Seoul apartment prices may rise for 85 consecutive weeks
Seoul apartment prices are on the rise, climbing for 85 consecutive weeks and surging a cumulative 17.4% Check the current trend driven by housing cost burdens caused by supply shortages and policy confusion
As the rise in Seoul apartment prices continues, if the results of the survey on the 24th go up, it will set a record of 85 consecutive weeks of increases, the longest ever. The cumulative increase rate is 17.4%, indicating that housing prices across Seoul have risen significantly over the past 1 year and 8 months.
Not only the Gangnam 3 districts and Han River belt areas, but also relatively lowerpriced areas such as Seongbuk, Gangseo, and Guro districts rose as well. In addition to sales prices, jeonse prices and monthly rents have also increased, raising concerns that the burden of housing costs has grown.
The article reported that Seoul's housing supply shortage, sluggish supply measures, and frequent changes in real estate policies such as the residence requirement in land transaction permit zones and the comprehensive real estate tax standards are increasing market instability and confusion. Experts emphasized that along with expanding supply, a consistent policy message is needed.