Seoul's apartment market is shifting away from ultra-luxury trophy homes toward complexes priced below 1 billion won, which are increasingly driving transaction activity and price gains. The shift is being led by end-users prioritizing livability and resale liquidity as loan restrictions and borrowing costs make premium districts harder to access. The average Seoul apartment transaction price was 903.59 million won as of the previous day, according to the Seoul Real Estate Information Plaza on the 16th, down more than 200 million won from 1.11069 billion won last month. The average peaked at 1.48308 billion won in February 2025. At the same time, Seoul apartment prices have risen for 86 consecutive weeks, with a cumulative gain of 17.16%, indicating that lower-priced properties now account for a larger share of transactions. July activity increased in outer districts including Nowon-gu, Guro-gu and Dobong-gu, while premium districts such as Songpa-gu, Gangnam-gu and Seongdong-gu recorded sharp declines. Mortgage rules have reinforced the rotation: properties priced at 1.5 billion won or less retain a 600 million won loan limit, while higher-priced homes face lower caps. Analysts describe the trend as a structural shift toward demand aligned with household income and repayment capacity, with sub-1 billion won outer-district homes expected to continue supporting Seoul's price appreciation while ultra-luxury transactions remain subdued.