Seoul apartment prices have risen for 64 consecutive weeks since the Lee Jae-myung administration took office, as housing supply measures have yet to produce a visible market effect. The government pledged more than 1.35 million homes in the Seoul metropolitan area over five years, added 230,000 units and introduced four rounds of measures covering idle public land, public-office redevelopment, purchase-lease programs and deregulation of non-apartment housing. Yet capital-region groundbreaking through July remained below 30% of the annual target. Seoul’s expected apartment move-ins next year, excluding rental units, are 13,019, down 24.35% from this year and the lowest since records began in 1990. The government plans to concentrate project-finance support next year, while tax changes, eased construction rules and new financing programs are intended to increase listings and non-apartment supply. The recovery will depend heavily on whether private developers, which have historically produced about 80% of metropolitan starts, can convert approved projects into construction.