Seoul apartment prices growth slows down; interest rate cuts unlikely to have an impact
입력 2024.10.11 (00:49)
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[Anchor]
The price of apartments in Seoul has risen for 29 consecutive weeks, but the upward trend seems to have slowed down following the government's loan regulations.
Although a decrease in the base interest rate is expected in the future, it is projected that this will not change the current trend.
Lee Kwang-yeol reports.
[Report]
In the first week of October, the sale price of apartments in Seoul was found to have increased by 0.1%.
According to the Korea Real Estate Agency, since the second week of September, the sale price of apartments in Seoul has been rising, but the rate of increase has been decreasing, and this time it maintained the same 0.1% increase as last week.
It has been 29 weeks of rising prices, but the momentum has weakened.
Apartment prices in Seoul showed signs of overheating, rising up to 0.3% in July and August, but the rate of increase has slowed down following the government's supply measures and loan regulations.
By district, while the rate of increase in Dongdaemun, Guro, and Gwanak districts has decreased compared to last week, areas like Gangnam, Mapo, Yongsan, and Seongdong have shown a larger increase, highlighting the differences.
[Kim Kyung-hoon/Head of Housing Statistics Department, Korea Real Estate Agency: "With the recent slowdown in price increases, the wait-and-see sentiment among buyers has solidified, leading to an increase in listings and a decrease in transaction volume. However, localized increases in transactions due to demand for new constructions and school districts are being observed..."]
Transaction volume has also significantly decreased.
After peaking at over 8,800 cases in July, it has been declining for two consecutive months, contributing to the stabilization of prices.
While a decrease in the base interest rate is expected in the future, the prevailing outlook is that it will not have a significant impact on the trend of declining apartment prices in Seoul.
[Park Won-gap/Senior Real Estate Expert, KB Kookmin Bank: "Expectations for a base rate cut have already been factored in, and the market may be more strongly influenced by loan regulations than by interest rate cuts."]
[Ham Young-jin/Head of Real Estate Research Lab, Woori Bank: "If additional rate cuts are realized next year, a slight upward trend may reappear in some areas, but it is unlikely to expect that in the fourth quarter of this year."]
The rental prices of apartments in Seoul have also shown a slight slowdown in the upward trend, maintaining the same 0.1% increase as last week.
KBS News, Lee Kwang-yeol.
The price of apartments in Seoul has risen for 29 consecutive weeks, but the upward trend seems to have slowed down following the government's loan regulations.
Although a decrease in the base interest rate is expected in the future, it is projected that this will not change the current trend.
Lee Kwang-yeol reports.
[Report]
In the first week of October, the sale price of apartments in Seoul was found to have increased by 0.1%.
According to the Korea Real Estate Agency, since the second week of September, the sale price of apartments in Seoul has been rising, but the rate of increase has been decreasing, and this time it maintained the same 0.1% increase as last week.
It has been 29 weeks of rising prices, but the momentum has weakened.
Apartment prices in Seoul showed signs of overheating, rising up to 0.3% in July and August, but the rate of increase has slowed down following the government's supply measures and loan regulations.
By district, while the rate of increase in Dongdaemun, Guro, and Gwanak districts has decreased compared to last week, areas like Gangnam, Mapo, Yongsan, and Seongdong have shown a larger increase, highlighting the differences.
[Kim Kyung-hoon/Head of Housing Statistics Department, Korea Real Estate Agency: "With the recent slowdown in price increases, the wait-and-see sentiment among buyers has solidified, leading to an increase in listings and a decrease in transaction volume. However, localized increases in transactions due to demand for new constructions and school districts are being observed..."]
Transaction volume has also significantly decreased.
After peaking at over 8,800 cases in July, it has been declining for two consecutive months, contributing to the stabilization of prices.
While a decrease in the base interest rate is expected in the future, the prevailing outlook is that it will not have a significant impact on the trend of declining apartment prices in Seoul.
[Park Won-gap/Senior Real Estate Expert, KB Kookmin Bank: "Expectations for a base rate cut have already been factored in, and the market may be more strongly influenced by loan regulations than by interest rate cuts."]
[Ham Young-jin/Head of Real Estate Research Lab, Woori Bank: "If additional rate cuts are realized next year, a slight upward trend may reappear in some areas, but it is unlikely to expect that in the fourth quarter of this year."]
The rental prices of apartments in Seoul have also shown a slight slowdown in the upward trend, maintaining the same 0.1% increase as last week.
KBS News, Lee Kwang-yeol.
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- Seoul apartment prices growth slows down; interest rate cuts unlikely to have an impact
-
- 입력 2024-10-11 00:49:40

[Anchor]
The price of apartments in Seoul has risen for 29 consecutive weeks, but the upward trend seems to have slowed down following the government's loan regulations.
Although a decrease in the base interest rate is expected in the future, it is projected that this will not change the current trend.
Lee Kwang-yeol reports.
[Report]
In the first week of October, the sale price of apartments in Seoul was found to have increased by 0.1%.
According to the Korea Real Estate Agency, since the second week of September, the sale price of apartments in Seoul has been rising, but the rate of increase has been decreasing, and this time it maintained the same 0.1% increase as last week.
It has been 29 weeks of rising prices, but the momentum has weakened.
Apartment prices in Seoul showed signs of overheating, rising up to 0.3% in July and August, but the rate of increase has slowed down following the government's supply measures and loan regulations.
By district, while the rate of increase in Dongdaemun, Guro, and Gwanak districts has decreased compared to last week, areas like Gangnam, Mapo, Yongsan, and Seongdong have shown a larger increase, highlighting the differences.
[Kim Kyung-hoon/Head of Housing Statistics Department, Korea Real Estate Agency: "With the recent slowdown in price increases, the wait-and-see sentiment among buyers has solidified, leading to an increase in listings and a decrease in transaction volume. However, localized increases in transactions due to demand for new constructions and school districts are being observed..."]
Transaction volume has also significantly decreased.
After peaking at over 8,800 cases in July, it has been declining for two consecutive months, contributing to the stabilization of prices.
While a decrease in the base interest rate is expected in the future, the prevailing outlook is that it will not have a significant impact on the trend of declining apartment prices in Seoul.
[Park Won-gap/Senior Real Estate Expert, KB Kookmin Bank: "Expectations for a base rate cut have already been factored in, and the market may be more strongly influenced by loan regulations than by interest rate cuts."]
[Ham Young-jin/Head of Real Estate Research Lab, Woori Bank: "If additional rate cuts are realized next year, a slight upward trend may reappear in some areas, but it is unlikely to expect that in the fourth quarter of this year."]
The rental prices of apartments in Seoul have also shown a slight slowdown in the upward trend, maintaining the same 0.1% increase as last week.
KBS News, Lee Kwang-yeol.
The price of apartments in Seoul has risen for 29 consecutive weeks, but the upward trend seems to have slowed down following the government's loan regulations.
Although a decrease in the base interest rate is expected in the future, it is projected that this will not change the current trend.
Lee Kwang-yeol reports.
[Report]
In the first week of October, the sale price of apartments in Seoul was found to have increased by 0.1%.
According to the Korea Real Estate Agency, since the second week of September, the sale price of apartments in Seoul has been rising, but the rate of increase has been decreasing, and this time it maintained the same 0.1% increase as last week.
It has been 29 weeks of rising prices, but the momentum has weakened.
Apartment prices in Seoul showed signs of overheating, rising up to 0.3% in July and August, but the rate of increase has slowed down following the government's supply measures and loan regulations.
By district, while the rate of increase in Dongdaemun, Guro, and Gwanak districts has decreased compared to last week, areas like Gangnam, Mapo, Yongsan, and Seongdong have shown a larger increase, highlighting the differences.
[Kim Kyung-hoon/Head of Housing Statistics Department, Korea Real Estate Agency: "With the recent slowdown in price increases, the wait-and-see sentiment among buyers has solidified, leading to an increase in listings and a decrease in transaction volume. However, localized increases in transactions due to demand for new constructions and school districts are being observed..."]
Transaction volume has also significantly decreased.
After peaking at over 8,800 cases in July, it has been declining for two consecutive months, contributing to the stabilization of prices.
While a decrease in the base interest rate is expected in the future, the prevailing outlook is that it will not have a significant impact on the trend of declining apartment prices in Seoul.
[Park Won-gap/Senior Real Estate Expert, KB Kookmin Bank: "Expectations for a base rate cut have already been factored in, and the market may be more strongly influenced by loan regulations than by interest rate cuts."]
[Ham Young-jin/Head of Real Estate Research Lab, Woori Bank: "If additional rate cuts are realized next year, a slight upward trend may reappear in some areas, but it is unlikely to expect that in the fourth quarter of this year."]
The rental prices of apartments in Seoul have also shown a slight slowdown in the upward trend, maintaining the same 0.1% increase as last week.
KBS News, Lee Kwang-yeol.
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