Seoul area apartment prices slip for the fifth straight week

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Seoul area apartment prices slip for the fifth straight week

Sale prices of apartments in Seoul and nearby areas kept falling for the past five straight weeks, according to Korea Appraisal Board yesterday.

As of Monday, those in the Seoul metropolitan areas dropped 0.02 percent compared to a week earlier. In Seoul, prices fell 0.05 percent, led by falls in the southern part of the city known as affluent areas. While apartments in Gangnam dropped 0.1 percent, those in Yongsan rose 0.22 percent and 0.14 percent in Eunpyeong in northern Seoul.

Meanwhile, Apartment prices in South Chungcheong, Daegu and South Gyeongsang remarkably went up owing to relocations of public institutions and influx of new populations, compared to the Seoul metropolitan areas. Two-year jeonse prices climbed 0.02 percent across the nation.

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