March Nationwide House Price Increase Rate Half of February's Level... Sales Outlook Index Rebounds

KB Real Estate Monthly Housing Market Trend Survey Results

Apgujeong Hyundai Apartment_Real Estate Reference Photo / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kangwook Cho] The nationwide housing sale and jeonse price increase rate this month has slowed to half the level of last month.

According to KB Real Estate's monthly housing market trend data on the 27th, the average sale price of nationwide housing (including apartments, row houses, multi-family houses, and detached houses) as of the 14th of this month rose by 0.10%.

This is the lowest increase rate since May 2020 (0.14%) and has shrunk to half compared to last month's increase rate (0.21%).

By region, Seoul's housing price increase rate this month was 0.06%, significantly slowing down from last month's 0.20%. During the same period, Gyeonggi also decreased from 0.11% to 0.06%, and Incheon dropped sharply from 0.49% to 0.07%, resulting in the overall metropolitan area’s increase rate shrinking from 0.20% to 0.06%.

The five major provincial metropolitan cities (Daejeon, Daegu, Ulsan, Busan, Gwangju) and other provinces also showed a decrease in housing price increase rates this month, recording 0.08% and 0.23% respectively, down from last month's 0.15% and 0.31%.

Additionally, the nationwide jeonse price increase rate this month also shrank to 0.11% from 0.22% last month.

However, the nationwide sale price outlook index rose from 87 last month to 94 this month, ending a seven-month decline and rebounding.

The KB Real Estate Price Outlook Index quantifies the rise and fall outlook of housing prices in the respective areas by surveying 4,000 brokerage offices nationwide. A value exceeding 100 indicates a higher rise outlook, while below 100 means a greater decline outlook.

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