National apartment transaction price index falls for first time in seven months due to slump in trading

In November last year, the actual transaction price index of apartments across the country turned downward for the first time in seven months due to the slump in the real estate market due to loan regulations.

The Korea Real Estate Agency said the nationwide apartment transaction price index fell 0.37 percent in November last year.

After falling 0.03% in April last year, it has been on the rise. It has turned downward for the first time in seven months, meaning November trading prices have often sold for lower amounts than previous trading prices.

By region, the actual transaction price index of apartments in Seoul rose 0.16%, but Gyeonggi Province and Incheon fell 0.54% and 0.64%, respectively, and provinces also fell 0.43%, turning downward for the first time in six months.

Of the five metropolitan cities and eight provinces in the province, all 11 fell except Daegu and Sejong.The fall in the

index is likely to have continued in December, and the provisional index of apartment transactions in December last year was expected to show many falling transactions, with Seoul falling 0.51% and the nation falling 0.54%.