Seoul Apartment Prices Rise 0.18%... Stable Trend Continues

Korea Real Estate Board Releases Weekly Apartment Price Trends

Last week, apartment sale prices in Seoul rose by 0.18% compared to the previous week. After the 10·15 Real Estate Measures temporarily curbed the upward trend, prices have remained steady this month.

According to weekly apartment price trend data for the fourth week of November (as of November 24), released by the Korea Real Estate Board on November 27, Seoul's rate of increase slightly decreased from the previous week's 0.20%. Previously, on October 20, the rate had surged to 0.50%, but the upward momentum was halted by the new measures. This month, the rate has hovered at 0.19% (November 3), 0.17% (November 10), and 0.20% (November 17), indicating a stable trend. Despite the implementation of stringent demand-suppression policies, such as uniformly capping loan amounts, prices have not declined but instead have maintained a steady pace of increase.

Districts such as Yongsan (0.34%), Yangcheon (0.25%), Yeongdeungpo (0.29%), Dongjak (0.35%), and Songpa (0.39%) continue to record relatively high rates of increase. However, compared to the previous week, the rate of increase has either slowed or rebounded only slightly. Nearby regulated areas such as Gwacheon (0.32%), Bundang in Seongnam (0.44%), and Gwangmyeong (0.31%) are experiencing similar trends. Uiwang rose by 0.31%, Suji District in Yongin by 0.41%, and Guri by 0.31%, with the rate of increase accelerating since mid-month.

Seoul city real estate agency monthly rent and lease listings bulletin board. Yonhap News

The Korea Real Estate Board explained, "Overall, as market participants remain cautious and transactions are not active, price increases in Seoul have been driven mainly by preferred complexes, such as major reconstruction sites and large-scale or station-area complexes."

The rate of increase in Incheon was 0.02% and in Gyeonggi Province 0.08%, both lower than the previous week. For the greater Seoul metropolitan area as a whole, the rate of increase was 0.10%, a slight decrease from 0.13% the week before.

The rate of increase in Seoul apartment jeonse (long-term deposit lease) prices was 0.14%, similar to the previous week's 0.15%. Since the 10·15 Measures, Seoul's jeonse price growth has remained within the 0.13% to 0.15% range. The overall jeonse price growth rate for the metropolitan area was 0.12%, maintaining a similar level for about the past month.

This content was produced with the assistance of AI translation services.