Seoul apartment price gaps narrow as lower-priced areas catch up

  • Zigbang compared apartment transaction prices across Seoul, Gyeonggi and Incheon.
  • Seoul’s median transaction price held at 12.68 million Korean won per square meter.
  • August figures remain subject to change because some transactions await reporting.

Apartment prices across the Seoul metropolitan area showed a regional rebalancing from January to August, rather than uniform convergence. Seoul’s median actual transaction price per square meter remained 12.68 million Korean won, while lower-priced areas such as Seongbuk, Dongdaemun, Jungnang, Gwangmyeong, Suji and Yeonsu narrowed their gaps with Seoul. Some high-priced areas continued to pull further ahead, including Seoul’s Gangnam, Seocho, Songpa and Seongdong districts, as well as Hanam and Bundang. The comparison was conducted by real estate platform Zigbang using apartment sale transaction data from the Ministry of Land, Infrastructure and Transport, though August figures may change as pending transactions are reported. Zigbang said the results reflect diverging regional trends and a rebalancing of relative price positions based on Seoul, not broad-based price convergence across the metropolitan area.

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