Apartment prices in the Seoul metropolitan area have turned upward for the first time in about a year and five months.
The warmth in the real estate market, which started with a rise in Gangnam, is gradually spreading.
Reporter Lee Hanna went to the scene.
[Reporter]
This is an apartment in Jamsil-dong, Songpa-gu, Seoul.
The 59-square-meter apartment dedicated to Trigium Apartments was sold for 1.21 billion won earlier this year, but quickly increased in price and sold for 1.75 billion won last month.
That’s an increase of over 500 million won in just four months.
An 82-square-meter unit in Jamsil Jugong Apartment Complex 5 jumped from 2.3 billion won earlier this year to 2.8 billion won last month.
A 59-square-meter unit dedicated to Jamsil Liesenz Apartments, which sold for 1.63 billion won in February, also recently changed hands for 1.8 billion won.
[Yang Min-ho / Realtor, Jamsil-dong, Songpa-gu, Seoul: It’s true that there are a lot of sales from the point of view of buyers, waiting buyers, to enter the market at this price and acquire it and live in it or own it. I think the actual transaction price is also up about 300 million from last December].
Apartment prices in Southeast Seoul, which includes the four districts of Gangnam, rose for the eighth week in a row, including 0.3% in Songpa and 0.2% in Gangnam안전놀이터.
With this effect, Seoul rose for the third consecutive week and the metropolitan area rebounded for the first time in 17 months.
[Doo Sung-kyu / CEO, Mokmin Institute for Economic Policy Research: Considering the current increase in transaction volume and the positive turn in house prices in the Seoul metropolitan area and Seoul, it can be judged that the bottoming out process is rapidly progressing as new buyers are entering the market].
This month, the Seoul Apartment Sales Outlook Index registered 105.9, the first time in 13 months that the index has been above 100.
However, the Housing Industry Research Institute predicts that the polarization and localization of the condominium market will intensify due to the uncertainty of business success except for certain complexes in Seoul.