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Sales of officetels also rose for the second consecutive quarter due to the rise in apartment prices in Seoul.

In the fourth quarter of last year, the Korea Appraisal Board surveyed officetel prices, which rose 0.40% QoQ, up from 0.08% in the third quarter.

This is a continuous increase in the second half of the second quarter in a row.

Officetels in the northwestern region rose 0.55% more than the Gangnam area in Seoul (0.30%), while the southwestern area (0.50%) and urban areas (0.34%) rose relatively.

Due to the rise in Seoul, sales of officetels across the country recorded -0.06%, falling sharply from the third quarter (-0.25%).

The prices of officetels in Gyeonggi-do and Incheon continued to decline to -0.32% and -0.62%, respectively. Local and other provinces except Daegu (0.11%) also fell.

An official from the appraisal agency said, "Except Seoul, officetel demand continued to fall, while demand for officetels continued to fall. In particular, the provinces continued to weaken due to the declining population and the sluggish regional economy."

Officetel Jeonset prices rose in some areas, including Seoul (0.40%), Sejong (0.56%), and Daegu (0.40%), while Ulsan (-0.77%), Gwangju (-0.60%), Busan (-0.27%) and Incheon (- 0.17%) and Daejeon (-0.06%) fell.

In Seoul, the recent rise in apartment charter prices also affected the rise in officetel charter prices.

Gyeonggi-do (-0.17%) also continued to decline, as supply volume, including new officetels and urban living houses, increased.

Officetel rents rose slightly to 0.06% in Seoul and 0.01% in Daegu, but fell 0.46% in rural areas and 0.21% nationwide.

The nationwide officetel rent to cheonsei ratio was 5.17%, and the officetel yield was 5.45%, slightly lower than the previous quarter.

(Photo: Provided by R & D Center, Yonhap News)