Interest in Gangnam 4 Districts Plummets in Winter Off-Season
No Seoul District Sees Over 1% Price Increase
However, Balloon Effect Rises Mainly in Non-Regulated Areas
[Asia Economy Reporter Moon Jiwon] Two months after the announcement of the December 16 real estate measures, the rate of increase in housing sale prices in the Seoul area continues to slow down, leading to an analysis that the market is entering a stabilization phase.
However, in areas such as Nowon and Guro districts in Seoul, which were exempt from regulations, and some parts of Gyeonggi Province, prices are still rising relatively sharply, indicating that side effects remain.
According to the monthly KB Housing Market Trends data released by KB Real Estate Live On on the 25th, housing sale prices in Seoul rose by 0.35% compared to the previous month, a decrease from the previous week's increase of 0.48%.
This is interpreted as being influenced by the winter off-season and reduced interest in listings in the Gangnam 4 districts (Gangnam, Seocho, Songpa, Gangdong) due to the December 16 measures.
No autonomous district showed a price increase of more than 1% this month. However, non-Gangnam areas such as Nowon-gu (0.68%) and Guro-gu (0.68%) showed relatively high growth rates, followed by Yangcheon-gu (0.63%), Yeongdeungpo-gu (0.63%), and Dongjak-gu (0.55%).
Yangcheon-gu saw a significant rise centered on reconstruction complexes such as Mokdong Complex 6, which recently passed safety inspections. Nowon-gu and Guro-gu had fewer high-priced complexes targeted by the December 16 measures, leading to a concentration of buying sentiment among actual demanders.
Housing prices in Gyeonggi Province (0.78%) and Incheon (0.35%) also rose compared to the previous month.
In Gyeonggi, Suwon Yeongtong-gu (3.53%), Suwon Gwonseon-gu (2.72%), Yongin Suji-gu (2.61%), Goyang Deogyang-gu (1.72%), and Suwon Jangan-gu (1.67%) showed relatively high increases, while only Icheon (-0.07%) declined.
Gwonseon-gu saw price increases centered on apartments in Geumgok-dong and Homaesil-dong, benefiting from the announcement of the Shinbundang Line construction in 2023. Yeongtong-gu was influenced by the reconstruction approval of Maetan Jugong Complexes 4 and 5 in Yeongtong 2 District and the confirmed opening of Woncheon Station on the Suwon Line in 2025.
Meanwhile, the metropolitan area (0.55%) also saw a slight increase in the rate of price growth compared to the previous month, as Seoul (0.35%), Gyeonggi (0.78%), and Incheon (0.35%) all experienced price rises. In particular, Sejong (1.44%) saw a significant increase in housing prices. Daejeon (0.84%) also maintained a high increase following last month's (1.39%), showing the highest growth rate among metropolitan cities.
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