Last month, it was found that the nationwide house price turned downward for the first time in two years and ten months.
According to a survey by the Korea Real Estate Agency today (15th), the total housing price nationwide (including apartments, row houses, and single-family houses) in June fell by 0.01% compared to the previous month.
It is the first time in two years and ten months since August 2019 (-0.05%) that monthly house prices have fallen nationwide.
In particular, by housing type, the nationwide apartment price fell 0.10% last month, doubling the drop from the previous month (-0.05%).
It is also the highest monthly decline this year.
This seems to be the result of a growing perception that house prices are at their peak while the housing sales market is plunged into an extreme 'trade cliff' due to high-strength loan regulations and pressure to raise the base rate.
It is also believed that Korea was under pressure to raise the key interest rate sharply as the US took a 'giant step' (0.75%p rate hike at a time) last month to respond to inflation.
In addition, as a red light is lit on the global economy due to continued high inflation and concerns about austerity, the domestic real estate market is in a prevailing view that house prices will be adjusted for a while.
In the first half of this year (January to June), the nationwide apartment price fell 0.16%, while the metropolitan area (Seoul, Gyeonggi, Incheon) fell 0.47%, a relatively large drop.
In Seoul, apartment prices fell 0.08% last month, showing the same rate of decline as in February.
In the six months this year, new apartment prices in Seoul have fallen by 0.25%.
Apartment prices in Gyeonggi and Incheon fell 0.16% and 0.23%, respectively, last month, recording the highest monthly decline this year.
The cumulative decline in the first half of the two regions reached 0.56% and 0.61%, respectively.
Local apartment prices also fell for two consecutive months in May (-0.01%) and June (-0.06%), but rose 0.13% in the first half as a whole.
Nationwide, apartment prices are under strong downward pressure, but townhouse and detached house prices remain strong.
Last month, the national row house (villa) price rose 0.04%, turning back to an increase from the previous month (-0.02%), and the price of detached houses maintained the highest monthly increase rate (0.24%) for three consecutive months from April.
The Jeonse market also showed weakness as the summer low season began in earnest last month.
The nationwide housing jeonse price turned from a flat (0.00%) in May to a decrease of 0.02% last month.
By housing type, the price of only apartments in the jeonse market has been on a downward trend this year.
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The nationwide apartment Jeonse price has fallen for five consecutive months (-0.04%→-0.08%→-0.03%→-0.05%→-0.08%) since February.
Jeonse prices for apartments in the metropolitan area continued to decline for six months this year, with a cumulative decline rate of 0.64% in the first half of this year.
Among the metropolitan areas, Jeonse prices in Incheon recorded the highest decline this year (-0.49%) last month, dropping 1.95% on a cumulative basis in the first half of the year.
In particular, the Jeonse price for apartments in Yeonsu-gu fell by 6.16% during this period, recording the highest drop rate in the district as of the first half of 2003, when the Real Estate Agency started collecting statistics.
Jeonse prices for apartments in provincial areas fell for the second month in a row with a sharp decline in May (-0.02%) and June (-0.05%), but rose 0.19% in the first half as a whole.
In the first half of the year, Daegu Jung-gu (-9.20%) and Dalseo-gu (-7.47%) recorded the highest decline in apartment rental prices in the region, while Sejong City (-7.39%) also showed a sharp decline.
The Real Estate Agency explained, "In Sejong, the market was affected by a backlog of sales and trading sentiment contracted, and in Daegu, the price of jeonse fell mainly in Jung- and Dalseo-gu, which is affected by new occupancy."
On the other hand, with monthly rental transactions exceeding half in the nationwide housing jeon/monthly rental market, the monthly rent continues to rise, increasing the burden on the common people.
The national comprehensive monthly rent rose 0.90% in the first half of the year, the second highest in history, following 1.03% in the same period last year.
Monthly rent in the metropolitan area rose 0.18% last month, slightly expanding compared to the previous month (0.17%).
In Seoul (0.06%), the monthly rent increased mainly in station areas with good traffic conditions amid increasing demand for monthly rent due to interest rate hikes.
Gyeonggi (0.27%) said that the monthly rent rose mainly in Songdo-dong, Yeonsu-gu, mainly due to increased demand for monthly rent in Gyeonggi (0.27%), mainly in areas that were perceived as undervalued, such as Icheon-si and Siheung-si, or where there was demand for direct housing. has told