangnam, Seocho, and Songpa) continue to decline, both Seongdong and Gangdong districts have also turned negative. In contrast, northern Seoul has maintained a relatively high growth rate, and Gyeonggi Province has expanded its increase.
According to the Korea Real Estate Agency's report on weekly apartment price trends for the second week of November (as of November 9), Seoul's apartment sale prices rose by 0.07% compared to the previous week. This marks the 92nd week of continuous growth, but the rate of increase remains unchanged from the prior week. Gyeonggi Province saw a rise of 0.21%, up from 0.20% the previous week.
The Gangnam Three Districts continued their downward trend. Specifically, Seongdong (-0.02%) and Gangdong (-0.01%) have turned negative. Songpa experienced a 0.35% drop, widening its decline from the previous week's -0.17%. Gangnam (-0.25%) and Seocho (-0.26%) also saw decreases, particularly in the areas of Yeoksam and Dogok-dong, and Jamwon and Banpo-dong, respectively. The average change rate for the 11 districts south of the Han River was recorded at -0.04%.
Conversely, northern Seoul showed relative strength. The average increase rate for the 14 districts north of the Han River was 0.20%, slightly up from 0.19% the previous week. Seongbuk-gu (0.39%) saw growth centered around the Jeongneung and Donam-dong subway stations, while Gangbuk-gu (0.32%), Seodaemun-gu (0.29%), and Dongdaemun-gu (0.28%) continued their upward trends. However, Seongdong-gu (-0.02%) experienced a decline, particularly in the Okus and Hahwangsimni-dong areas.
The Real Estate Agency noted, "While contracts for preferred properties, such as large complexes and those near subway stations, have been signed, some regions are experiencing price reductions and a wait-and-see attitude, leading to mixed trends across different areas."
The rental market also maintained its upward trajectory. Seoul's apartment rental prices rose by 0.17%, matching the previous week's growth rate. Significant increases were seen in northern districts such as Dobong-gu (0.37%), Gangbuk-gu (0.35%), and Seongbuk-gu (0.34%), while Gangnam-gu (0.27%) and Geumcheon-gu (0.27%) also rose. Gyeonggi Province and Incheon saw increases of 0.17% and 0.11%, respectively.
Nationwide, apartment sale prices rose by 0.07%, while rental prices increased by 0.10%. The Real Estate Agency analyzed that the demand for rentals continues to rise, particularly in large complexes and areas with good living conditions, sustaining the upward trend in rental prices.
According to the Korea Real Estate Agency's report on weekly apartment price trends for the second week of November (as of November 9), Seoul's apartment sale prices rose by 0.07% compared to the previous week. This marks the 92nd week of continuous growth, but the rate of increase remains unchanged from the prior week. Gyeonggi Province saw a rise of 0.21%, up from 0.20% the previous week.
The Gangnam Three Districts continued their downward trend. Specifically, Seongdong (-0.02%) and Gangdong (-0.01%) have turned negative. Songpa experienced a 0.35% drop, widening its decline from the previous week's -0.17%. Gangnam (-0.25%) and Seocho (-0.26%) also saw decreases, particularly in the areas of Yeoksam and Dogok-dong, and Jamwon and Banpo-dong, respectively. The average change rate for the 11 districts south of the Han River was recorded at -0.04%.
Conversely, northern Seoul showed relative strength. The average increase rate for the 14 districts north of the Han River was 0.20%, slightly up from 0.19% the previous week. Seongbuk-gu (0.39%) saw growth centered around the Jeongneung and Donam-dong subway stations, while Gangbuk-gu (0.32%), Seodaemun-gu (0.29%), and Dongdaemun-gu (0.28%) continued their upward trends. However, Seongdong-gu (-0.02%) experienced a decline, particularly in the Okus and Hahwangsimni-dong areas.
The Real Estate Agency noted, "While contracts for preferred properties, such as large complexes and those near subway stations, have been signed, some regions are experiencing price reductions and a wait-and-see attitude, leading to mixed trends across different areas."
The rental market also maintained its upward trajectory. Seoul's apartment rental prices rose by 0.17%, matching the previous week's growth rate. Significant increases were seen in northern districts such as Dobong-gu (0.37%), Gangbuk-gu (0.35%), and Seongbuk-gu (0.34%), while Gangnam-gu (0.27%) and Geumcheon-gu (0.27%) also rose. Gyeonggi Province and Incheon saw increases of 0.17% and 0.11%, respectively.
Nationwide, apartment sale prices rose by 0.07%, while rental prices increased by 0.10%. The Real Estate Agency analyzed that the demand for rentals continues to rise, particularly in large complexes and areas with good living conditions, sustaining the upward trend in rental prices.
* This article has been translated by AI.
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