Over the same period, the number of apartment transactions in the metropolitan area and nationwide also showed the largest decline since the survey began in 2006.
Looking at the Apartment Transaction Price Index compiled by the Korean Real Estate Agency today (18th), the Nationwide Apartment Transaction Price Index fell 1.88% in August and the cumulative rate of decline it reached -5.16% until August of this year.
From January to August, the previous maximum decline was -1.71% in 2010 and the previous maximum year-on-year decline was -4.01% in 2008.
In August, the real transaction price index for apartments in the metropolitan area also fell by 2.53%, with a cumulative decline of 7.65%.
This broke the previous record of -6.81% in 2012, the largest annual decline.
The Seoul Apartment Transaction Price Index also fell 2.56% in August, resulting in a cumulative -6.63% drop this year.
A real estate agency official explained: “Amid the chasm of the transaction caused by the recent increase in interest rates, only a small number of properties with lower prices than the previous transaction are sold, leading to a drop in the price index of the property. actual transaction. ”
In August, the real transaction price index of apartments by district in Seoul fell the most in the southeast with the so-called Gangnam 4 districts at -3.16%.
The southwestern region, including Yeongdeungpo, Yangcheon, and Gangseo-gu, fell 2.80%, followed by the northeastern region, including Nowon, Dobong, and Gangbuk-gu, down 2.41%, and the north-western region, including Eunpyeong, Mapo and Seodaemun -gu, down 1.66% respectively.
The real transaction price index for apartments in non-metropolitan areas fell 1.14% in August and a cumulative decline of 2.04% from January to August this year.
