Seoul’s apartment market recorded strong annual and monthly gains in July, but weekly price growth slowed in September as regional divergence widened and housing supply tightened. Apartment transaction prices rose 1.93% in July from June and 14.56% from a year earlier, led by the southeastern districts at 2.73% and ultra-small apartments at 3.05%. In the week ending Sept. 14, Seoul apartment prices rose 0.16%, extending the rally to 84 consecutive weeks but slowing from 0.20% for a third straight week. The average Seoul apartment jeonse deposit reached a record 636.63 million won last month, up 0.9% monthly and above the previous record of 634.24 million won in January 2022. August transaction activity weakened, with sales down 46.2% as of Aug. 15, jeonse down 18% and monthly-rent transactions down 20.7%, while jeonse renewals increased to 58.9% of contracts. Actual-residency rules, expanded land transaction permit zones, tax measures for multiple homeowners and a 12.4% annual decline in Seoul jeonse listings continued to constrain supply.