Apartment prices in Seoul rose by 86.5% over the past four years under the Moon administration… All-time high

View of the apartment complex from Namsan in Seoul. yunhap news

In the four years since the inauguration of the Moon Jae-in administration, the rate of increase in apartment prices in Seoul was higher than during the Roh Moo-hyun administration. In fact, it is the highest increase in the history of the government.

On the 10th, Real Today, a real estate research company, analyzed the average apartment sale price for four years by government, and as a result, the average apartment price in Seoul per 3.3 sq. rose This is higher than any previous government since 2003, when real estate-related data disclosure began to be systematized.

The Roh Moo-hyun administration, which can be said to be the root of the Moon Jae-in administration in real estate policy, rose 74.6% from 10.45 million won in February 2003 to 18.24 million won four years later. On the other hand, under the Lee Myung-bak administration, it fell 2.6% from 18.57 million won in February 2008 to 18.08 million won in February 2012. The Park Geun-hye administration rose 18.6% from 16.81 million won at the beginning of her inauguration (February 2013) to 1,93 million won four years later (February 2017).

According to the national standard, apartment prices have risen 62.2% over the past four years under the Moon Jae-in administration. Sejong recorded the highest increase among 17 local governments with 113.8%, followed by Daejeon (73.0%), Seoul (86.5%) and Gyeonggi (64.27%).

The Moon Jae-in administration also took the first place in the history of Seoul apartment subscription competition with 37.3 to 1. During the same period, the Park Geun-hye administration recorded 11.6 to 1, the Lee Myung-bak administration 3.3 to 1, and the Roh Moo-hyun administration 16.6 to 1. As apartment prices jumped sharply, the demand for pre-sale also increased.

As expectations for the easing of reconstruction regulations do not fade, apartment prices in Seoul have continued to rise by 0.1% for four weeks in a row. According to the weekly apartment price trend announced by the Korea Real Estate Agency on the same day, apartment prices in Seoul rose 0.11% in the first week of June (as of the 7th), maintaining the same increase as last week.

Reporter Park Se-joon [email protected]

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Source: 경제 by www.segye.com.

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