Seoul Apartment Sale Price Increase Narrows for the First Time in Three Weeks… Drops Widen in Gangnam and Seocho
4 Articles
4 Articles
Apartment sales prices in Seoul's Gangnam area have fallen for four consecutive weeks following the government's announcement of tax reform plans, and the rate of increase in the average apartment sales price in Seoul has slowed. According to the Korea Real Estate Institute's "Weekly Apartment Price Trends" released on the 3rd, the growth rate of Seoul apartment sales prices in the fifth week of August (as of August 31) was 0.22%, compared to th…
(Seoul = Yonhap News) Reporter Lim Ki-chang = The weekly average sales price increase in Seoul has narrowed again for the first time in three weeks. High-priced areas in the Gangnam region showed weakness as they widened their declines...
As of August 31, while the rate of increase in Seoul apartment prices has narrowed, the decline in Gangnam and Seocho has quadrupled due to the impact of tax reform. Conversely, the upward trend continues in mid-to-low-priced areas of Seoul and southern Gyeonggi Province, indicating regional polarization in the real estate market.
While housing prices in Gangnam-gu and Seocho-gu have continued to fall for the fourth consecutive week, it appears that the upward trend in housing prices in the outer areas of Seoul is not coming under control.
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