Apartment Prices Continue to Rise in Northeastern Seoul
Seoul apartment sale and jeonse prices have risen, with the northeastern area showing the most notable increase. Check the strong jeonse market and demand shifts in Seoul, and take a look at regional changes.
Amid a simultaneous rise in Seoul apartment sale prices and jeonse prices, the northeastern part of the city saw particularly notable gains. According to the weekly trends released by the Korea Real Estate Board on the 4th, as of the 1st, Seoul apartment sale prices rose 0.25% from the previous week.
The highest increase rates were centered in the northeastern area, including Dongdaemungu, Seongdonggu, Gangbukgu, Seongbukgu, and Jungnanggu, while Gangseogu and Yeongdeungpogu also showed relatively strong upward trends. In Gyeonggi Province, Seongnam's Sujeonggu and Jungwongu, Anyang's Dongangu, Gwangmyeong, Guri, and Hanam also rose. Hwaseong Dongtangu recorded the highest increase rate in the Seoul metropolitan area at 0.60%.
Seoul jeonse prices also rose 0.29% over the same period, extending the strength. This year's cumulative jeonse price increase rate stood at 3.77%, significantly higher than in the same period last year. Experts analyzed that as rising jeonse prices and relatively sluggish sale price increases coincide, demand from singleperson households without homes and newlyweds is flowing into the northeastern area, while demand is also shifting to nearby nonregulated areas.