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Writer Kim Eunji
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Subject After Gangnam-gu, Mapo-gu, 90 weeks, Gangdong-gu, 59 weeks, the price of jeonse dropped.

Following Gangnam-gu, Seoul, apartment lease prices in Mapo-gu and Gangdong-gu stopped rising and turned downward. The price of the lease seems to have fallen due to the short-term increase in the price of the lease and the addition of new apartments in the off-season.

According to data from the Korea Real Estate Agency on the 1st, weekly apartment lease prices in Seoul rose 0.03% in the fifth week of March (as of the 29th), down from last week (0.04%). The lease price of apartments in Seoul has been decreasing to 0.13% in January, 0.07% in February, and 0.04% in March after the weekly increase rate of 0.14~0.15% in November~December last year.

Mapo-gu fell 0.01% this week from 0.00% last week, and turned to a decline in 90 weeks after the second week (-0.09%) in July last year. As Mapo Prestige Zai (1649 households), which reconstructed the Yeomni 3 district in Yeomni-dong, started moving in last month, the supply of lease has increased.

Gangdong-gu also posted a negative increase rate of -0.02% this week from 0.00% last week, the first time in 59 weeks since the second week (-0.02%) in February last year. In Gangdong-gu, 3,713 households including Godeok River 8 (946 households) and 14 (943 households) moved in at the same time, starting with Godeok Jai (1824 households) in Sangil-dong in February.

Gangnam-gu, where the lease price fell last week for the first time in 45 weeks, continued its downward trend this week at -0.02 percent.

Out of 25 districts in Seoul, 22 of them except Eunpyeong-gu (0.05% → 0.06%) and Jongno-gu (0.00% → 0.02%) and Songpa-gu (-0.01% → 0.00%) showed a lower or the same increase rate than last week.



Apartment prices in Seoul edged down from 0.06 percent last week to 0.05 percent this week. However, housing prices rose in Gangnam-gu (0.08%) and Seocho-gu (0.07%), Yangcheon-gu (0.09%), and Nowon-gu (0.08%) ahead of the Seoul mayoral by-election.

An official from the Korea Real Estate Agency said, "The rise in high official prices is slowing down due to concerns over tax burden due to the increase in official prices."