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Seoul's apartment prices have recently surged to their highest level in almost six years, Seoul's apartment prices have recently surged to their highest level in almost six years, continuing a 21-week streak of increases. Despite the government's large-scale housing supply measures, prices in key areas such as the Gangnam 3 districts (Gangnam, Seocho, and Songpa) and the 'Mayongseong' districts (Mapo, Yongsan, and Seongdong) have led this upward trend. In this article, we explore the current state of Seoul's apartment market, the factors driving this price increase, and the contrasting trends between the Seoul metropolitan area and other regions. Seoul's apartment market is once again in the spotlight. According to the Korea Real Estate Board's 'Weekly Apartment Price Trends for the Second Week of August (as of the 12th),' apartment prices in Seoul rose by 0.32% compared to the previous week. This marks the 21st consecutive week of price increase...

Seoul Apartment Recently, Seoul's apartment market has experienced a simultaneous increase in both transaction volume and prices. This trend extends beyond traditional hotspots like Gangnam, Seocho, and Songpa, affecting areas such as Seongbuk and Seodaemun as well. However, the nature of this rise appears different from past surges. In this post, we'll explore the current state of Seoul's apartment market, how it differs from previous periods, and why these changes are happening. 1. Current State of Seoul's Apartment Market According to the Seoul Real Estate Information Plaza, the average transaction price of apartments in Seoul exceeded 1.2 billion KRW for the first time last month. This figure is higher than the peak prices seen in late 2021 to early 2022. Additionally, the number of transactions has significantly increased, with 6,936 apartment sales recorded last month—the highest since December 2020. 2. Price Increases in Diverse Areas While previous price hikes ...