[Real Estate] Steady Rise

*This content was translated by AI.

The real estate market appears to be maintaining a steady upward trend.

According to data from Real Estate 114, the national apartment transaction prices rose by 0.14% in the second week of July. Seoul increased by 0.16%, while Gyeonggi and Incheon rose by 0.19%, bringing the capital region up by 0.17%. Outside the capital region, the five major metropolitan cities recorded a 0.02% increase, and other local areas saw a 0.01% rise. Based on all 17 provinces and cities nationwide, 12 regions showed an increase, one remained flat, and four declined, with rising areas dominating. Additionally, the monthly national fluctuation rate for June was recorded at 0.57%, marking the second consecutive month of expansion in the rate of increase.

National apartment rental prices also rose by 0.17%. Seoul increased by 0.19%, and Gyeonggi and Incheon rose by 0.20%, leading to an upward adjustment of the capital region's figure to 0.20%. The five major metropolitan cities and other local areas each saw increases of 0.06% and 0.05%, respectively. Based on all 17 provinces and cities nationwide, 16 regions showed an increase and one declined, indicating a strong upward trend. The monthly national rental price change for June rose by 0.66%, remaining largely similar to May.

Two months after the resumption of the additional capital gains tax on multiple property owners (effective May 9), both sellers and buyers in the Seoul apartment market are continuing to take a breather. The number of apartments listed for sale in Seoul, which had risen to nearly 80,000 units just before the tax implementation, has now decreased to around 61,000 units. Similarly, apartment transaction volumes that exceeded 8,500 units in April and May are expected to average between 5,500 and 6,000 units per month in June.

While the trading flow is showing signs of stabilization, new record-high transactions continue for older apartments priced at 1.5 billion won or less, sustaining a trend of price alignment. For example, under the standard exclusive area of 84㎡, 'Magok Sumyeong Mountain Park Phase 1' in Gangseo District reached a new high of 1.395 billion won, and 'Gangbyeon Hansol Solpark' recorded a new high of 1.37 billion won.

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*This content was translated by AI.