2023-11-25 01:55:00
[시사저널e=노경은 기자] Apartment prices nationwide stopped rising following 19 weeks and returned to flat (0.00%). In particular, there is analysis that the real estate market has entered a correction phase as sales prices in Gangnam-gu, Seoul, which led the housing market, turned downward for the first time in 31 weeks.
According to the national weekly apartment price trend for the third week of November (as of the 20th) announced by the Korea Real Estate Board on the 25th, the rate of change in the national apartment sale price index this week recorded 0.00%. Since turning upward in the third week of July, the upward trend has stopped in 19 weeks.
Seoul continued its upward trend, rising 0.03%. However, the increase decreased from 0.05% last week, showing a slowdown in the upward momentum.
The increase in the metropolitan area (0.03 → 0.01%) also decreased, and the regional rate (0.02 → 0.00%) remained flat.
In particular, Gangnam-gu, Seoul attracted attention with a drop of 0.02%. Gangnam-gu declined for only 31 weeks. Experts believe that prices in Gangnam-gu, the representative region that led the rise in housing prices this year, are significant in that they are an indicator of the current real estate market sentiment.
An official from the Real Estate Institute said, “Even when the market was sluggish early this year, there was a single apartment in Gangnam that set a record price. “There was good news regarding reconstruction and demand to move to a higher-end area supported prices, but the fact that Gangnam took a downward turn can be seen as a sign that buying sentiment has waned,” he said.
Seocho (0.00%) remained flat, and Songpa (0.07 → 0.05%) showed a reduced increase.
Among the 25 districts, Gangbuk-gu (-0.01→-0.03%), which was the first to decline, and Nowon-gu (-0.01→-0.04%), which followed, both expanded their declines. In addition, Dobong-gu (-0.01%) also turned downward this week, with the sales price indexes of Noh, Provincial, and River all showing a downward trend.
Incheon (-0.05%) fell for three consecutive weeks. The economy (0.02%) has also continued to show a downward trend since last month.
The five major metropolitan cities turned downward from last week’s flat to -0.02% this week, and Sejong (-0.02%) also turned downward as prices fell mainly in Jochiwon-eup and Naseong-dong.
Meanwhile, nationwide apartment rental prices continued their upward trend, rising by 0.10%. However, the increase decreased from 0.11% last week.
Seoul rose 0.17% compared to the previous week. In particular, Yangcheon-gu (0.29%), Gangseo-gu (0.26%), Gangbuk-gu and Nowon-gu (0.23%), and Yongsan-gu (0.21%) showed increases that exceeded the average.
The Real Estate Institute explained that the shortage of listings continues, mainly in areas with good housing conditions, and transactions and listing prices are increasing.
However, due to the rise in market interest rates and the resulting financial cost burden, the prices of major complexes showed a mixed trend of rise and fall, and the increase was less than last week’s 0.19%.
Like Seoul, Incheon (0.05 → 0.03%) and Gyeonggi (0.21 → 0.19%) also showed a slight increase compared to the previous week, but still continued to rise.
The five major metropolitan cities (0.03 → 0.02%), Sejong (0.28 → 0.24%), and eight provinces (0.04 → 0.04%) all maintained an upward trend.
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