Korea Real Estate Board releases weekly apartment price data
Seoul apartment prices up 0.12%, widening gain from previous week
High-end areas including three Gangnam districts and Yongsan-gu continue to fall
Seoul apartment sale prices rose for the 87th consecutive week, setting a new all-time record for the longest streak of gains. Outer districts — particularly the Nowon, Dobong and Gangbuk-gu cluster in the north and the Geumcheon, Gwanak and Guro-gu cluster in the south — drove the acceleration, widening the margin of increase from the previous week.
According to the Korea Real Estate Board's weekly apartment price data for the first week of October (based on Monday's figures), Seoul apartment sale prices rose 0.12 percent from the previous week, up from a 0.09 percent gain the week before.
Outer districts led the city's price gains. Seodaemun-gu rose 0.36 percent, driven mainly by Bukgajwa and Hongneun-dong. Gangbuk-gu climbed 0.35 percent on the strength of transit-oriented areas in Mia and Suyu-dong, while Dobong-gu gained 0.32 percent centered on Chang and Ssangmun-dong, and Nowon-gu rose 0.31 percent led by Sanggye and Wolgye-dong.
In the southern part of the city, Geumcheon-gu rose 0.34 percent, driven by large complexes in Doksan and Siheung-dong. Gwanak-gu gained 0.33 percent centered on Bongcheon and Sillim-dong, and Guro-gu climbed 0.28 percent led by Gaebong and Guro-dong.
In contrast, high-end areas — including the three Gangnam districts of Gangnam-gu, Seocho-gu and Songpa-gu, as well as Yongsan-gu — continued to decline. Gangnam-gu fell 0.34 percent and Seocho-gu dropped 0.27 percent, though both narrowed their declines from the previous week. Songpa-gu and Yongsan-gu each fell 0.19 percent and 0.01 percent, respectively, matching the pace of decline seen the week before.
"While some contracts are being concluded at locally adjusted lower prices, robust demand continues to center on large complexes and transit-oriented areas with favorable living conditions, generating upward transactions and lifting Seoul as a whole," a Korea Real Estate Board official said.
Meanwhile, apartment sale prices in Gyeonggi Province rose 0.14 percent, up from 0.13 percent the previous week. Suwon's Yeongtong-gu gained 0.34 percent led by large complexes in Maetan and Woncheon-dong, Hwaseong's Dongtan-gu rose 0.34 percent centered on recently built units in Sancheok and Bansong-dong, Yongin's Giheung-gu climbed 0.33 percent driven by Gugal and Yeongdeok-dong, and Uiwang rose 0.30 percent led by Ojeon and Wanggok-dong.
Incheon also posted a 0.15 percent gain, with Namdong-gu rising 0.36 percent, Yeonsu-gu up 0.21 percent and Gyeyang-gu advancing 0.14 percent.
hss@heraldcorp.com
