Seoul Weekly Apartment Sale Prices Rise 0.5%... Increase Expands for 3 Consecutive Weeks

The apartment sale prices in Seoul rose by 0.5% compared to the previous week. Since the lifting of the land transaction permit zone in Seoul, the weekly increase rate has been expanding.

According to Real Estate R114 on the 1st, the nationwide apartment sale prices in the fourth week of February rose by 0.23% compared to the previous week, with Seoul up 0.5% and the metropolitan area up 0.31%.

The Gyeonggi and Incheon areas increased by 0.08%, and the five major metropolitan cities rose by 0.07%. On the other hand, other provinces fell by 0.12%. Among the 17 cities and provinces, 8 regions saw increases while 9 regions experienced declines. The regions with the largest increases were △Ulsan (0.62%) △Seoul (0.50%) △Busan (0.34%). The regions with the largest declines this week were △Jeonnam (-0.61%) △Daegu (-0.34%) △Gwangju (-0.23%).

On the 12th, fog covered the city center as seen from Namsan in Seoul. The Korea Meteorological Administration forecasted that daytime temperatures will remain mild around 20 degrees Celsius for the time being, with a large temperature difference between day and night. Photo by Kang Jin-hyung

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The rate of change in Seoul apartment sale prices increased for three consecutive weeks: 0.04% in the second week of February, 0.14% in the third week, and 0.5% in the fourth week. During the same period, the metropolitan area's sale price change rates were △0.02%, △0.09%, and △0.31%, also rising for three consecutive weeks. The nationwide sale price change rates reflected this trend, rising by △0.01%, △0.07%, and △0.23%.

The monthly nationwide change rate in January fell by 0.18%, marking two consecutive months of decline following December last year (-0.04%). An upward reversal is expected starting from February.

The jeonse (long-term lease) market has been on a long-term upward trend centered on Seoul and the metropolitan area for nearly two years. In the fourth week of February, the nationwide apartment jeonse prices recorded a slight increase of 0.01%.

Seoul rose by 0.04%, increasing the rise rate compared to the previous week (0.01%), and influenced by Seoul's movement, the metropolitan area rose by 0.02%. The Gyeonggi and Incheon areas remained flat (0.00%). The five major metropolitan cities and other provinces also stayed at a flat level (0.00%).

Among the 17 cities and provinces nationwide, 3 regions rose, 13 remained flat, and 1 declined, with most areas showing a flat trend. By region, △Ulsan (0.05%), △Seoul (0.04%), and △Incheon (0.02%) increased, while Daegu fell by 0.02%.

The monthly nationwide jeonse price change rate in January recorded 0.02%, marking 18 consecutive months of increase, and the trend is expected to continue in February, forecasting a 19-month consecutive rise.

With the Bank of Korea lowering the interest rate from 3.00% to 2.75%, commercial bank loan interest rates are also expected to gradually decrease with some delay. Financial authorities have also acted swiftly by announcing the '2025 Household Debt Management Plan.' Starting in July, a three-stage stress DSR system will be implemented, and repayment ability assessments will be strengthened for loans under 100 million KRW and jeonse deposit loans.

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