"Seoul Office-tel Prices Rise for 12th Consecutive Month, Led by Large and Medium-Large Units"
KB Real Estate Report Released
Office-tel prices in Seoul have risen for 12 consecutive months as of this month. However, the pace of increase has somewhat slowed.
According to the January office-tel statistics released by KB Real Estate on the 25th, the sales price of office-tels in Seoul rose by 0.04% compared to December of last year, marking a 12-month streak of increases. The rate of increase has somewhat slowed compared to the previous month's rise of 0.52%.
By floor area, large units exceeding 85 square meters of exclusive area recorded the highest increase at 0.48%. However, this was a significant slowdown from the previous month's rise of 2.39%. Medium-large office-tels (over 60 square meters and up to 85 square meters) saw a 0.27% increase.
It is analyzed that, following the October 15 measures last year that designated all of Seoul as a regulated area, speculative zone, and land transaction permit zone, regulations on apartments were strengthened. As a result, demand shifted to office-tels, which are subject to relatively fewer regulations, leading to continued price increases, especially for large and medium-large units.
However, sales prices for medium-sized (over 40 square meters and up to 60 square meters), small (over 30 square meters and up to 40 square meters), and very small (30 square meters or less) office-tels fell by 0.02%, 0.03%, and 0.21%, respectively. The nationwide office-tel sales price also dropped by 0.01%, marking a return to a downward trend for the first time in three months since October of last year (-0.03%).
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This month, the average office-tel sales price was 262.74 million won nationwide, 272.73 million won in the Seoul metropolitan area, and 195.85 million won in the five major metropolitan cities. By region within the metropolitan area, the average sales price was 307.7 million won in Seoul, 262.19 million won in Gyeonggi Province, and 166.22 million won in Incheon. The average jeonse price was 203.89 million won nationwide, 213.72 million won in the metropolitan area, and 136.76 million won in the five major metropolitan cities. By region within the metropolitan area, the average jeonse price was 236.35 million won in Seoul, 209.5 million won in Gyeonggi Province, and 133.78 million won in Incheon.
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