KB "Seoul Apartment Market Quiet... Both Sales and Jeonse Stable"

[Asia Economy Reporter Kim Hyemin] The sales and jeonse prices of apartments in Seoul continue to show a slowdown.

According to the weekly trend report released by KB Kookmin Bank Liv Real Estate on the 3rd, as of the 28th of last month, the sales price of apartments in Seoul rose by 0.01% compared to the previous week, maintaining a near-flat range close to 0% for three consecutive weeks.

By region, Geumcheon-gu (0.05%), Gangnam-gu (0.04%), Yongsan-gu (0.04%), Gangseo-gu (0.03%), and Seocho-gu (0.03%) saw slight increases, while Gangdong-gu (-0.02%), Yangcheon-gu (-0.01%), and Seongbuk-gu (-0.01%) experienced declines.

Gyeonggi-do rose by 0.02% compared to the previous week, continuing a minimal upward trend. Areas such as Icheon (0.32%), Pyeongtaek (0.18%), and Anseong (0.1%) increased, but Siheung (-0.06%), Yeongtong-gu in Suwon (-0.05%), and Jungwon-gu in Seongnam (-0.05%) declined. Incheon also rose by 0.01% compared to the previous week, remaining in a stable range.

Expanding the scope nationwide, five metropolitan cities excluding Incheon showed a 0.01% decrease compared to the previous week. Sales prices in other areas outside the metropolitan cities rose by 0.08% compared to the previous week. By region, Gangwon (0.14%), Jeonbuk (0.13%), Jeju (0.13%), and Gyeongnam (0.11%) increased in that order.

The nationwide apartment jeonse price rose by 0.03% compared to the previous week. Seoul’s jeonse price, which had fallen by 0.02% last week, returned to a stable 0.00% this week. However, by region, only Gangseo-gu (0.12%), Dobong-gu (0.09%), and Gangdong-gu (0.08%) showed relatively slight increases, with most areas remaining stable. Seongbuk-gu (-0.11%), Dongdaemun-gu (-0.09%), Seongdong-gu (-0.06%), and Jungnang-gu (-0.06%) declined.

Jeonse prices for apartments in Gyeonggi-do rose by 0.01% compared to the previous week, remaining stable, while Incheon saw a slight increase of 0.03%.

Seoul’s buyer dominance index was 55.6, slightly up from 52.4 the previous week but still at a low level. Among the five metropolitan cities excluding Incheon, the order was Busan (43.7), Gwangju (31.6), Ulsan (29.1), Daejeon (28.3), and Daegu (20.4). KB Liv Real Estate stated, "Buyer interest remains rare, and seller inquiries continue to be high."

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