Nam-ki Hong, “Housing price regardless of region … The speed of transition to a downward safety tax is fast”

yunhap news

Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki (pictured) said on the 5th that the real estate market is “accelerating the transition to a safe downward trend regardless of region.”

Deputy Prime Minister Hong held the first real estate market inspection of the year at the government complex in Seoul on the same day and said, “In the capital of local governments, where the price has dropped due to a contraction in purchasing sentiment in Seoul, the metropolitan area and the whole country (last year), six in the first week of November to the fourth in December. It has been expanded to 30 a week,” he said.

He continued, “In Seoul, the prices of three districts, Eunpyeong, Gangbuk, and Dobong, fell, and 76% of autonomous districts entered the threshold of decline. switched,” he said.

The number of self-governing districts in Seoul, with an apartment weekly increase rate of less than 0.05%, increased from one in the first week of November last year and six in the first week of December to 19 in the fourth week of December. In Seoul, the rate of increase in apartment prices for new apartments less than five years old also changed from 0.16% in the first week of December to -0.00% in the fourth week.

Deputy Prime Minister Hong said, “In the metropolitan area, the number of falling areas has increased rapidly to 10 cities, counties and districts within two weeks after the second week of December, when the first decline in 2021 was observed. The figure is 0.30 percentage points, which is actually the highest level when comparing real estate statistics based on about three months.”

Regarding local housing, he said, “It was reorganized into a buyer’s advantage at the end of December, and in particular, the Sejong sale price index plummeted 0.63%, the highest level ever recorded in the fourth week of December combined with public and private statistics, returning all the price increase last year and returning to the level a year ago.” said.

Deputy Prime Minister Hong said, “I believe that the part of housing prices that has risen excessively in the past will undergo some adjustment process. said.

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