Seoul Apartment Prices: How Long Will the Rise Last? 87-Week Streak Is Longest on Record

[Financial News] Seoul apartment sales prices rose for the 87th consecutive week, extending their longest-ever streak of increases. Although some areas in the Gangnam region fell, strength in outlying areas stood out, widening Seoul’s overall increase again.
According to the Korea Real Estate Board on the 8th, Seoul apartment sales prices rose 0.12% in the first week of October (as of the 5th) from the previous week. After slowing since August, the pace of increase picked up again this week.
By district, Seodaemun District recorded the highest increase among Seoul’s 25 districts, rising 0.36%. Gangbuk District followed at 0.35%, then Geumcheon-gu at 0.34%, Gwanak-gu at 0.33% and Dobong-gu at 0.32%.
Trends varied across the Gangnam region. Gangnam District rose 0.34%, while Seocho District fell 0.33%. Songpa District and Yongsan District also declined 0.19% and 0.01%, respectively.
The Korea Real Estate Board said that although contracts at lower prices were signed in some areas, demand remained solid, particularly for large apartment complexes with good residential conditions and apartments near stations.
Over the same period, apartment sales prices nationwide rose 0.07%. The Seoul metropolitan area increased 0.14%, Gyeonggi Province 0.18% and Incheon 0.02%. Compared with the previous week, the increases widened slightly nationwide, in the Seoul metropolitan area and in Gyeonggi Province, excluding Incheon.
Among cities, counties and districts nationwide, Yeongtong-gu, Suwon, recorded the highest increase at 0.62%. This is thought to reflect liquidity released into the market through Samsung Electronics’ employee loans.
Next came Bundang-gu, Seongnam, at 0.56%, Dongan-gu, Anyang, at 0.41%, and Gwangmyeong City at 0.38%. Gwangmyeong City has risen 15.98% so far this year, ranking first nationwide on a cumulative basis.
Nam Hyuk-woo, a real estate researcher at Woori Bank, said, “The impact of liquidity inflows has been limited to Suwon, but we are seeing demand shifts and price strength gradually spread to other popular areas that share the same living sphere or have become more attractive in terms of price. There is also a possibility that this may be attributable to future increases in demand in Seoul and other popular regulated areas of Gyeonggi Province.”
The rise in jeonse prices also continued. This week, apartment jeonse prices rose 0.09% nationwide, with increases of 0.15% in the Seoul metropolitan area, 0.16% in Seoul, 0.14% in Gyeonggi Province and 0.15% in Incheon.
The cumulative increase so far this year was 3.92% for jeonse prices, exceeding the 2.89% rise in sales prices.



[email protected] Choi Ga-young Reporter