As real estate prices rise, only this area is avoided… “I can’t take it anymore” shouts Yeongkkeul

2024-05-11 23:15:12

Seoul apartment prices rise for 7 consecutive weeks
“Nodogang”, where young people’s purchases were concentrated, fell

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In front of a real estate agency in Seoul. [사진 출처 = 연합뉴스]

Even though apartment prices in Seoul continue to rise for seven consecutive weeks, the decline continues in Nodogang (Nowon-gu, Dobong-gu, Gangbuk-gu), where demand for Yeongkkeul (filled with soul) is concentrated. .

According to the Korea Real Estate Board’s weekly apartment price developments on the 10th, apartment prices in Seoul increased by 0.03% in the first week of May, showing an upward trend for 7 consecutive weeks. The increase was the same as the previous week.

The rise in property prices was noticeable in Yongsan-gu and Seongdong-gu. Among Seoul’s autonomous districts, the one with the highest increase was Yongsan-gu (0.14%).

Seongdong-gu recorded the second largest increase, with a rise of 0.13 percent, followed by Mapo-gu (0.09 percent).

The upward trend in the three districts of Gangnam was also evident. Gangnam-gu increased by 0.08%, Seocho-gu by 0.07%, and Songpa-gu by 0.05%.

In addition, Yeongdeungpo-gu, where apartments along the Han River are concentrated, increased by 0.06 percent and Dongjak-gu by 0.03 percent.

On the other hand, Nodogang had a different vibe. Nowon-gu recorded a decline of 0.02%, the same as the previous week, for 27 consecutive weeks.

Dobong-gu also recorded the same decline (-0.01%) as the previous week, a decline for 25 consecutive weeks.

Gangbuk-gu fell 0.02%, increasing the decline from the previous week (-0.01%) and showing a downward trend for 27 consecutive weeks.

Even looking at the transaction price disclosure system of the Ministry of Land, Infrastructure and Transport, the downward trend of Nodo River is noticeable.

An 84㎡ (3rd floor) unit exclusively for Ssangmun e-Pyunhan World in Ssangmun-dong, Dobong-gu, was traded for 630 million won last month. It decreased by 30 million won from 630 million won in the previous month (3rd floor) and 88 million won from 688 million won in February (7th floor).

Dong-A Cheongsol in Chang-dong, Dobong-gu, sold a 59㎡ (14th floor) exclusive property last month for 645 million won. The price is 35 million won lower than the previous month’s price of 680 million won (14th floor).

An exclusive 59㎡ (5th floor) space in Junggye Geumho Town, Junggye-dong, Nowon-gu, was sold for 495 million won last month. Compared to last February, when a property on the same floor was traded for 525 million won, the price dropped by 30 million won in two months.

Experts believe that it will be difficult to raise prices in the Nodogang region at the moment due to the falling redevelopment and reconstruction market and high interest rates.

As this is an area where the purchasing power of Yeongkeul residents, who are sensitive to loan interest rates, is strong, more properties are expected to be sold quickly.

Meanwhile, the agglomeration, which had shown a downward trend the previous week, returned to a flat rate (0.00%). Incheon increased by 0.04%, increasing the increase from the previous week (0.02%). On the other hand, the economy fell by 0.03%. The drop was the same as the previous week.

The provinces fell 0.04%. The five major metropolitan cities (Busan, Daegu, Ulsan, Gwangju and Daejeon) fell 0.05%, and Sejong also fell 0.18%. Eight provinces fell 0.02%.

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