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Recent data from Seoul’s real estate market highlights a stark contrast between the 'Ma-Yong-Seong' (Mapo, Yongsan, and Seongdong) and 'No-Do-Gang' (Nowon, Dobong, and Gangbuk) areas, with a noticeable polarization in housing inventory. Recent data from Seoul’s real estate market highlights a stark contrast between the 'Ma-Yong-Seong' (Mapo, Yongsan, and Seongdong) and 'No-Do-Gang' (Nowon, Dobong, and Gangbuk) areas, with a noticeable polarization in housing inventory. The trend shows a decrease in available properties in some areas while others experience a surge. According to data from the big data platform Asil on September 4th, the total number of apartment listings in Seoul has decreased over the past three months. As of September 3rd, the number of available apartments in Seoul was recorded at 80,844, which represents a 1.9% decrease from three months prior. In contrast, the 'No-Do-Gang' region has seen an increase in listings. Specifically...

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...

As apartment prices in Seoul continue to rise, there has been a notable increase in the number of non-residents buying apartments in the city As apartment prices in Seoul continue to rise, there has been a notable increase in the number of non-residents buying apartments in the city. This article explores the recent surge in Seoul apartment purchases by non-residents, the factors driving this trend, and its potential implications. Recent data indicates a significant increase in the number of non-residents purchasing apartments in Seoul, driven by the ongoing rise in property prices. According to Korea Real Estate Board, the number of apartment transactions in Seoul reached 6,150 in June, marking an 18.6% increase from the previous month. Among these transactions, 1,396 were made by buyers residing outside of Seoul, representing a 31.3% increase compared to the previous month. This figure is the highest since December 2020, when 1,831 transactions were recorded. The trend of non-residen...