Seoul Apartment Transactions Rebound... Non-Gangnam Districts Lead the Surge

End-users Rush In as Prices Hold Despite Regulations
Transactions Halved in Gangnam 3 Districts and Yongsan District

The number of apartment sales transactions in Seoul, which had declined following the October 15 Measures last year, rebounded in December.

According to the Seoul apartment transaction data reported in the Ministry of Land, Infrastructure and Transport's real transaction price system as of January 10, the total number of transactions in December 2025 was 3,584 (excluding purchases and cancellations by public institutions), surpassing the 3,335 transactions recorded in November.

The reporting deadline for December contracts is at the end of this month, leaving about 20 days remaining. Nevertheless, the number of transactions in December already exceeds that of November by more than 200.

After the October 15 Measures, the entire city of Seoul was designated as a regulated area and a land transaction permit zone, causing the number of reported sales to plummet from 8,485 in September and 8,456 in October to 3,335 in November. However, with the rebound in December, there are now expectations that monthly transactions could return to the 6,000 range.

Despite the government's lending regulations, housing prices did not fall, leading to increased demand from buyers hoping to purchase before prices rise further. Additionally, the expansion of land transaction permit zones led to a time lag, as buyers and sellers now require at least 15 to 20 days to obtain local government approval and finalize contracts, and more than 30 to 40 days to report the transaction. As a result, even if a transaction agreement was reached in November, the actual contract was often completed in December.

The increase was particularly notable in non-Gangnam areas. In the 21 districts outside of the existing permit zones-Gangnam 3 Districts, Yongsan District, and Eunpyeong District in Gangbuk-the December transaction volume exceeded that of November in all districts except Eunpyeong District.

Nowon District saw 393 transactions reported in December, an increase of about 71% from the previous month. Other districts such as Gangdong (161 transactions), Guro (238 transactions), Dongjak (112 transactions), Yeongdeungpo (169 transactions), and Gwanak (140 transactions) also experienced significant increases compared to November.

In contrast, the Gangnam 3 Districts and Yongsan District, which are subject to 'triple regulation,' saw fewer transactions in December than in November. Gangnam District and Seocho District reported 127 and 82 transactions in December, respectively, less than half of the 264 and 219 contracts in November. Songpa District also recorded only 229 transactions in December so far, about half of the previous month's total.

According to the Korea Real Estate Board, the apartment sales supply-demand index for the southeastern region, which includes the Gangnam 3 Districts, fell to 102.6 last week from 103.1 the previous week. In contrast, the northern region of Seoul recorded 102.0, the highest level since the third week of October last year (104.8).