Seoul Apartment Sales and Jeonse Transactions Decrease in May
Seoul apartment transactions decreased, and both sales and jeonse fell in May Take a look at price and regional trends, as well as rental market changes, all at a glance
In May, both apartment sales and jeonse transactions in Seoul were found to have decreased compared to the previous month. According to Seoul City statistics, sales transaction volume fell 15.2% from April to 7,282 cases, and jeonse transaction volume decreased 12.0% to 7,741 cases.
Sales transactions had shown an increasing trend since last December, but after the end of the grace period for the heavy capital gains tax on multihomeowners on May 9, they turned downward. However, compared with January, transaction volume is still at a higher level.
By price range, the share of apartment transactions priced at 1.5 billion won or less rose slightly to 76.4% from the previous month. By district, Nowongu recorded the most transactions, followed by Gurogu and Gangseogu. In the rental market, the share of monthly rent rose to a level similar to jeonse, and as of May, it was tallied at 51.0% for jeonse and 49.0% for monthly rent.