National Land Prices Up 0.59% In Q3...No. 1 Seoul Gangnam Growth Rate

Land prices nationwide rose 0.59% in the third quarter of this year, and Gangnam-gu, Seoul, has the highest land price increase.

According to the Ministry of Land, Infrastructure and Transport's "National Land Price Change Rate and Land Transaction Volume in the Third Quarter," land prices nationwide rose 0.59% in the third quarter of this year, up 0.04% points from the previous quarter.

Compared to the third quarter of last year, the rate of increase was 0.29 percentage points higher, but on a monthly basis, it has risen for 19 consecutive months since the shift to increase in March last year.

Among the 17 cities and provinces nationwide, land prices rose the most in the third quarter with 0.87 percent in Seoul, followed by Gyeonggi, Incheon and Busan.

On the other hand, Jeju's land price alone fell 0.17% and has been on the decline for four consecutive quarters since the fourth quarter of last year.

Among the 250 cities and counties nationwide, land price growth in Gangnam-gu, Seoul, was the highest at 1.45%, followed by Sujeong-gu, Seongnam, Gyeonggi-do, and Cheoin-gu, Yongin.

In the third quarter, land volume was approximately 484,000 lots, up 5.7% from the same period last year.