Price of Apartments Survey will be Reported Every week

The government will announce the tendency of property market every week for fair trade. At the moment he government announces once a month, and is indicated that the announcement doesn’t reflect real market appropriately.

Kookmin Bank committed for the announcement select 407 samples of price leading apartments and survey price every week and report ▽Seoul ▽Incheon ▽5 cities in Seoul Metropolitan area; Bundang, Ilsan, Pyeongchon, Sanbon and Chungdong ▽6 cities in Gyeonggi-do; Guachun, Suwon, Yongin, Guri, Kimpo and Kwangmyeong ▽4 major cities; Busan, Daegu, Gwangju and Daejeon.

The price leading apartments include ▽frequent fluctuation of the price ▽large population ▽increase in apartment and population recently ▽transactions are active

Kookmin Bank will survey the actual transaction price through 137 real estate agencies nation wide and confirm it through analysis method from national Statistics Office for more reliability.

The subject to the survey will cover 30 cities such as Seoul, 6 major cities, Suwon of Gyeonggi, Chuncheon of Gangwon, Cheongju of Chungbuk, Jeonju of Jeonbuk, Changwon of Gyeongnam, etc. Samples also will be extended to 3,500 by 2,000 apartments, 1,500 units and 1,500 houses. The survey will be reported weekly and monthly after analysis.

Kookmin Bank has reported on housing price monthly since 1986, but the samples are only 3,260.

The new survey method is indicated how it secures reliable information from real estate agencies for accurate analysis.

Another matter is that the results of the survey on ▽ Gangbuk and Gangnam of Seoul ▽ 6 major cities ▽other small and medium cities can’t reflect two extreme real market tendencies. So supplementary analysis method is required.

Jae-Seong Hwang jsonhng@donga.com