2024-05-26 12:52:42
Condominium costs in Seoul rebounded by a mean of 95%
Jiangnan, 99% of the highs 2-3 years in the past
Panoramic view of residences in central Seoul. [매경DB]
Whereas residence costs in Seoul have rebounded considerably, costly areas equivalent to Gangnam-gu, Seocho-gu and Yongsan-gu have virtually returned to their highs two or three years in the past.
On the twenty sixth, Actual Property R114 surveyed the typical value per family utilizing a pattern of 1.16 million residences in Seoul. As of the seventeenth, the typical residence value in Seoul was 1.29921 billion received, which is 95% of the earlier excessive in 2021 (1.37147 billion received). It appears to have recovered to regular ranges.
The 1.16 million residence households sampled by Actual Property R114 embody most residences in Seoul, excluding rental residences and small-scale “indifferent residences.” The common value per house is a quantity that displays the asking value, market value, and space common value calculations.
The areas the place residence costs have recovered the quickest are Jiangnan District and Yongshan District. The common residence value in Gangnam-gu is 2,581.35 million received, which has recovered to 99% of the 2021 excessive (2,609.49 million received). Yongsan District recovered to 1,866.43 million received, which is 99% of the historic excessive in 2022 (1,884.32 million received).
In response to calculations, Seocho-gu has risen to 98% of the earlier highest level (2,831,100 received in 2022), reaching 2,771.47 billion received. Contemplating that the typical home value in Seoul (1,299.21 million received) is 95% of the earlier excessive (2021), residence costs in these areas have recovered comparatively shortly.
Jongno-gu (98%), Yeongdeungpo-Yangcheon-gu (97%), Seongdong-Eunpyeong-gu (96%), and Jungnang-gu (95%) even have larger restoration ranges than the Seoul common.
The slowest restoration in residence costs is in Daofeng District. It was 626.24 million received, sustaining 85% of the earlier excessive (739.75 million received in 2021). In Dobong-gu, Seoul residence costs continued to fall regardless of rising for 9 consecutive weeks, recording flat (0.00%) solely final week. Gwanak-gu (86%), Nowon/Gangbuk-gu (87%), Gangdong-gu (88%), Jung-gu (89%), Guro/Seongbuk-gu (greater than 90%), Gangseo-gu (91%), Dong Daemun-gu (92%), Dongjak/Seodaemun Songpa-gu (93%), and Mapo Gwangjin-gu (94%) are beneath common.
“It appears that evidently costs in high-priced areas rebounded first, adopted by different areas to fill the hole,” mentioned Jihae Yoon, senior researcher at Actual Property R114. Seoul’s No-gu, Do-gu, and Gang-gu (Nowon-gu, Dobong-gu and Jiangbei District) are nonetheless recovering slowly, “ultimately we’ll see peak matching,” he mentioned.
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