Apartment sale prices in 10 Seoul districts rose 11.15% over the past year, while Jeonse (large-deposit rental contracts) prices climbed 10.10%, according to an analysis of Korea Real Estate Board data by Chosun Ilbo. The districts, which contain many mid- to low-priced apartment complexes, recorded their first simultaneous double-digit annual increases since the board began publishing district-specific statistics in January 2012. The increase was nearly twice the rates recorded in Gangnam-gu and Seocho-gu. President Lee Jae Myung described the movement as a modest form of regional price leveling, but non-homeowners and real estate communities criticized the characterization. Cheong Wa Dae said the remarks explained market trends, acknowledged the increased burden outside Seoul’s three Gangnam districts and attributed the surge to accumulated supply shortages and concentrated demand for homes less affected by tax reforms and loan limits. Experts cited restrictions that reduced Jeonse listings after all of Seoul was designated a land transaction permit zone (area requiring approval for property deals) in October last year. With both rental and purchase routes becoming more expensive, analysts and market participants say non-homeowners have fewer options. The administration pledged to accelerate housing supply and rental policies.