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12. Real estate market.

12.1 Housing market

Housing prices nationwide rose 0.11 percent month-on-month in December. Prices rose 0.25 percent in the Seoul metropolitan area which includes Seoul (up 0.59%), Gyeonggi Province (up 0.06%) and Incheon (up 0.02%). Housing prices were down 0.01 percent in the five metropolitan cities (up 0.05%) and the eight provinces (down 0.05%).

Housing price increases in five metropolitan cities (m-o-m, %) Busan (0.00), Daegu (0.21), Gwangju (0.05), Daejeon (0.10), Ulsan (-0.20)
(Percentage change from previous period)


                         2013    2014    2015            2016
                         Annual  Annual  Annual  Annual  Dec

Nationwide                0.3    1.7     3.5     0.7     0.07
Seoul metropolitan area  -1.1    1.5     4.4     1.3     0.07
- Seoul                  -1.4    1.1     4.6     2.1     0.09
. Gangnam (1)            -1.1    1.2     5.2     2.5     0.05
. Gangbuk (2)            -1.7    1.1     3.9     1.8     0.14
Areas excluding the       1.7    1.9     2.7     0.2     0.06
Seoul metropolitan area

                                       2017
                         Annual  Aug   Sep   Oct   Nov    Dec

Nationwide               1.5     0.25  0.12  0.13  0.13   0.11
Seoul metropolitan area  2.4     0.39  0.16  0.20  0.25   0.25
- Seoul                  3.6     0.45  0.07  0.23  0.36   0.59
. Gangnam (1)            4.4     0.56  0.02  0.29  0.45   0.82
. Gangbuk (2)            2.9     0.34  0.12  0.18  0.27   0.36
Areas excluding the      0.7     0.12  0.10  0.07  0.02  -0.01
Seoul metropolitan area

(1.) Upscale area of Southern Seoul (2.) Northern Seoul
Source: Korea Appraisal Board


Housing rental prices nationwide fell 0.03 percent month-on-month.

Rental prices declined 0.01 percent in the Seoul metropolitan area and 0.05 percent in areas excluding the Seoul metropolitan area.

Housing rental price increases in major districts in Seoul metropolitan area (m-o-m, %) Gangnam (0.45), Songpa (0.48), Seocho (-0.04), Gangdong (-0.18), Sungdong (0.50)
(Percentage change from previous period)

                         2013    2014    2015            2016
                         Annual  Annual  Annual  Annual  Dec

Nationwide               4.7     3.4     4.8     1.3     0.08
Seoul metropolitan area  6.2     4.7     7.1     2.0     0.09
- Seoul                  6.6     3.6     7.2     2.0     0.12
. Gangnam (1)            6.7     3.3     7.9     1.8     0.10
. Gangbuk (2)            6.4     3.8     6.5     2.1     0.13
Areas excluding the      3.3     2.2     2.8     0.7     0.07
Seoul metropolitan area

                                        2017
                         Annual  Aug    Sep   Oct   Nov    Dec

Nationwide                0.6     0.08  0.06  0.06   0.05  -0.03
Seoul metropolitan area   1.4     0.18  0.13  0.12   0.13  -0.01
- Seoul                   2.0     0.20  0.13  0.14   0.21   0.17
. Gangnam (1)             2.6     0.30  0.13  0.16   0.28   0.21
. Gangbuk (2)             1.5     0.09  0.13  0.12   0.14   0.13
Areas excluding the      -0.1    -0.02  0.00  0.00  -0.03  -0.05
Seoul metropolitan area

(1.) Upscale area of Southern Seoul
(2.) Northern Seoul
Source: Korea Appraisal Board


There were 75,148 housing transactions in November, up 18.9 percent from a month earlier (63,210) and down 27.0 percent from a year ago (102,888).
(Thousands)

            2015                    2016
            Annual (1)  Annual (1)  Nov  Dec  Jan  Feb  Mar  Apr  May
Nationwide  99          88          103  89   59   63   77   75   85

            2017
            Jun  Jul  Aug  Sep  Nov  Dec
Nationwide  98   98   97   84   63   75

(1.) Monthly average
Source: Ministry of Land, Infrastructure and Transport


12.2 Land market

Land prices nationwide rose 0.32 percent month-on-month in November.

Land prices rose 0.31 percent in the Seoul metropolitan area which includes Seoul (up 0.33%) and Gyeonggi Province (up 0.30%).

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

0.32 (Apr 2017) [right arrow] 0.41 (May) [right arrow] 0.40 (Jun) [right arrow] 0.39 (Jul) [right arrow] 0.34 (Aug) [right arrow] 0.30 (Sep) [right arrow] 0.27 (Oct) [right arrow] 0.31 (Nov)

Land prices rose 0.34 percent in areas excluding the Seoul metropolitan area, led by Busan (up 0.55%), Daegu (up 0.41%), Sejong (up 0.59%) and Jeju (up 0.45%).

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

0.31 (Apr 2017) [right arrow] 0.34 (May) [right arrow] 0.38 (Jun) [right arrow] 0.38 (Jul) [right arrow] 0.37 (Aug) [right arrow] 0.36 (Sep) [right arrow] 0.31 (Oct) [right arrow] 0.34 (Nov)
(Percentage change from previous period)


            2013    2014    2015        2016                    2017
            Annual  Annual  Annual  Annual  Q3    Q4    Annual  Q1

Nationwide  1.14    1.96    2.40    2.70    0.72  0.71  3.55    0.74
Seoul       1.21    2.66    2.69    2.97    0.83  0.78  3.96    0.75
Gyeonggi    0.91    1.24    1.73    2.23    0.64  0.63  3.15    0.68
Incheon     0.87    1.35    1.95    1.74    0.47  0.44  2.85    0.67


                  2017
            Q2    Q3    Oct   Nov

Nationwide  1.10  1.06  0.29  0.32
Seoul       1.34  1.20  0.28  0.33
Gyeonggi    1.00  0.87  0.26  0.30
Incheon     0.77  0.90  0.25  0.22

Source: Korea Appraisal Board


There were 294,000 land transactions in November, up 23.7 percent from the previous month and up 7.3 percent from a year ago (274,000).

Land transaction increases (m-o-m, %) Seoul (25.4), Busan (39.8), Ulsan (40.4) Sejong (60.2), North Jeolla Province (50.9)

Vacant land transactions increased 35.6 percent from the previous month to 103,000, accounting for 35.0 percent of the total land transactions. The index rose 9.3 percent compared with a year ago (94,000).
Land transactions                                (Land lots, thousands)


            2015        2016                       2017
            Annual (1)  Annual (1)  Nov  Dec  Jan  Feb  Mar  Apr  May

Nationwide  257         250         274  276  216  226  273  258  280
Seoul        30          31          33   32   24   26   29   30   35
Gyeonggi     58          63          72   74   53   52   66   64   70
Incheon      12          13          15   12   10    9   14   13   16


            Jun  Jul  Aug  Sep  Oct  Nov

Nationwide  301  312  327  293  238  294
Seoul        41   40   45   31   23   29
Gyeonggi     79   91   93   86   74   85
Incheon      17   18   21   20   16   17

(1.) Monthly average
Source: Korea Land & Housing Corporation
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Publication:Economic Bulletin (Korea)
Article Type:Statistical data
Geographic Code:9SOUT
Date:Jan 1, 2018
Words:1094
Previous Article:11. Prices.
Next Article:13. Composite indices of business cycle indicators.
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