Seoul Apartment Sales Sentiment Shows 'Sell' Dominance for 17 Consecutive Weeks

Apartment buildings in the Seoul area (Photo by Yonhap News)

[Asia Economy Reporter Ryu Tae-min] It has been revealed that in the Seoul apartment market, sellers who want to sell their homes have outnumbered buyers who want to purchase for 17 consecutive weeks.

According to the apartment supply-demand index trend announced by the Korea Real Estate Board on the 12th, the Seoul apartment supply-demand index for the first week of March (as of the 7th) was 87.0. This marks 17 consecutive weeks below the baseline of 100 since the third week of November last year.

The supply-demand index is quantified on a scale from 0 to 200 based on surveys of real estate agencies conducted by the Real Estate Board, reflecting the balance between demand and supply. If the index is below the baseline of 100, it means that the number of homeowners wanting to sell their homes currently exceeds the number of buyers.

However, ahead of the presidential election on the 9th, buying sentiment showed a slight increase. The Seoul apartment supply-demand index for the fourth week of February recorded 86.8. This is interpreted as a result of candidates pledging to revitalize reconstruction and redevelopment projects and reform real estate taxation policies.

On the other hand, the supply-demand index for the metropolitan area recorded 90.0, down 0.5 points from the previous week (90.5). The nationwide supply-demand index (92.8→92.7) also slightly declined, indicating that the overall trend of "selling" remains stronger.

Meanwhile, this week’s Seoul apartment jeonse supply-demand index was 89.6, marking 14 consecutive weeks below the baseline since the first week of December last year. The jeonse supply-demand index also showed a slight increase from last week (89.5).

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