Seoul’s apartment market remains split: June’s transaction-based sales price index rose 2.50% month-on-month, its fastest gain since 2021, and lower- and mid-priced homes dominated July deals, while high-end southern districts weakened under the government’s 2026 tax reform proposal. At Apgujeong Shinhyeondae, a 165-square-meter unit listed at 8.59 billion won was cut within three days to 7.6 billion won, and 183-square-meter asking prices settled near 11 billion won, about 250 million won below last month’s 11.25 billion won sale. Asil data show Seoul apartment listings rising 4,398, or 7.2%, to 65,669 between Aug. 2 and Aug. 22, as brokers cite heavier capital gains tax risk from a reduced Long-Term Holding Special Deduction and pinpoint Comprehensive Real Estate Tax on costlier homes. Korea Real Estate Board figures show Seocho-gu and Gangnam-gu falling 0.09% and 0.05% in the third week of August, a second straight weekly decline concentrated in reconstruction-pipeline complexes, while buyers wait for deeper discounts and owners watch the National Assembly process.