"Comprehensive Regulation Strengthening... Seoul Sales Return" This Week's Increase Expands to 0.11%↑

[Asia Economy Reporter Kim Yuri] Seoul apartment sale prices continued to rise for the fourth consecutive week. All 25 districts in Seoul saw price increases, with significant gains in mid-to-low-priced apartment clusters such as Gwanak, Nowon, and Dobong. In the metropolitan area, following Gimpo City's designation as a regulated area, demand flowed into adjacent regions, leading to notable price increases in Paju and Goyang. Meanwhile, the jeonse (long-term lease) market experienced a shortage of listings, causing jeonse prices in Seoul and new towns to rise sharply.

According to Real Estate 114 on the 18th, Seoul apartment sale prices rose by 0.11%, expanding from last week's 0.10%. Reconstruction and general apartments increased by 0.07% and 0.12%, respectively. Additionally, Gyeonggi and Incheon rose by 0.12%, and new towns by 0.23%.

In Seoul, the districts increased in the following order: Gwanak (0.26%), Nowon (0.22%), Dobong (0.20%), Seongbuk (0.18%), Dongdaemun (0.14%), Seongdong (0.13%), Songpa (0.13%), Eunpyeong (0.13%), and Jongno (0.13%). As most metropolitan areas were designated as regulated zones, sales demand appeared to return to Seoul, particularly in mid-to-low-priced apartment clusters with relatively lower price burdens. In Gwanak, large complexes such as Gwanak Prugio in Bongcheon-dong, Doosan, Seonghyeon Donga, and Samsung Sanjugong 3rd Complex in Sillim-dong rose by 2.5 million to 20 million KRW. In Nowon, Sangye Jugong 7th Complex in Sangye-dong, Bulam Donga, and Hanshin Cheonggu in Hagye-dong increased by 5 million to 10 million KRW. Dobong saw increases of 5 million to 10 million KRW in Chang-dong Sangye Jugong 19th Complex, Jugong 4th Complex, and Sangye Jugong 17th Complex. In Seongbuk, large units in Raemian Wolgok 1st Complex in Hawolgok-dong, Doosan in Seokgwan-dong, and Raemian Gireum New Town 8th Complex in Gireum-dong rose by 5 million to 10 million KRW. Dongdaemun's Imun-dong Ssangyong and Dapsimni-dong Cheongsol Jugong 1st Complex increased by about 10 million KRW.

New towns rose in the following order: Ilsan (0.60%), Paju Unjeong (0.53%), Gwanggyo (0.28%), Pyeongchon (0.26%), Wirye (0.25%), Jungdong (0.18%), and Dongtan (0.18%). After Gimpo was designated as a regulated area, demand flowed into Ilsan and Paju Unjeong, increasing the rate of rise compared to the previous week. In Ilsan, large complexes such as Hugok 11th Jugong in Ilsan-dong, Gangchon 7th Seonkyung Kolon in Madu-dong, and Baekma 2nd Geukdong Samhwan rose by 5 million to 15 million KRW. Paju Unjeong saw increases of 5 million to 20 million KRW in Unjeong New Town Central Prugio in Mokdong-dong and Hanbit Village 3rd Complex Jayuro I-Park in Yadang-dong. Gwanggyo's Iui-dong Gwanggyo E-Pyeonhansesang and Gwanggyo Jayeon & Hillstate rose by 5 million to 10 million KRW.

Gyeonggi and Incheon rose in the following order: Paju (0.53%), Goyang (0.29%), Hwaseong (0.19%), Bucheon (0.18%), Yongin (0.18%), Uiwang (0.18%), Uijeongbu (0.18%), and Osan (0.18%). In Paju, Palmspring in Adong-dong, Paju Hanyang Sujain River Palace and Hillstate 2nd Complex in Munsan-eup increased by 2.5 million to 10 million KRW. Goyang's Wish City Blooming 3rd Complex in Siksa-dong, Wish City Ilsan Xi 1st Complex, Ilsan Edufore Prugio in Tanhyeon-dong, and High Park City Ilsan I-Park 1st Complex in Deogi-dong rose by 2.5 million to 10 million KRW. Hwaseong's Shindongtan SK View Park in Banwol-dong and Bandal Village 1st Complex Doosan We’ve in Banwol-dong increased by 10 million to 20 million KRW.

The metropolitan jeonse market is experiencing intensified scarcity of listings due to existing tenants renewing contracts and landlords residing in their properties. Seoul's jeonse prices rose by 0.22%, while Gyeonggi, Incheon, and new towns increased by 0.12% and 0.23%, respectively.

Seoul's jeonse prices rose across all 25 districts. By region, the increases were: Geumcheon (0.37%), Gangseo (0.34%), Songpa (0.30%), Gwanak (0.28%), Gangnam (0.27%), Nowon (0.26%), and Seongbuk (0.25%). In Geumcheon, large units in Sindobrenyu in Siheung-dong, Doosan We’ve in Gasan-dong, and Jungang Heightsville in Doksan-dong rose by 5 million to 15 million KRW. Gangseo's Gangseo Hangang Xi in Gayang-dong and Ujangsan I-Park E-Pyeonhansesang in Hwagok-dong increased by 10 million to 25 million KRW. Songpa's large complexes such as Jamsil Els in Jamsil-dong, Woosung 1st, 2nd, and 3rd Complexes, and Helio City in Garak-dong rose by 25 million to 30 million KRW. Gwanak's Seonghyeon Donga and Gwanak Park Prugio increased by 10 million to 20 million KRW. Gangnam's large units near academies, such as Raemian Daechi Palace 1st Complex in Daechi-dong, Ssangyong 1st Complex, and Tower Palace 2nd and 3rd Complexes in Dogok-dong, rose by 25 million to 50 million KRW.

New towns rose in the following order: Ilsan (0.61%), Gwanggyo (0.34%), Paju Unjeong (0.26%), Dongtan (0.22%), Bundang (0.17%), and Pyeongchon (0.16%). In Ilsan, Gangchon 1st Donga in Madu-dong, Hugok 11th Jugong in Ilsan-dong, and Gangseon 14th Doosan in Juyop-dong increased by 5 million to 10 million KRW. Gwanggyo's Woncheon-dong Gwanggyo Doosan We’ve, Iui-dong Gwanggyo E-Pyeonhansesang, and Gwanggyo Jayeon & Hillstate rose by 5 million to 7.5 million KRW. Paju Unjeong's Hanbit Village 3rd Complex Jayuro I-Park in Yadang-dong and Unjeong Amorium Hanbit Village increased by 5 million to 10 million KRW. Dongtan's Metapolis in Bansong-dong, Dongtan Lotte Castle Albatross in Cheonggye-dong, and Dongtan Bando Yubora Ivy Park 2nd Complex in Yeongcheon-dong rose by 5 million to 10 million KRW.

Gyeonggi and Incheon rose in the following order: Osan (0.26%), Paju (0.23%), Yongin (0.21%), Uiwang (0.17%), Incheon (0.16%), Goyang (0.15%), and Pyeongtaek (0.14%). Osan's Osan Segyo Xi in Naesammi-dong, Segyo New Town Hoban Verdiem, and Hansol Sol Park in Galgot-dong increased by 5 million to 10 million KRW. Paju's Palmspring in Adong-dong and Sannae Village 11th Complex Hyundai I-Park in Mokdong-dong rose by 2.5 million to 10 million KRW. Yongin's Seongdong Village LG Village 1st Complex in Seongbok-dong, Sinjeong 8th Complex Hyundai Seongwoo in Pungdeokcheon-dong, and Sinbong Xi 2nd Complex in Sinbong-dong increased by about 10 million KRW. Uiwang's Poil Xi in Naeson-dong, Uiwang Naeson E-Pyeonhansesang, and Poil Forest Village 3rd Complex in Poil-dong rose mainly in large units by 15 million to 50 million KRW.

This week, apartment sale and jeonse price changes in Seoul and the metropolitan area showed an expanded trend compared to the previous week. In particular, the rise was notable in some relatively undervalued northern Gyeonggi areas such as Paju and Goyang. However, since Paju was additionally designated as a regulated area, it is necessary to observe whether the current rapid price surge will continue. Yeokyunghee, Senior Researcher at Real Estate 114, said, "With the entire metropolitan area being designated as regulated zones, there is concern that sales demand may return to mid-to-low-priced areas in Seoul," adding, "Preemptive measures are needed to address this."

This content was produced with the assistance of AI translation services.