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An Increase in Housing Costs in Seoul Driven by ‘Nodogang’

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In January, the index of real transaction prices for apartments in Seoul increased by 0.8%, turning to an upward trend for the first time in 7 months.

At the beginning of the year, the impact of various real estate deregulations had a significant impact on the increase in quick sale transactions.

Reporter Kim Seong-hyun reports.

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The increase in the real transaction price index for apartments in Seoul in January announced by the Korea Real Estate Agency was 0.8%, which is the first time in 7 months since June of last year that the index increased compared to the previous month.

Specifically, so-called ‘No-Do-Gang’ areas such as Nowon, Dobong, and Gangbuk recorded the highest rate of increase at 1.69%, followed by the northwest region such as Mapo and Eunpyeong, and the four Gangnam districts with an increase of 1.61% each.

On the other hand, the downtown area, including Jongno and Yongsan-gu, and the southwest area, such as Yeongdeungpo and Yangcheon, fell.

The reason why the actual transaction price of apartments in Seoul rose was because all areas except Gangnam District 3 and Yongsan-gu were released from regulated areas in January of this year, and rapid sales increased as various deregulations were implemented.

In January of this year, Seoul apartment transaction volume was 1,419, exceeding 1,000 monthly transaction for the first time since June last year, and surpassed 2,000 last month.

However, the January actual transaction price index in Gyeonggi-do and Incheon fell by 1.35% and 0.58%, respectively, from December last year, and the overall metropolitan area fell by 0.58%.

The national apartment actual transaction price index was also counted down by 0.79% as the index in the provinces fell by 1%.

Among regional metropolitan cities and provinces in January, the actual transaction price index rose in three places: Gwangju, Ulsan, and Jeju.

The February real transaction price index, which will be officially announced next month, is tentatively predicted to rise in all regions due to the influence of active quick sale transactions.

The Real Estate Agency predicted that Seoul would rise by 1.55%, nationwide by 0.91%, and the metropolitan area by about 1.38%.

This is MBC News Kim Seong-hyun.

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