Metropolitan Area Apartment Prices Rise 13% in First Half of Year... Highest in 19 Years

Gyeonggi-do Records 15.35% Cumulative Increase in First Half of the Year... Highest Since Statistics Began
Nationwide Apartment Price Increase in First Half Surpasses Last Year's Annual Rate

[Asia Economy Reporter Hwang Yoon-joo] In the first half of this year (January to June), apartment prices in the Seoul metropolitan area recorded the highest increase in 19 years. The nationwide apartment price increase rate has already surpassed last year's annual increase rate.

According to the monthly housing price trend time series statistics from KB Kookmin Bank on the 4th, apartment prices in the Seoul metropolitan area rose by 12.97% in the first half of this year. This is the highest rate since 2002 (16.48%) for the first half of the year. Notably, it exceeded last year's annual rate (12.51%).

Nationwide apartment prices also increased by 9.97%, surpassing last year's annual increase rate (9.65%).

On a monthly basis, apartment prices in the Seoul metropolitan area rose by 2.42% last month, marking the largest increase in 14 years and 6 months since December 2006 (3.63%). Apartment prices in the Seoul metropolitan area have recorded an increase rate of over 1% for eight consecutive months since November last year.

In particular, Gyeonggi-do's cumulative increase rate in the first half of the year (15.35%) set a new record since statistics began being compiled, driving the upward trend in apartment prices in the Seoul metropolitan area. During this period, Siheung-si (24.53%), Goyang-si (21.38%), Dongducheon-si (20.58%), and Uijeongbu-si (20.37%) showed increases of over 20%.

Expanding the scope to districts, Deogyang-gu in Goyang-si (25.49%) recorded the highest apartment price increase nationwide.

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