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As the mood of the real estate market changes slightly, there is also a forecast that house prices will bottom out and rise. However, as interest rates could rise further as the U.S. tightens, the prevailing view is that house prices will fall further for the foreseeable future.

Reporter Ahn Sang-woo reports.

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Seoul's Yeongdeungpojai Dignity, which had a subscription competition ratio of 200 to 1, and Hill State Pyeongtaek Hwayang, which started selling on the same day, had a first-choice subscription competition ratio of 1.0:05.

I received a subscription application up to the second place, but I fell short in all the acreage.

The benefits of deregulation are concentrated in parts of Seoul, but unsold volumes are accumulating rapidly in the provinces, and polarization is intensifying.

[Kim Jun-hyung/Professor of Real Estate, Myongji University: The low demand for new construction supply is the biggest sign that the market is in a very bad state, and the upward pressure on prices in the market will be greatly reduced.]

Further rate hikes are also a key variable.

With the U.S. central bank signaling further tightening, the likelihood of the Bank of Korea raising its benchmark interest rate next month has also increased.

As a result, the housing affordability index, which already hit an all-time high last year, may rise further, further contracting purchase demand.

The Bank of Korea predicts that house prices will fall further this year, given high interest rates and the still high level of house prices.

[Jinyu Kim/President of the Korea Housing Association: Things that were not traded due to regulations are coming out on the market. It is not a situation where interest rates are going down or unsold are being released, so it is premature to think that they will recover....]

The Seoul Metropolitan Government has decided that real estate prices should fall further than they are now, and is reportedly in internal discussions to weigh in on not releasing the Apgujeong and Mokdong land transaction permit zones in Gangnam, where the designation expires next month.

(Video editing by Kim Ho-jin)