Real Estate Stabilization in the Seoul Metropolitan Area

*This content was translated by AI.

Real estate in the Seoul metropolitan area is still stabilizing.

According to real estate R114, Seoul jumped 0.51 percent, leading the market price increase in the Seoul metropolitan area (0.41 percent). Gyeonggi and Incheon also rose 0.28%. The five metropolitan cities were raised by 0.16% and other provinces by 0.06%. 17 cities and provinces nationwide also saw 11 gains and 6 declines, with rising regions dominating.

By region, Seoul (0.51 percent), Gyeonggi Province (0.35 percent), Busan (0.25 percent), Jeonbuk (0.24 percent) and Ulsan (0.23 percent).

Prices of apartments nationwide rose 0.12 percent in the second week of January. Seoul showed an upward trend with 0.17% in the Seoul metropolitan area, 0.14% in the Seoul metropolitan area, 0.11% in Gyeonggi and Incheon, 0.07% in the five metropolitan cities, and 0.04% in other regions.

Of the 17 cities and provinces nationwide, the rise was remarkable, with 16 rising and 1 flat. By region, Jeju (0.19%), Seoul (0.17%), Busan (0.12%), Gyeonggi Province (0.12%) and Jeonbuk (0.07%).

On Jan. 15, the Bank of Korea froze its key interest rate at 2.50 percent per annum. The won-dollar exchange rate rose to the mid-to-late 1,400 won range, increasing exchange rate volatility. Financial authorities are also likely to tighten their annual household loan growth targets for major banks, signaling that they will maintain an intensive household debt management stance. In a situation where the amount of loans available is decreasing and the burden of interest repayment is increasing, the smaller the assets held, the worse the purchasing power of the house is expected.

<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>

*This content was translated by AI.