Last month, house sales and jeonse prices fell to the highest level in the ‘financial crisis’ in 13 years and 8 months
Source = Korea Real Estate Agency
[인포스탁데일리=임유진 기자] The monthly decline in housing prices across the country last month was the largest in 13 years and 8 months due to interest rate hikes and other factors.
This is similar to the level of the global financial crisis. The decline in housing prices in Seoul nearly doubled from the previous month.
According to data released by the Korea Real Estate Agency on the 17th of the ‘22.09 National Housing Price Trend’, housing prices in Seoul (apartments, detached houses, and row houses) fell by 0.49% from the previous month.
This is the biggest drop in 13 years and 8 months since January 2009, when house prices plunged by 0.55% due to the global financial crisis.
Housing prices in Seoul fell 0.47%, double the level of the previous month (0.24%), and the extent of the decline increased.
In particular, apartment prices in Seoul recorded -0.75% last month from -0.45% in August. This is the monthly rate of change, the largest decline in 10 years and 3 months since June 2012 (-0.79%).
The price of row houses in Seoul fell from -0.07% to -0.14%. On the other hand, detached houses rose 0.14%, continuing the upward trend, but the increase was less than half of the previous month (0.29%) as the buying trend decreased.
Preset prices also plummeted. Jeonse prices nationwide fell 0.50% last month, the biggest drop since January 2009 (-0.98%), just like sales.
The Jeonse price of houses in Seoul fell by 0.45% and that of apartments by 0.67%, more than double the previous month (-0.16%, -0.25%).
The monthly rental price continued to rise as the conversion of jeonse to monthly rent accelerated.
However, the monthly rent in Seoul rose from 0.09% in August to 0.10% in September. The monthly rent for apartments in Seoul also rose 0.13%, up 0.1 percentage point (p) more than the previous month (0.12%).
By Lim Yu-jin, staff reporter qrqr@infostock.co.kr
