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(Seoul=Yonhap Infomax) Jong Hwa Han – The real estate consumer sentiment index in the Greater Seoul area shifted from neutral to an upward trend in October.
The Korea Research Institute for Human Settlements (KRIHS) announced on the 17th that its October survey showed the nationwide real estate market sentiment index at 112.0, with the Greater Seoul area at 115.9 and non-capital regions at 107.2.
While both the nationwide and non-capital region indices rose by 2.9 points (p) and 1.8p respectively, they remained in a neutral phase. The Greater Seoul area, however, climbed 3.7p, moving from neutral to an upward phase.
Seoul maintained its upward momentum, rising 3.1p from 120.3 last month to 123.4.
The real estate market sentiment index is defined as follows: below 95 indicates a bearish phase, 95 to less than 115 is neutral, and 115 or above signals an upward phase.
Regions with the largest increases in real estate market sentiment included Sejong (5.4p), Gyeonggi Province (4.1p), and Jeonnam (3.8p).
Sejong shifted from neutral to an upward phase in October, while Gyeonggi and Jeonnam remained neutral.
Major declining regions were Ulsan (-3.4p), Chungnam (-2.5p), and Jeju (-0.1p). Ulsan maintained an upward phase, while Chungnam and Jeju stayed neutral.
The combined housing market sentiment index for sales and jeonse (long-term lease unique to Korea) stood at 114.9 nationwide, 119.0 in the Greater Seoul area, and 109.9 in non-capital regions.
Compared to the previous month, the indices rose by 3.0p nationwide, 4.2p in the Greater Seoul area, and 1.9p in non-capital regions. The Greater Seoul area shifted from neutral to an upward phase, while the nationwide and non-capital indices remained neutral.
The housing sales market sentiment index rose 3.3p to 120.8 nationwide, and 5.3p to 127.0 in the Greater Seoul area. The non-capital region increased by 1.2p to 113.2.
Except for the non-capital region, which remained neutral, both the nationwide and Greater Seoul indices continued their upward trend.
The largest increases in the housing sales market sentiment index were seen in Incheon (6.6p), Gyeonggi Province (5.7p), and Chungbuk (5.5p).
Seoul recorded the highest housing sales market sentiment index at 137.5, up 4.1p from the previous month.
The housing jeonse market sentiment index remained neutral across the board, at 109.0 nationwide, 110.9 in the Greater Seoul area, and 106.5 in non-capital regions.
jhhan@yna.co.kr
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