Jeju Apartment Prices 'Drive' Housing Price Increase

Apartment and Detached Houses Are on the Decline

[Asia Economy Honam Reporting Headquarters (Jeju) Reporter Park Chang-won] While apartment sale prices in the Jeju area have risen, prices for row houses and detached houses have continued to decline following last year.

According to the nationwide housing price trend announced by the Korea Real Estate Agency on the 1st, the comprehensive housing sale price index in Jeju for January increased by 0.12% compared to the previous month. Among these, the apartment sale price index rose by 0.46% during the same period.

On the other hand, the row house sale price index fell by 0.01% in January compared to the previous month. Detached houses also declined by 0.02%.

During this period, supported by the nationwide rise in jeonse prices, the jeonse prices in Jeju also increased by 0.12% compared to the previous month. Apartment jeonse prices rose by 0.41%, row houses by 0.04%, while detached houses remained stable.

In January, monthly rent prices in Jeju increased by 0.09% for apartments, 0.01% for row houses, and 0.03% for detached houses compared to the previous month.

The average housing sale price was 302.63 million won, with transactions occurring at 2.534 million won per unit area. Jeonse averaged 180 million won (1.599 million won per unit area), and the average monthly rent deposit was 9.542 million won (average monthly rent price 726,000 won).

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