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The price of apartments in the top 20% is ‘five times’ that of the bottom 20%… ‘House price gap’ has grown for 10 consecutive months

An apartment complex is visible from the Seoul Sky Observatory in Songpa-gu, Seoul on the 25th, when the apartment subscription system was drastically revised. 2024.3.25/News 1

In the Seoul apartment market, where apartment prices are continuing to decline due to the real estate recession, the price gap between the top 20% and the bottom 20% has been found to have widened.

According to KB Real Estate’s monthly housing price trend on the 3rd, the ‘quintile multiplier’, an indicator of house price polarization, recorded ‘4.958 times’ in March.

The quintile multiplier is the average price of apartments in the top 20% divided by the average price of the bottom 20%. The higher the multiplier, the more severe the degree of polarization.

The quintile multiplier has been on the rise for 10 consecutive months since recording 4.638x in May last year. In particular, last month’s figure is the highest since September 2018, when it was 5.011 times. If this trend continues, the gap could increase by more than five times again.

Previously, although the exclusive area of ​​245.2㎡ of Hyundai’s 6th and 7th apartments in Gangnam, Seoul was a direct transaction, it was traded for 11.5 billion won on the 27th of last month, rewriting the ‘highest price’ of all time, and the trend of reported prices continues due to expectations of reconstruction in the Gangnam area, centering around the Han River. It’s in progress.

On the other hand, the average sale price of apartments in Seoul has been falling for four consecutive months. In November of last year, it surpassed 1.2 billion won again for the first time in 8 months, recording 1.239 billion won, but since then it has increased to △1.19966 billion won in December △1.197.62 billion won in January △1.196.62 billion won in February △March 11 It recorded 95.68 million won.

The median sale price of apartments in Seoul also recorded 958.33 million won in November last year, followed by △956.67 million won in December, △956.67 million won in January, △955 million won in February, △953.33 million won in March, etc. A downward trend is being recorded.

Experts predicted that even during the real estate ice age, demand in major yolk areas would remain the same and polarization could worsen.

Lee Eun-hyeong, a researcher at the Korea Construction Policy Institute, said, “There is no replacement for Gangnam along the Han River, so the future value will also increase mainly in this area. Even if we assume that the price of a good location will not rise further, the phenomenon of polarization will also occur, with the price of a low location falling.” “It will continue,” he said.

(Seoul = News 1)

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