Nationwide Apartment Prices Fall for 5 Consecutive Weeks... Seoul Also Ends on a Downward Trend

Seoul Declines for 4 Consecutive Weeks, All Areas Except Gwangjin-gu Fall
Jeonse Prices Maintain Upward Trend

Apartment sale prices nationwide have fallen for five consecutive weeks. In Seoul, 24 autonomous districts showed a downward trend except for Gwangjin-gu. Jeonse prices continued to rise, but the rate of increase slowed.

According to the 'Weekly Apartment Price Trend' announced by the Korea Real Estate Agency on the 28th, the nationwide apartment sale price change rate for the fourth week of December (as of the 25th) recorded -0.04%. This marks five consecutive weeks of decline since the fourth week of November, which recorded -0.01%. The drop was 0.01 percentage points less than the previous week (-0.05%).

Seoul (-0.03%) also showed a decline for the fourth consecutive week. Among the 25 autonomous districts, Dobong-gu and Nowon-gu recorded the largest declines at -0.06% each. This was followed by Geumcheon-gu, Dongjak-gu, and Gwanak-gu (each -0.05%), Gangbuk-gu and Guro-gu (each -0.04%), Yangcheon-gu and Gangseo-gu (each -0.03%). Seocho-gu, Gangnam-gu, and Songpa-gu also fell by 0.03%. Gwangjin-gu was the only district to remain flat (0.00%).

The Real Estate Agency explained, "There are inquiries mainly for urgent sales, and with the prolonged wait-and-see stance, transactions are sluggish," adding, "Although it varies by region and complex, overall listing prices are being adjusted downward, continuing the downward trend."

Gyeonggi Province (-0.06%) also showed the same decline as the previous week, marking four consecutive weeks of decline. The largest drops were centered in Gwangju-si (-0.19%), Anseong-si (-0.16%), Dongducheon-si and Sangnok-gu in Ansan-si (each -0.14%), Hwaseong-si and Pyeongtaek-si (each -0.13%). On the other hand, Gwangmyeong-si (0.05%) and Gimpo-si (0.03%) maintained an upward trend, and Deogyang-gu in Goyang-si remained flat (0.00%).

The provinces (-0.03%) also saw a reduced decline compared to the previous week (-0.04%) but continued the downward trend for five consecutive weeks. The five major metropolitan cities fell by 0.05%, and Sejong fell by 0.03%. The eight provinces also declined by 0.01%. Chungbuk rose by 0.06%, expanding its increase compared to the previous week (0.01%).

Nationwide jeonse prices rose by 0.03%, marking the 23rd consecutive week of increase. The rate of increase slightly decreased compared to the previous week (0.05%). Seoul rose by 0.08%, with Geumcheon-gu (0.16%) showing the largest increase, followed by Dongdaemun-gu (0.14%), and Seongdong-gu, Yangcheon-gu, and Dongjak-gu (each 0.13%).

The Real Estate Agency stated, "With worsening buyer sentiment, the preference for jeonse is progressing, and the upward trend continues mainly in preferred complexes such as school districts and areas near subway stations," adding, "Due to seasonal factors and some low-priced listings, the rate of increase has narrowed."

Gyeonggi Province rose by 0.06%, Incheon remained flat (0.00%), and the provinces also recorded a flat trend (0.00%).

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