Seoul Apartment Sale Prices Rise 0.82% in September... Gangnam Average Surpasses 1.8 Billion Won [Real Estate AtoZ]

Apartment Sale Prices Nationwide Rise 0.10% in September
Gyeonggi Apartment Prices Also Up 0.14%
Bundang (1.77%), Gwangmyeong (1.23%), Seongnam Sujeong District (1.14%) Lead Gains
Seoul Sale Price Outlook Index at 116.4, Up 13.8 Points from Previous Month

In September, apartment sale prices in Seoul rose by 0.82%, marking the 16th consecutive month of increases. The average sale price of apartments in Gangnam surpassed 1.8 billion won.

According to KB Real Estate's report on nationwide housing price trends for September (as of the 15th), the nationwide housing sale price change rate increased by 0.08% compared to the previous month (as of August 11). Apartment sale prices rose by 0.10%, widening the increase from the previous month.

On the 27th, apartment prices in Mapo and Seongdong districts of Seoul were announced to have risen the most sharply since related statistics began to be published in 2013. The rise in Seoul apartment prices is expected to continue for the time being due to the expectation that prices will increase further. The photo shows a panoramic view of apartment complexes in downtown Seoul as seen from Namsan, Seoul. 2025.06.27 Photo by Dongju Yoon

Seoul's housing sale prices increased by 0.52%, and apartment sale prices rose by 0.82%, continuing a 16-month upward streak. While the rise in Seoul apartment prices slowed last month (0.60%), the rate of increase expanded again this month.

The apartment sale price change rate in the greater Seoul area was 0.32%. Gyeonggi Province saw an increase of 0.14%, while Incheon remained flat at 0.00%. Among the five major metropolitan cities, only Ulsan (0.22%) saw an increase, while Busan (-0.27%), Daegu (-0.27%), Gwangju (-0.25%), and Daejeon (-0.21%) experienced declines.

In regions outside the metropolitan cities, the housing sale price decreased by 0.01%. However, the rate of decline slightly narrowed compared to the previous month (-0.05%). By region, only Jeonbuk (0.05%) saw an increase, while Gangwon (-0.07%), Chungnam (-0.07%), Gyeongbuk (-0.03%), Gyeongnam (-0.02%), Chungbuk (-0.01%), and Jeonnam (-0.01%) all declined.

Average Gangnam Apartment Sale Price Surpasses 1.8 Billion Won for the First Time Since Statistics Began

The average sale price of apartments in Seoul reached 1,436.21 million won, marking an 18-month streak of increases. The average price in the 14 districts of Gangbuk was 1,022.38 million won, while in the 11 districts of Gangnam, it was 1,806.77 million won. This is the first time since December 2008, when these statistics began, that the Gangnam area has surpassed 1.8 billion won.

The increase in Seoul housing sale prices was greater than last month (0.46%). By property type, apartments rose by 0.82%, detached houses by 0.12%, and row houses by 0.11%. The rate of increase for apartments and row houses expanded slightly from the previous month, while detached houses saw a slight decrease. By district, Songpa (1.11%), Seongdong (1.09%), Gangdong (0.92%), Gangnam (0.86%), Yongsan (0.76%), Seodaemun (0.76%), and Jung (0.76%) saw the highest increases. Jongno, which recorded a negative change last month, turned positive this month (0.09%), resulting in overall increases across Seoul.

Apartment Sale Price Change Rates in Major Seoul Districts in September. Provided by KB Real Estate

For apartment sale prices, Songpa (1.60%), Jung (1.54%), Gangdong (1.53%), Gwangjin (1.52%), Seongdong (1.47%), Yongsan (1.29%), Dongjak (1.23%), Gangnam (1.16%), and Mapo (1.03%) recorded the highest rates of increase. Most of these top-performing districts saw their rates of increase exceed 1%, with the pace accelerating compared to the previous month.

The Seoul sale price outlook index stood at 116.4, up 13.8 points from the previous month (102.6), indicating that expectations for price increases are dominant. The index for the 14 districts of Gangbuk (115.9) and the 11 districts of Gangnam (117.0) rose by 12.4 and 15.2 points, respectively, further strengthening the outlook for rising prices.

Bundang Apartment Sale Price Increase Rate at 1.77%... Highest in the Nation

The housing sale price change rate in Gyeonggi Province rose by 0.11%, a larger increase than the previous month (0.03%). This marks the fifth consecutive month of increases since the market stabilized in April. In Gyeonggi, Seongnam Bundang District (1.63%), Gwangmyeong (1.10%), Suwon Jangan District (1.03%), Anyang Dongan District (0.88%), Gwacheon (0.86%), Yongin Suji District (0.85%), and Seongnam Sujeong District (0.67%) all saw increases. On the other hand, Siheung (-0.48%), Pyeongtaek (-0.45%), Icheon (-0.36%), Bucheon Sosa District (-0.32%), Paju (-0.26%), Bucheon Ojeong District (-0.19%), and Goyang Ilsandong District (-0.17%) experienced declines.

Incheon (0.00%) housing sale prices, after nine months of decline, rebounded slightly this month to remain flat. By district, Michuhol (0.07%), Bupyeong (0.04%), Dong (0.02%), and Yeonsu (0.01%) saw increases, while Namdong (0.00%) was flat. Gyeyang (-0.09%), Jung (-0.06%), and Seo (-0.02%) districts recorded declines.

Apartment Sale and Jeonse Price Change Rates by Region in September 2025. KB Real Estate

The apartment sale price change rate in the greater Seoul area (0.32%) also widened compared to last month (0.19%). Gyeonggi Province (0.14%) saw its fourth consecutive monthly increase. Seongnam Bundang District (1.77%), Gwangmyeong (1.23%), and Seongnam Sujeong District (1.14%) led the gains, further expanding the rate of increase compared to the previous month. In Bundang District, pent-up demand began to move, resulting in a pronounced rise centered on leading new town redevelopment zones and complexes pursuing redevelopment. Incheon (0.00%) remained flat.

The apartment sale price change rate in the five major metropolitan cities was -0.20%. Only Ulsan (0.22%) saw an increase, while Busan (-0.27%), Daegu (-0.27%), Gwangju (-0.25%), and Daejeon (-0.21%) all declined. In other regions (-0.02%), only Jeonbuk (0.07%) saw an increase, while Chungnam (-0.10%), Gangwon (-0.08%), Gyeongbuk (-0.06%), Gyeongnam (-0.03%), Chungbuk (-0.01%), and Jeonnam (-0.01%) experienced declines.

The average apartment sale price in the greater Seoul area was 804.6 million won. After remaining in the 700 million won range since September 2022 (801.75 million won), it has now returned to the 800 million won range. The nationwide average apartment sale price was 540.92 million won.

The sale price outlook index for the greater Seoul area was 104.7, with Gyeonggi Province (101.4) up 5.1 points from the previous month and Incheon (93.4) up 0.3 points. Among the five major metropolitan cities, Ulsan (120.6) had the highest index, followed by Busan (102.1), Daejeon (94.6), Daegu (93.7), and Gwangju (91.3). Only Ulsan and Busan had a higher proportion of respondents expecting price increases.

Jeonse Prices Strong in Gangdong and Songpa Districts, Declining in Seocho District

The nationwide apartment jeonse (long-term lease) price increased by 0.14%, marking the seventh consecutive month of gains. The rate of increase expanded slightly from the previous month (0.07%). Seoul (0.40%), Gyeonggi Province (0.17%), and Incheon (0.06%) all saw larger increases.

Seoul apartment jeonse prices rose by 0.40%, marking the 26th consecutive month of increases. The rate of increase widened from the previous month (0.26%). By district, Gangdong (1.43%), Songpa (1.05%), Gwangjin (0.80%), and Yongsan (0.60%) saw increases. Due to the move-in of large complexes in Jamwon-dong, only Seocho District (-0.15%) continued to decline.

The five major metropolitan cities (0.06%) saw jeonse prices rise for the third consecutive month. Ulsan (0.26%), Busan (0.13%), Gwangju (0.03%), and Daegu (0.02%) recorded increases, while only Daejeon (-0.15%) saw a decline. Other regions (0.08%) shifted to an increase. Gyeongnam (0.12%), Jeonnam (0.10%), Chungbuk (0.07%), Jeonbuk (0.07%), and Chungnam (0.03%) saw increases, while Gangwon (-0.05%) and Gyeongbuk (-0.01%) recorded declines.