Increased Proportion of Transactions with Rising Prices in Sejong by 7.4%p Compared to March
Decreased Proportion of Transactions with Rising Prices in Seoul and Gyeonggi…Observational Stance Prevails, ‘Last month, it was found that 5 out of 10 apartment transactions in Sejong were made at higher prices than previous transactions.’,
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Sejong City Apartment View. Yonhap News,
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, ‘According to an analysis by Zigbang of the Ministry of Land, Infrastructure and Transport’s real transaction data on the 19th, the proportion of rising transactions in Sejong City in April was 52.7%, an increase of 7.4%p compared to the previous month (45.3%). This is the highest level in 22 months (June 2023, 53.2%).’,
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, Sejong, Highest Proportion of Rising Transactions in 22 Months,
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, ‘In April alone, the total number of apartment sales transactions in Sejong City was 1,197, of which 631 were traded at a higher price than the previous transaction. The proportion of rising transactions in Sejong has increased for five consecutive months since December last year.’,
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, ‘The increase in rising transactions in Sejong reflects recent expectations for the relocation of public institutions and administrative capital and infrastructure expansion. Sejong had experienced a period of adjusted prices due to concentrated supply, and the increased buyer inflow based on the perception of a price bottom is believed to have affected the expansion of rising transaction proportions.’,
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, ‘In Sejong, the transaction volumes were: △Goun-dong 83 cases △Saerom-dong 66 cases △Dodam-dong 63 cases △Dajeong-dong 63 cases △Jongchon-dong 60 cases. Goun-dong Garak Village 6th Complex exclusive 59㎡ was traded for 380 million won, about 10% higher than the previous average transaction price (345 million won). Saerom-dong Saetteum Village 7th Complex 84㎡ was transferred at 570 million won. This is 11% higher than the previous average transaction price (515 million won).’,
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, Nationwide April Apartment Rising Transaction Proportion 43.7%…Increase Slows,
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, ‘As of April, the proportion of rising transactions in nationwide apartment sales was 43.7%. It had been increasing for four consecutive months since December last year, but turned to a downward trend in April. With persistent internal and external uncertainties, an observational stance continues in the apartment transaction market, causing overall buyer sentiment to slow down.’,
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, ‘By region, the proportion of rising transactions in the metropolitan area was 43.7%, a decrease of 1.7%p compared to the previous month. In local regions, it was similar to the previous month’s 43.5%, standing at 43.6%. By area in the metropolitan region: △Seoul 46.8%(-2.9%p) △Gyeonggi 42.5%(-0.7%p), the proportion of rising transactions decreased compared to the previous month, while Incheon showed a slight increase at 43.6%(1.0%p).’,
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, ‘After the re-designation of the Land Transaction Permission System, the market largely showed an observational stance, except for a local upward trend centered around the Gangnam area in Seoul. Most regions, excluding some high-priced complexes, have seen a decline in purchasing sentiment, leading to a decrease in the proportion of rising transactions.’,
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, Non-Metropolitan Areas Also Observing,
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, ‘In non-metropolitan areas, the proportion of rising transactions was 43.6%, similar to the previous month (43.5%). After Sejong, the areas with increased proportions of rising transactions were: △Gwangju Metropolitan City 44.8%(2.4%p) △Jeonnam 44.6%(2.2%p). In Gwangju’s northern district and Jeonnam, where the entry price barrier is lower compared to metropolitan areas, transactions with rising prices increased, especially in small-square-foot areas.’,
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, ‘In April, the apartment market nationwide saw a slow down in the proportion of rising transactions, with an observational stance spreading. In most regions in the metropolitan area and other regions, buying sentiment dwindled, and transactions became stagnant. Particularly, except for the Gangnam area influenced by re-designated land transaction permission in Seoul, buying sentiment weakened, and only Sejong saw a significant increase in the proportion of rising transactions. ‘,
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, ‘Min-young Kim, a manager at the Big Data Lab, explained, “Sejong saw a rebound in both transactions and prices due to expectations of public institution relocation, the perception of low prices, and inflow of real demand, and this rebound is a localized phenomenon due to specific regional factors,” adding, “Uncertainty regarding the realization of policies and structural challenges such as wide area transportation networks and self-sufficiency functions continue to act as burdens, and it is necessary to consider past cases where short-term expectations led to long-term adjustments.”‘,
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