Seoul Apartment Market Booms! Property Prices Surge in 'NoDoGang' Areas
The Seoul apartment market is currently experiencing a surge in activity, with both transaction volumes and prices rising sharply The Seoul apartment market is currently experiencing a surge in activity, with both transaction volumes and prices rising sharply. The heating up of property prices, which began in Seoul’s Gangnam area, has now spread to the 'NoDoGang' region (Nowon, Dobong, and Gangbuk districts). This post explores the latest trends in Seoul’s apartment market, the changes in 'NoDoGang,' and future outlooks. The Seoul apartment market has reignited with vigor. In July 2024, apartment transactions in Seoul totaled 7,945, approaching 8,000 transactions. This represents the highest transaction volume in four years since July 2020. The increase in Seoul’s apartment prices has been steep, with some areas experiencing price hikes to the extent where people are saying, “I woke up and the house prices had risen.” According to a real estate agency in Sangye-dong, No...