The devastated real estate market over the past year—it would have been better if they'd just left it alone

The average sales price of apartments in Seoul has risen sharply to 1.5 billion KRW

Since it was 1.275 billion KRW until January of last year, it has risen by about 18% over 16 months

"Only the expensive areas are expensive lol," "It's just the trap of the average..."

Since people will probably say, "There are plenty of small and cheap places in Seoul," here is the average price for small apartments = 1.092 billion KRW

A 32% increase in just one year

If you look at the entire period, you can see how severe the rate of increase is...

"Why are you trying to buy a house? Just live in a monthly rental or a Jeonse (lump-sum deposit) rental"—here is that old repertoire

Trend of average monthly rental prices for apartments in Seoul

Currently averaging 1.5 million KRW. A 12% increase compared to January of last year

To be honest, monthly rents haven't historically risen this quickly

The price fluctuation of Jeonse—which "should disappear" and is indeed disappearing...

Since the Nowon-Dobong-Gangbuk (No-Do-Gang) area was hit directly along with all of Seoul, it appears frequently in the news

"Why do you only want to live in Seoul? Go live in Gyeonggi-do!! Gyeonggi-do is great too!!"

-> Which is why many people actually moved to Gyeonggi-do, and prices there are rising too...

It's already like this, so if they tell me to commute from as far as Chungcheong-do, I'm done

"Isn't it a good thing if house prices go up?" -> Ta-da! That's why we have holding taxes!

"How many people even live in rentals?" -> The homeownership rate in Seoul is in the 40% range

I hear there's talk of additional regulations coming in July, so who knows how things will change...

We already know how this goes

Source: https://theqoo.net/hot/4229872627