P. 1
Economic Bulletin (Vol. 33 No.8)

Economic Bulletin (Vol. 33 No.8)

|Views: 85|Likes:
-The Green Book: Current Economic Trends
-Policy Issues
-Economic News Briefing
-Statistical Appendices
-The Green Book: Current Economic Trends
-Policy Issues
-Economic News Briefing
-Statistical Appendices

More info:

Published by: Republic of Korea (Korea.net) on Aug 24, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

09/15/2011

pdf

text

original

12.1 Housing market

The upward trend of nationwide apartment sales prices decelerated in July, with prices rising
0.6 percent month-on-month.

Apartment sales prices in the Seoul metropolitan area continued to show a horizontal price
movement, falling 0.1 percent from the previous month.

Apartment sales prices in areas excluding the Seoul metropolitan area showed a persistent
upward trend, led by Daejeon (up 2.3%, m-o-m), North Chungcheong Province (up 2.2%, m-
o-m)
and Gangwon Province (up 1.8%, m-o-m). Apartment prices in 5 metropolitan cities and
other cities climbed 1.4 percent and 1.2 percent each, surpassing the national average.

Nationwide apartment rental prices in July were up 1.0 percent, accelerating the upward pace
from the previous month’s 0.8 percent. Price increases picked up the pace in Seoul (up 1.1%, m-
o-m)
, the Seoul metropolitan area (up 0.9%, m-o-m)and Gyeonggi Province (up 1.0%, m-o-m).

Apartment rental price increases in major districts in Seoul(m-o-m, %)

Gangnam (2.3), Seocho (1.2), Songpa (1.0), Gangdong (2.4)

Apartment sales transactions in June decreased 2.5 percent from the previous month’s
48,077 to 46,885. The transactions were up 54.0 percent from 30,454 a year earlier.

(Percentage change from previous period)

AnnualAnnualAnnualAnnualJanFebMarAprMayJunJulJul 41

Jul 111

Jul 181

Jul 251

Nationwide

1.9

0.8

4.5

8.81.12.02.31.6

1.1

0.8

1.00.270.290.290.29

Seoul

2.2

-1.8

8.1

7.41.12.11.80.7

0.3

0.5

1.10.330.350.330.36

Gangnam2

0.5

-3.610.4

8.81.31.91.40.6

0.3

0.6

1.20.310.320.340.43

Gangbuk3

4.6

0.5

5.4

5.61.02.42.30.8

0.4

0.2

1.00.350.390.320.28

Seoul metropolitan area

2.1

-0.4

5.6

7.21.02.12.41.2

0.5

0.5

0.90.280.280.280.31

5 metropolitan cities

1.1

1.6

3.912.01.32.12.22.2

1.9

1.3

1.00.230.260.310.27

1. Weekly trends2. Upscale area of Southern Seoul3. Northern SeoulSource: Kookmin Bank

2007200820092010

2011

Nationwide apartment rental prices

Source: Korea Land & Housing Corporation

(Monthly average, thousand)

Apartment sales transactions

AnnualAnnualAnnualAnnualJunJulAugSepOctNovDecJanFebMarAprMayJun

Nationwide

38

39

44

40

30

32

31

34

41

54

63

45

52

59

56

48

47

200720082009

2010

2011

(Percentage change from previous period)

AnnualAnnualAnnualAnnualJanFebMarAprMayJun

JulJul 41

Jul 111

Jul 181

Jul 251

Nationwide

2.1

2.3

1.6

2.5

0.61.1

1.31.2

1.00.70.60.130.140.160.14

Seoul

3.6

3.2

2.6

-2.20.20.3

0.10.0-0.1-0.1-0.2-0.03-0.04-0.05-0.03

Gangnam2

0.5-1.9

3.9

-1.80.20.4

0.20.0-0.1-0.2-0.2-0.04-0.06-0.05-0.03

Gangbuk3

8.3

9.4

0.9

-2.70.10.2

0.10.0

0.0-0.1-0.1-0.02-0.02-0.05-0.03

Seoul metropolitan area

4.0

2.9

0.7

-2.90.10.3

0.30.1

0.0-0.1-0.1-0.02-0.03-0.03-0.01

5 metropolitan cities

-0.6

1.0

2.8

8.7

1.22.0

2.32.4

2.21.61.40.310.350.340.29

1. Weekly trends2. Upscale area of Southern Seoul3. Northern SeoulSource: Kookmin Bank

2007200820092010

2011

Nationwide apartment sales prices

Economic Bulletin 37

Apartment prices by region

Source: Kookmin Bank (national housing price trend)

Weekly apartment sales prices and monthly transaction volume

Source: Kookmin Bank (weekly APT price trend) & Korea Land Corporation (monthly land trade trend)

Real estate prices

Source: Kookmin Bank (national housing price trend)

12-1

12-2

12-3

38August 2011

12.2 Land market

Nationwide land prices in June rose for the eighth consecutive month (up 0.10%, m-o-m), but

were still 1.63 percent lower than the pre-crisis peak reached in October 2008. Land prices

were 0.10 percent lower compared with the previous year, but the pace of increase has

slightly accelerated nationwide.

Month-on-month land prices in Seoul (up 0.07%), the Seoul metropolitan area (up 0.10%),

Gyeonggi Province (up 0.14%)and Incheon (up 0.06%)continued to rise.

Land price increases in Seoul metropolitan area(m-o-m, %)

0.10 (Jan 2011) 0.10 (Feb) 0.12 (Mar) 0.11 (Apr) 0.10 (May) 0.10 (Jun)

Land prices in areas excluding the Seoul metropolitan area rose 0.09 percent month-on-

month in June, continuing the upward trend from October 2010.

Land price increases in areas excluding Seoul metropolitan area(m-o-m, %)

0.07 (Jan 2011) 0.07 (Feb) 0.08 (Mar) 0.07 (Apr) 0.09 (May) 0.09 (Jun)

Nationwide land transactions in June recorded 207,000 land lots, down 1.9 percent from the

previous month and up 13.2 percent from 183,000 a year earlier. Land transactions were 0.8

percent lower than the most recent five-year June average of 209,000 land lots.

Month-on-month land transactions continued to decrease in areas such as Incheon (down

19.8%), Ulsan (down 17.9%), Gyeonggi Province (down 5.3%), and South Chungcheong

(down 8.6%).

(Percentage change from previous period)

Land prices by region

AnnualAnnualAnnualQ2

Q3

Q4AnnualQ1

Q2

Q3

Q4JanFebMarAprMayJun

Nationwide

3.88-0.310.960.350.880.941.050.700.29-0.050.110.090.090.110.100.100.10

Seoul

5.88-1.001.400.681.300.810.530.720.02-0.250.390.120.120.150.120.090.07

Gyeonggi

4.22-0.261.220.371.131.361.490.960.53-0.080.070.080.080.100.110.120.14

Incheon

4.861.371.990.531.161.701.431.080.43-0.100.020.060.060.060.060.060.06

20072008

2009

2010

2011

Source: Korea Land & Housing Corporation

(Land lot, thousand)

Land sales transactions

Annual1

Annual1

Annual1

OctNovDecAnnual1

JunOctNovDecJanFebMarAprMayJun

Nationwide

208

208203212207241187183181208257191176244226212207

Seoul

33

26

22

25

19

21

16 13

14

18

24

18

17

23

19

18

18

Gyeonggi

49

45

46

52

48

58

41

42

40

45

58

46

38

52

46

43

40

Incheon

13

13

10

14

11

12

8

8

8

9

11

8

9

13

11 13

10

20072008

2009

2010

2011

Source: Korea Land & Housing Corporation
1. Monthly average

Economic Bulletin 39

Land trade volume

Source: Korea Land Corporation (land trade trend)

12-4

12-5

12-6

Land and consumer prices since 1970s

Source: Korea Land Corporation (land prices) & Statistics Korea (consumer prices)

Land prices by region

Source: Korea Land Corporation (land price trend)

40August 2011

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->