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In August 2024, apartment sales in Seoul, particularly high-priced properties, saw a significant decline.  In August 2024, apartment sales in Seoul, particularly high-priced properties, saw a significant decline. Rising prices, combined with the government's tightening of loan regulations, have led some buyers to look beyond Seoul and towards the surrounding regions of Gyeonggi and Incheon. This post will explore the recent changes in Seoul’s real estate market and the growing trend of homebuyers moving to the outskirts. Seoul's apartment market, which had been steadily increasing in sales earlier this year, saw a sharp decline in August, particularly among high-priced properties. Sales of apartments priced over 900 million won hit their peak in July with 5,160 transactions but have since dropped to 3,295 in August and just 598 in September. In January, there were only 1,215 such transactions, highlighting the rapid growth followed by the sudden slowdown. This decrease in sales...

As the housing market heats up in Seoul, especially in prime areas like Gangnam and Mapo, the competition for new apartment subscriptions is fierce.  As the housing market heats up in Seoul, especially in prime areas like Gangnam and Mapo, the competition for new apartment subscriptions is fierce. With rising prices and increasing demand, current homeowners are reevaluating their strategies for upgrading their living situations. This article explores the current landscape of apartment subscriptions in Seoul and highlights the potential benefits of purchasing existing properties, particularly large complexes, as a practical solution. The summer of 2024 has seen a remarkable resurgence in Seoul's housing market, with apartment prices rising and the subscription market becoming increasingly competitive. Notably, in July and August, eight new apartment complexes in Seoul attracted over 230,000 applications for just 1,775 available units, resulting in an average subscription ratio of ap...