Seoul Apartments After 7 Months... Sales > Purchases

This Week's Trading Supply-Demand Index Records 99.6

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyemin] The Seoul apartment sales market has shifted to a 'seller's market' for the first time in seven months. This means that there are now more people wanting to sell apartments than those wanting to buy.

According to the Korea Real Estate Board on the 19th, as of the 15th, the Seoul apartment sales supply-demand index for this week recorded 99.6. The index falling below 100 is the first time in about seven months since the first week of April (based on the 5th), when it was 96.1.

The sales supply-demand index quantifies the balance of demand and supply by analyzing surveys from member real estate agencies and the number of online listings. With 100 as the baseline, a number below 100 indicates that more people want to sell houses, while a number closer to 200 means more people want to buy houses.

The Seoul sales supply-demand index has been declining since it recorded 107.2 in the first week of September. This is analyzed to be due to buyers feeling burdened by the rapid rise in housing prices over a short period, combined with the government's strong loan regulations and increases in market interest rates.

Yeo Kyung-hee, Chief Researcher at Real Estate R114, said, "There are not many listings on the market, but there are also no buyers," and predicted, "This trend is expected to continue until the end of the year."

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