[Real Estate] Seoul Dongdaemun, August Increase Rate 1.53%

*This content was translated by AI.

Real estate prices rose again in September.

According to data from Real Estate 114, apartment transaction prices for the first week of September increased by 0.1%. In non-capital areas, the increase was 0.03%. Based on all 17 provinces and cities nationwide, 12 regions saw increases, 2 remained flat, and 3 declined, with upward trends prevailing. By region, the order of increases was Gyeonggi (0.19%), Daejeon (0.13%), and Seoul (0.10%).

Apartment rental prices for the first week of September rose by 0.08%. Nationwide, based on all 17 provinces and cities, 11 regions saw increases and 6 saw declines. By region, strong performance was observed in Gyeonggi (0.13%), Daejeon (0.11%), Seoul (0.09%), and others. Meanwhile, the monthly national rental price increase for August was 0.46%, showing a smaller rise compared to the previous month's 0.69%.

Overall, Seoul's monthly fluctuation rate in August stood at 0.55%. However, individual movements across its 25 districts revealed some areas with monthly increases exceeding 1%. Dongdaemun rose by 1.53% over the course of August, while Jungnang (1.30%), Nowon (1.23%), Gangseo (1.23%), Seongbuk (1.18%), and Gwanak (1.06%) also surpassed the 1st% mark. It appears that lower-to-mid-tier market segments gained upward momentum.

The strong performance in mid- to low-priced areas is attributed to tax reform measures, supply-side policies, and financial regulations announced by the government. In particular, during discussions on tax reforms concerning single-homeowners from both resident and non-resident perspectives, a trend shift toward "less concentrated housing" — where tax burdens are lighter — has likely led to increased demand concentration in areas with relatively lower price pressures.

Multiple real estate experts contacted by this newspaper stated, "Although the volume of apartments scheduled for occupancy in September is expected to decrease significantly compared to previous periods, the volume of new apartment sales is projected to rise sharply instead. It remains unclear whether apartment prices will respond more strongly to either supply from new sales or from occupied units."

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*This content was translated by AI.