A property listing board at a real estate agency in central Seoul. [The Herald Business DB]
A property listing board at a real estate agency in central Seoul. [The Herald Business DB]

Both sale prices and jeonse rates for housing in Seoul posted their steepest monthly gains of the year in June.

According to the Korea Real Estate Board's June nationwide housing price survey released Wednesday, Seoul housing sale prices rose 1.03% last month, accelerating from 0.90% in May. After starting the year at 0.91% in January, the pace of gains slowed to 0.66% in February and 0.39% in March before rebounding to 0.55% in April and picking up further in May — marking three consecutive months of widening increases.

By district, Seongbuk-gu led all 25 Seoul districts with a 1.39% gain, driven by large complexes in the Gireum and Jongam-dong areas. Gwangjin-gu rose 1.31%, led by Jayang and Gwangjang-dong, while Guro-gu also climbed 1.31%, concentrated in transit-oriented areas around Gaebong and Guro-dong. Dongdaemun-gu gained 1.28%, centered on Dapsimni and Jangan-dong, and Seongdong-gu rose 1.23%, driven by major complexes in Haengdang and Oksu-dong.

In Gireum-dong, Seongbuk-gu, an 84-square-meter unit on the third floor of Raemian Gireum Centerpiece sold June 5 for a record 1.85 billion won ($1.24 million) — about 500 million won more than its price a year earlier. In Jongam-dong, a 17th-floor unit at Raemian Crieciel set a high of 1.11 billion won on May 16, while a first-floor unit in the same complex sold for 1 billion won on June 12. The building had been trading below 900 million won just a year ago.

Gyeonggi Province housing sale prices rose 0.59%, a sharp acceleration from 0.31% the previous month, led by major complexes in Hwaseong's Dongtan district, Seongnam's Bundang district and Anyang's Dongan district. Incheon also turned positive, rising 0.11% — led by Yeonsu, Dong and Seo-gu — after falling 0.06% the month before.

"While a wait-and-see mood was evident in some outlying areas and older complexes, demand concentrated on reconstruction projects, large complexes and transit-oriented areas, driving sales contracts higher," a Korea Real Estate Board official said.

Seoul jeonse prices rose 1.08% in June, the highest monthly gain of the year, accelerating from 0.91% in May and surpassing the 1% threshold on a monthly basis for the first time this year.

Seongdong-gu posted the sharpest jeonse increase in Seoul at 2.08%, driven by major complexes in Haengdang and Seongsu-dong. Nowon-gu rose 1.78%, centered on transit-oriented areas in Sanggye and Junggye-dong; Dobong-gu climbed 1.56%, led by large complexes in Chang and Dobong-dong; and Songpa-gu gained 1.53%, driven by large complexes in Jamsil and Sincheon-dong. Seongbuk-gu also rose 1.50%, concentrated in Gireum and Hawolgok-dong.

Gyeonggi Province jeonse prices rose 0.58%, up from 0.51% the previous month, led by major complexes in Hwaseong's Dongtan district and in Gwangmyeong and Guri. Incheon gained 0.29%, driven by large complexes in Yeonsu, Seo and Bupyeong-gu.

Meanwhile, the average overall housing sale price in Seoul reached 1,010,070,000 won last month — the first time it has crossed the 1 billion won mark since the statistics were first compiled — before climbing a further 2.61 million won to 1,012,680,000 won.

"In Seoul, rental inquiries have continued to flow steadily toward large complexes and transit-oriented areas with favorable living conditions, sustaining upward pressure on jeonse prices," a Korea Real Estate Board official said.


quq@heraldcorp.com