April Nationwide Apartment Prices See Smallest Decline in 1 Year and 4 Months

Zigbang, Self-Analysis Results Using Deep Learning

In April of this year, the nationwide apartment sales price index recorded its smallest decline in one year and four months.

[Image source=Yonhap News]

On the 3rd, Zigbang analyzed the apartment sales price index using its own deep learning model based on actual transaction data from the Ministry of Land, Infrastructure and Transport. The result showed that last month, the nationwide apartment sales price index fell by 0.595% compared to the previous month. This is the smallest decline since December 2021 (-0.264%).

Except for Sejong City, apartment prices continued to decline nationwide compared to the previous month, but the rate of decline slowed. In Seoul, prices fell by 0.990% in March compared to the previous month, but in April, the decline narrowed to 0.794%.

During the same period, the rate of decline also slowed in Incheon (-0.354% → -0.139%) and Gyeonggi (-0.329% → -0.066%). Sejong was the only region nationwide where apartment prices rose for two consecutive months compared to the previous month. Apartment prices near subway stations showed signs of turning upward, mainly along some metropolitan area lines. Looking at apartment prices within 500 meters from the complex boundary to the station, the Gyeongchun Line rose by 0.198%, Gimpo Gold Line by 0.186%, Seohae Line by 0.180%, Yongin Light Rail by 0.149%, Uijeongbu Light Rail by 0.111%, and Ui-Sinseol Light Rail by 0.029%, all showing an increase compared to the previous month.

The Incheon Line 2 continued its upward trend for two consecutive months in April, rising by 0.350%.

Ham Young-jin, head of Zigbang Big Data Lab, explained, "Although apartment sales prices are still declining across all lines, some outer metropolitan area lines showed a reversal to an upward trend last month. The rate of decline in apartment sales prices along all metropolitan and local urban railway lines continues to decrease."

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