Seoul apartment prices continue to rise. The northeastern area, including Dongdaemun-gu and Seongdong-gu, saw particularly large increases. Dongtan-gu in Hwaseong, Gyeonggi Province, a residential area for semiconductor industry workers, posted the highest rate of increase in the greater Seoul area. Jeonse prices in Seoul also remained strong.

According to the weekly apartment price trend data released by the Korea Real Estate Board on the 4th, as of the 1st, Seoul apartment sale prices rose 0.25% from the previous week.

The northeast recorded relatively large gains. Dongdaemun-gu 0.37%, Seongdong-gu 0.35%, Gangbuk-gu 0.35%, Seongbuk-gu 0.34%, Jungnang-gu 0.29%. Excluding Jungnang-gu, the other areas have generally recorded high increases of 0.3~0.5% over the past four weeks, and analysis suggests that buying demand has shifted to Jungnang-gu as well, driving a sharp rise.

Gangseo-gu and Yeongdeungpo-gu also posted sizable gains of 0.31%.

In the three Gangnam districts, Gangnam-gu (0.21%) saw its increase widen by 0.07 percentage points from the previous week, and Seocho-gu (0.21%) by 0.01 percentage points. Songpa-gu (0.28%) rose by the same amount as the previous week.

In Gyeonggi Province, areas with notable increases included Sujeong-gu of Seongnam 0.42%·Jungwon-gu 0.37%, Dongan-gu of Anyang 0.35%, Gwangmyeong 0.43%, Guri 0.34%, and Hanam 0.29%. These areas are considered places where the supply of newly built apartments is relatively active.

Dongtan-gu in Hwaseong City had been showing increases in the 0.3~0.4% range since May, and in this survey recorded 0.60%, the highest increase in the metropolitan area.

Seoul jeonse prices (as of the 1st) also rose 0.29% from the previous week. As with sale prices, the increases were larger in the northeastern area. Seongdong-gu 0.48%, Gwangjin-gu 0.39%, Dongdaemun-gu 0.33%, Seongbuk-gu 0.43%, Dobong-gu 0.47%, Nowon-gu 0.41%. Notably, Songpa-gu rose 0.50%, showing increases in the 0.4~0.5% range over the past six weeks.

Year to date, the cumulative increase in Seoul jeonse prices is 3.77%, about six times the level in the same period last year (0.65%).

Nam Hyuk-woo at the Woori Bank Real Estate Research Institute analyzed that jeonse prices are rising steeply and that one-person households without homes and newlywed households are steadily moving into the northeastern area of Seoul, including Jungnang-gu, where increases in sale prices had been relatively slower. He estimated that as prices in Seoul remain strong, demand is shifting to non-regulated areas such as Guri, spreading the strength.