Apartment prices in Seoul also fell the most in 9 years and 1 month
Buying trend disappears due to concerns over interest rate hike and house price fall… Ho pulls down
With the recent housing market downturn, apartment prices in Seoul fell for the first time in 9 years and months, and apartment prices in the metropolitan area fell the most in 10 years.
Amid the steep trade cliff, deals centered on quick sales are driving down the asking price.
According to a survey by the Korea Real Estate Agency on the 8th, apartment prices in Seoul this week fell 0.15% from the previous week.
This is the largest drop in 9 years and 1 month since the survey on August 5, 2013 (-0.15%).
Apartment prices in Seoul have been declining for 15 consecutive weeks since the survey on May 30 (-0.01%).
The decline has also expanded for the past five weeks, and the trough of the recession is deepening.
The recent downturn in trading is serious.
According to the Seoul Real Estate Information Plaza, the number of apartment transactions in Seoul recorded a record low at 639 in July, and only 440 in August, only one-ninth of the same month last year (4,64).
An official from the Korea Real Estate Agency said, “Prices for general listings are being lowered as only urgent sales are being sold intermittently, while buying sentiment has severely contracted due to concerns regarding falling interest rates on loans and falling housing prices.”
While the 25 districts of Seoul fell all at once, apartment prices in Nowon-gu and Dobong-gu fell 0.30% each, recording the largest drop in the Seoul area.
It is the largest drop in Nowon-gu in 9 years and 9 months since the survey on December 3, 2012 (-0.39%), and in Dobong-gu in 9 years and 7 months following the survey on February 11, 2013 (-0.62%).
Gangnam area is also weak.
In Songpa-gu, the decline expanded from -0.12% last week to -0.16% this week, and Gangnam-gu (-0.09%), Seocho-gu (-0.03%), and Gangdong-gu (-0.09%) all showed a larger drop than last week.
In Songpa-gu, in the case of representative apartments such as Els, Recents, and Trizium in Jamsil-dong, the land transaction permission zone, the recent transaction price of an exclusive area of 84 square meters was around 2 billion won, down 600-700 million won from the highest price.
Incheon maintained the same level as last week (-0.29%), but apartment prices in Gyeonggi-do fell slightly from -0.21% last week to -0.22% this week. this has been enlarged
The decline in apartment prices in the metropolitan area is the largest in 10 years since the September 10, 2012 (-0.22%) survey.
In Gyeonggi-do, apartment prices in Gwangmyeong and Hwaseong fell 0.39%, a bigger drop than last week (-0.33% and -0.34%, respectively).
Gyeonggi-do Yangju (-0.39%), Osan (-0.37%), Gwangju (-0.35%), and Siheung-si (-0.36%) also suffered a large drop of 0.3%.
While apartment prices in all 17 metropolitan cities and provinces across the country fell, the nationwide apartment price fell 0.17% this week, a steeper decline than last week (-0.15%).
Jeonse prices are also continuing to weaken ahead of the fall moving season.
Jeonse prices for apartments in Seoul fell by 0.25%, a sharper drop than last week (-0.22%).
Jeonse prices for apartments in the metropolitan area fell 0.21% and 0.16% nationwide, respectively, down more than last week (-0.20% and -0.15%, respectively).
/yunhap news
