[real estate] Seoul Goes Out and Goes Out

*This content was translated by AI.

Real estate, which had been strong, is on a downward curve like a bubble bursting.

According to data such as real estate R114, apartment sales prices nationwide fell 0.01 percent in the second week of March, showing negative fluctuations. Seoul fell 0.05%, with the entire metropolitan area falling 0.02%.

Among the 17 cities and provinces nationwide, five fell, two flat, and 10 rose. By region, Busan (0.04%), Daejeon (0.04%), Chungbuk (0.04%) rose, while Jeju (-0.10%), Seoul (-0.05%), and Sejong (-0.05%) fell.

Jeonse prices of apartments nationwide rose 0.10 percent. Seoul, Gyeonggi, Incheon, and the Seoul metropolitan area all showed a 0.11% change rate. The five metropolitan cities rose 0.05% and other provinces rose 0.04%. Among the 17 cities and provinces nationwide, there were more rising areas with 15 rising, one flat, and one falling.

As the government's tax pressure on multi-homeowners and high-priced one-households continued, the number of lower-than-market sales increased significantly in major areas of Seoul. Due to this sudden sale, the sale price of apartments in Seoul turned negative this week, with six rising, two flat, and 17 falling districts out of 25 districts.

The adjustment movement is also the first to begin in these regions as tax pressure has increased in the Han River Belt areas, including Seoul's four Gangnam districts (Gangnam, Seocho, Songpa, Gangdong) and Ma Yong-seong (Mapo, Yongsan, Seongdong), and leading areas such as Gwacheon, Gyeonggi Province and Seongnam (Bundang, Pangyo).

Multiple real estate experts who spoke to this newspaper by phone expressed their opinion, saying, "The short-term adjustment is expected to continue until April, as the retirement of multiple homeowners remains for the next one to two months."

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*This content was translated by AI.