Indicators
Seoul’s Apartment Market Cools More Ahead of BOK Rate Decision
- Number of transactions continues to slide along with prices
- Seoul home prices and household debt are key BOK concerns
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Seoul’s housing market showed more signs of cooling last month, with apartment prices and transactions continuing to slide, creating more favorable conditions for the Bank of Korea to consider a policy pivot next week.
The number of trades dropped to 1,501 in September from 6,087 in August, marking the second month of declines, according to preliminary data seen Tuesday on the website of the Seoul city office. The average sales price also slipped to 1.09 billion won ($832,000) per unit from 1.19 billion won a month earlier in a third consecutive decline, the data showed.