[real estate] Seoul Apartments Still Steady

*This content was translated by AI.

While Seoul apartments are on the decline, the overall real estate trend is stabilizing.

National apartment sales fell 0.01 percent in the second week of April, according to real estate R114 data. The Seoul metropolitan area showed a -0.01% change rate due to a 0.03% drop in Seoul. On the other hand, Gyeonggi-do, Incheon, and the five major metropolitan cities rose 0.01%, while other regions moved flat (0.00%).

Seventeen cities and provinces nationwide also saw a little more decline, with seven rising, two flat, and eight falling. By region, Daejeon (0.09%), Chungbuk (0.09%), and Gyeonggi (0.02%) rose.

Unlike sales, jeonse prices of apartments nationwide rose 0.08%. Seoul moved at the same level with 0.09%, Gyeonggi and Incheon at 0.09%, and the Seoul metropolitan area at 0.09%. The five metropolitan cities rose 0.03% and other provinces rose 0.01%. Among the 17 cities and provinces nationwide, rising regions were dominant with 12 rising, 1 flat, and 4 falling. By region, Gyeonggi Province (0.11%), Seoul (0.09%), Jeonbuk (0.08%), Busan (0.05%), and Incheon (0.04%) rose.

Meanwhile, the government seems to have taken a step back as it is feared that apartment sales will be locked up as the capital gains tax on multiple homeowners (hereinafter referred to as capital gains tax) and the timing of its revival (May 9) are just around the corner. The government has come up with a plan to supplement the end of the heavy transfer tax on multiple homes.

Multiple real estate experts said, "It is expected that a stable trend will continue for the time being. It is true that the real estate forces are losing steam. Some view the current capital market movement as a struggle between real estate and securities forces. There have always been soaring real estate and soaring stocks, but there is a judgment in this administration that securities forces are dancing with swords," he said.

In the past, there was a problem when the deputy prime minister of the Park Geun Hye administration said that he was a butler. Recently, people in the securities industry are saying that you should buy stocks by receiving a mortgage loan. The main bank is a system in which only securities firms make money. A stock crash can ruin your loss. In the past, as the securities bubble burst, tinned accounts became a social problem, and many people committed suicide.

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*This content was translated by AI.