▲ Apartment complex in Dongtan
Major areas in the southern Gyeonggi region, including the so-called semiconductor belt, continued to show strength, with apartment sales prices in Dongtan-gu, Hwaseong-si, Gyeonggi-do, recording a high weekly growth rate of over 1 percent for the past week.
While the growth rate of sales prices in Seoul slowed slightly, the cumulative rise in jeonse (long-term deposit rental) prices this year has nearly reached that of sales prices.
According to the weekly apartment price trends for the fifth week of June (as of June 29) released by the Korea Real Estate Board on July 2, apartment sales prices in Seoul rose by an average of 0.27 percent compared to the previous week.
The growth rate narrowed by 0.03 percentage points.
The Korea Real Estate Board stated, "Demand continues to be centered on major complexes, such as those undergoing reconstruction, popular areas near subway stations, and large-scale complexes, leading to consistent buying inquiries and rising transaction prices, which pushed up prices across Seoul as a whole."
Areas ranked in the middle or lower tiers, such as Dobong-gu (0.37 percent), Dongdaemun-gu (0.36 percent), Seongbuk-gu (0.36 percent), Guro-gu (0.35 percent), Nowon-gu (0.33 percent), and Jungnang-gu (0.32 percent), showed high growth rates due to the continued influx of actual housing demand.
Among the three districts in Gangnam, the growth rate in Songpa-gu (0.32 percent) increased by 0.03 percentage points from the previous week, while Gangnam-gu (0.21 percent) and Seocho-gu (0.19 percent) saw their growth rates narrow by 0.14 percentage points and 0.01 percentage points, respectively.
Apartment sales prices in Seoul have risen for 73 consecutive weeks since turning upward in the first week of February last year.
The results of this survey only reflect market conditions up to the day before the announcement on June 30 regarding the designation of Dongtan-gu in Hwaseong, Giheung-gu in Yongin, and Guri as regulated areas (adjustment target areas and speculative zones) and land transaction permit zones.
Although the growth rate in Dongtan-gu (1.46 percent) narrowed by 0.19 percentage points from the previous week, prices remained at a high level, driven by large-scale complexes in Cheonggye-dong and Yeongcheon-dong near Dongtan Station.
The cumulative growth rate for Dongtan this year is 13.00 percent.
Giheung-gu (0.39 percent), which was designated as a regulated area along with Dongtan, saw its growth rate increase by 0.18 percentage points compared to the previous week, and Guri rose by 0.30 percent.
In addition, Sujeong-gu (0.43 percent) and Bundang-gu (0.41 percent) in Seongnam, Yeongtong-gu (0.41 percent) in Suwon, Dongan-gu (0.39 percent) in Anyang, and Gwangmyeong (0.38 percent) also showed strength.
The Gyeonggi region as a whole rose by 0.19 percent.
Attention is focused on whether the designation of Dongtan, Giheung, and Guri as regulated areas and land transaction permit zones—which reduces the loan-to-value (LTV) ratio from 70 percent to 40 percent and effectively blocks gap investment (purchasing a home with a jeonse deposit)—will lead to a slowdown in the upward trend.
Incheon rose by 0.04 percent, and the Seoul metropolitan area as a whole increased by 0.20 percent.
Non-metropolitan areas (0.00 percent) remained flat for the fifth consecutive week.
The five major metropolitan cities fell by 0.01 percent, while Sejong and the eight provinces (0.00 percent each) saw no price changes.
Nationwide, sales prices rose by an average of 0.09 percent.
Nationwide, apartment jeonse prices rose by 0.11 percent from the previous week.
Although the growth rate in Seoul (from 0.35 percent to 0.30 percent) narrowed, prices rose overall as demand continued to flow into preferred complexes, such as those near subway stations with good living conditions and those in strong school districts.
Seongbuk-gu (0.48 percent) saw a high growth rate, mainly in large-scale complexes in Gireum-dong and Jeongneung-dong, while Dobong-gu (0.47 percent), Seongdong-gu (0.46 percent), Nowon-gu (0.42 percent), Geumcheon-gu (0.42 percent), Gangdong-gu (0.42 percent), and Songpa-gu (0.39 percent) also experienced significant increases in jeonse prices.
The cumulative rise in Seoul jeonse prices this year reached 5.10 percent, nearly the same level as the sales price growth rate (5.11 percent).
In Gyeonggi (0.15 percent), jeonse prices in Jungwon-gu in Seongnam (0.55 percent), Dongtan-gu in Hwaseong (0.42 percent), and Gwangmyeong (0.41 percent) rose sharply.
Incheon rose by 0.12 percent, and the Seoul metropolitan area as a whole increased by 0.19 percent.
(Photo: Yonhap News)
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