[Real Estate] Seoul apartments rise 0.03%

*This content was translated by AI.View Original

Seoul real estate does not stop.

According to data from Real Estate 114, the national apartment transaction prices in the third week of September rose by 0.04%.

Seoul increased by 0.03%, while Gyeonggi and Incheon rose slightly by 0.07%, leading the metropolitan area to rise by 0.05%. Outside the metropolitan area, the five major cities rose by 0.02%, while other regions remained flat (0.00%). Based on the 17th provinces and cities nationwide, eight saw increases and nine saw decreases, showing a roughly even split.

In the third week of September, national apartment rental prices rose by a larger margin of 0.12% compared to transaction prices. Seoul increased by 0.17%, and Gyeonggi and Incheon rose by 0.13%, leading the metropolitan area to be adjusted upward by 0.15%. The five major cities and other regions rose by 0.05% and 0.02%, respectively. Based on the 17th provinces and cities nationwide, 13 saw increases, two remained flat, and two declined, with more areas showing increases.

The government extended the deadline for applications to defer actual residence requirements within land transaction permission zones (hereinafter referred to as "land transaction permission system") until 2027 to improve housing transaction conditions and enhance rental stability for tenants. Following the the 15th measures, which designated the entire Seoul area and 12 regions in Gyeonggi Province (adding three more regions in July this year, totaling 15) as metropolitan-level zones, the rental market became unstable. The government's recent move can be seen as offering some solutions to address these concerns.

A real estate expert who spoke with this newspaper by phone stated, "This measure can be viewed positively as it simultaneously promotes transaction stability and tenant security within land transaction permission zones."

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*This content was translated by AI.View Original