Seoul apartment prices match record 85-week winning streak

  • Seoul apartment prices extended their rise to 85 consecutive weeks.
  • Prices rose 0.13% in the week ended Sept. 21, marking a fourth slowdown.
  • Gangnam, Seocho and Songpa posted declines while districts outside Gangnam advanced.

Seoul apartment prices have risen for 85 consecutive weeks, matching the record set from June 2020 to January 2022. Prices increased 0.13% in the week ended Sept. 21, according to the Korea Real Estate Board, although the pace of gains slowed for a fourth straight week from 0.29% in late August to 0.13%. Gains outside the Gangnam area offset declines in Gangnam, Seocho and Songpa, where prices fell 0.42%, 0.37% and 0.14%, respectively. Seodaemun led Seoul’s 25 districts with a 0.44% increase, while Dongdaemun and Seongbuk each rose 0.39%. The latest 85-week advance has totaled 17.47%, compared with 7.71% during the previous record streak. Analysts have linked demand for mid- and low-priced apartments to loan regulations, jeonse pressures and the shift toward monthly rent. Gyeonggi Province apartment prices accelerated to a 0.23% weekly gain, led by Suwon’s Yeongtong District at 1.09%, while Seoul jeonse prices rose 0.19%.

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