Consumer sentiment in the real estate market has grown more heated amid a so-called "triple rally" — rising prices across home sales, jeonse and monthly rent alike. The national housing market consumer sentiment index shifted from a flat phase into an upward phase in June, driven by momentum in the greater Seoul area.
The Korea Research Institute for Human Settlements' June real estate market consumer sentiment survey, released Wednesday, showed the national housing market consumer sentiment index — covering both sales and jeonse — rose 1.0 point from the previous month to 115.9. After holding flat in May, the index moved into an upward phase, surpassing the 115.0 reading recorded in June last year.
The greater Seoul area index climbed 1.3 points from the previous month to 123.4, while the non-metropolitan index rose 1.0 point to 107.3.
In the sales market alone, the greater Seoul area index rose 2.2 points to 127.4, remaining in an upward phase, while the non-metropolitan index gained 2.5 points to 108.8 but stayed in flat territory.
In the jeonse market, the greater Seoul area sentiment index edged up to 119.4 from 119.0 the previous month, remaining in an upward phase, while the non-metropolitan index slipped to 105.8 from 106.3, staying in a flat phase.
The real estate market consumer sentiment index runs on a scale of 0 to 200. A reading above 100 indicates that more respondents expect prices to rise and transactions to increase compared with the previous month, while a reading above 115 is classified as an upward phase.
smh@heraldcorp.com
