[Real Estate] Seoul real estate remains stable

*This content was translated by AI.

Seoul real estate continues to show a stable trend even into May.

According to Real Estate R114 data, the national apartment transaction price for the first week of May is reported to have fallen by 0.01%.

Seoul recorded a flat change (0.00%), while Gyeonggi and Incheon showed a -0.02% change rate, and the metropolitan area showed a -0.01% change rate. Non-metropolitan areas recorded -0.04% for the five major metropolitan cities and -0.01% for other local areas. The monthly national change rate for April was 0.17%, showing a slowdown in the rate of increase for two consecutive months (the 0.58% → the 0.35% → the 0.17%).

In contrast, Seoul apartment jeonse prices rose by 0.1%, and overall increased by 0.08%, showing the same change rate compared to the previous week.,

The most significant increases were in Gyeonggi and Incheon at 0.08%, and the metropolitan area at 0.09%, while the five major metropolitan cities and other local areas rose by 0.04% and 0.01%, respectively. Out of 17 provinces and cities nationwide, 13 saw increases.

Recent real estate trends suggest that a further downward trend is likely to continue.

The 2026 public appraisal prices for residential housing have been released. While the national average rose by 9.13%, Seoul, the barometer of real estate, surged by a remarkable 18.6%. This is because apartment owners in Seoul are expected to face a significantly increased property tax burden compared to last year. However, expectations from real estate experts are almost the opposite.

Real estate expert A stated, "The government's basic policy is to suppress real estate. Given the strong drive, the stable trend in real estate will likely continue for the time being. There is no such thing as a tax-free real estate. It can be seen that the administration's intention to pour money tied up in real estate into the stock market has been somewhat successful."

However, real estate practitioner B said, "No government has ever succeeded in controlling real estate. Fundamentally, the current inventory is shrinking. When there is money and people who want to buy, but no properties available, real estate prices rise. Koreans still have a strong attachment to homes. The Democratic Party governments of Roh Moo-hyun and Moon Jae-in collapsed under real estate pressure, yet it seems they are doing the same thing again. Ironically, both governments that failed in real estate ended up causing a massive surge in property prices."

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*This content was translated by AI.