Apartment Transaction and Jeonse Prices Fall Across Country in First Week of February
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Apartment Transaction and Jeonse Prices Fall Across Country in First Week of February
Prices in the Seoul metropolitan area plunge 0.58 percent, up from a previous 0.44 percent drop

27(Mon), Mar, 2023




President Son Tae-rak of Korea Real Estate Board (REB). (Photos: REB)


A pricing and trend survey of apartments across the nation, conducted by Korea Real Estate Board (REB) in the first week of February, showed that apartment transaction and jeonse prices dropped 0.49 percent and 0.76 percent, respectively. 

Apartment prices across the nation declined 0.49 percent in the first week of February, up from a 0.38 percent drop in the previous week. 

Those in the Seoul metropolitan area plunged 0.58 percent, up from a 0.44 percent drop.
 
Prices in Seoul fell off 0.31 percent, up from a 0.25 percent decrease, while those in provincial areas dropped 0.4 percent, up from a 0.32 percent decline. 

Prices in Daejeon Metropolitan City declined 0.49 percent, up from a 0.4 percent drop. Prices in Sejong City dropped 1.15 percent, up from a 1 percent decline.

By city and province, Sejong City dropped 1.15 percent, Gyeonggi-do, 0.75 percent, Daegu, 0.65 percent, Incheon, 051 percent, Busan, 0.5 percent, Daejeon, 0.45 percent, Ulsan, 0.37 percent, Gwangju, 0.37 percent; and Gyeongsangnam-do, 0.36 percent. 

Among the relevant 176 cities, counties and wards, the number of places whose prices rose was one, the same as the previous period. 

The number of places whose prices remained unchanged dropped from three to zero. And the number of places whose prices declined rose from 172 to 175.





Prices in the Seoul metropolitan area dropped 0.58 percent: those in Seoul, Incheon, and Gyeonggi-do dropped 0.31 percent, 051 percent and 0.75 percent, respectively. 

Prices in Seoul declined 0.31 percent, up from a 0.25 percent drop. Buying inquiries and transaction amounts increased a little bit due to the easing of market interest rates, but amid a wait-and see attitude of not narrowing desired prices between sellers and buyers, brisk transactions were not made, but declining trends were retained with a declining trend with a focus on urgent sales. 

Prices in 14 ward areas in Gangbuk (north of the Han River) declined 0.28 percent. 

Those in the Seodaemun-gu area plunged 0.46 percent with a focus on large-size apartment complexes in Bukahyeon, Hyeonjeo, Hongjae and Hongeun-dong. 

Prices in the Dongdaemun-gu area declined 0.38 percent with a focus on large-sized apartment complexes in Imun, Jangan and Hwigyeong while those in the Gwangjin-gu area dropped 0.36 percent with a focus on large-sized apartment complexes in Jangyang, Gwangjang and Gui-dong. 

Those in the Gangbuk-gu area dropped 0.36 percent with a focus on large-sized apartment complexes in Mia-dong. 

Prices in ward areas in Gangnam (south of the Han River) declined 0.33 percent. 

Prices in the Gangseogu area plunged 0.58 percent while those in Gangdong-gu area dropped 0.48 percent. Prices in the Gwanak-gu area dropped 0.47 percent. 




A view of Korea Real Estate Board headquarters in Daegu.

   
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