KB Kookmin Bank's monthly housing price survey indicates that the prices of the top 50 luxury apartments have turned downward for the first time in four months. In Seoul, apartment prices in the Gangnam District have weakened, while areas like Nowon, Jungnang, and Dobong have recorded significant increases, highlighting regional disparities.
According to KB Real Estate's "September National Housing Price Trends" report released on the 28th, the average sale price of apartments in Seoul as of September 14 rose by 1.13% compared to the previous month, although the increase was slightly reduced by 0.01 percentage points.
By district, Nowon recorded the highest increase at 2.32%. Other districts such as Jungnang (2.20%), Dobong (1.95%), Seongbuk (1.93%), Gangbuk (1.90%), Gangseo (1.75%), and Guro (1.63%) also exceeded the Seoul average. In contrast, Gangnam saw a decrease of 0.30%, marking a shift to negative growth.
In Gyeonggi Province, apartment sale prices increased by 1.06%, with the growth rate expanding by 0.23 percentage points from the previous month. The southern Gyeonggi region showed strong performance, with increases in Suwon Yeongtong (4.30%), Anyang Dongan (2.75%), Gwangmyeong (2.73%), Hwaseong Byeongjeom (2.71%), and Suwon Paldal (2.51%). Incheon saw a slight increase of 0.07%, while the national average rose by 0.49%.
The luxury apartment market has turned weak. The "KB Leading Apartment 50" index, which tracks price changes of the top 50 apartment complexes, fell by 0.22% to 99.2, marking its first decline in four months since May.
The Leading Apartment 50 index had dropped from March to May due to the impending end of the tax exemption for multiple homeowners, but it rose for three consecutive months starting in June. However, following the announcement of tax reform proposals earlier this month, it has returned to a downward trend.
In the rental market, the increase in Seoul's rental prices has also slowed. The average rent for apartments in Seoul rose by 1.00% compared to the previous month, a decrease of 0.1 percentage points in the growth rate. Significant increases were seen in Nowon (2.04%), Seongbuk (1.93%), Gangbuk (1.84%), Gangdong (1.83%), Jungnang (1.47%), and Songpa (1.40%). Gangnam experienced a decline of 0.19%, mirroring the drop in sale prices.
In Gyeonggi Province, rental prices increased by 0.80%, with Gwangmyeong (1.88%), Hanam (1.75%), Hwaseong Dongtan (1.73%), Hwaseong Byeongjeom (1.67%), and Suwon Jangan (1.43%) showing strong performance. Incheon saw a 0.33% increase, while the national average rose by 0.49%.
Future housing price forecasts show mixed expectations for Seoul and Gyeonggi. The national sale price outlook index rose by 0.5 points to 107.7 compared to the previous month, but in Seoul, it fell by 1.4 points to 116.4, continuing a downward trend for three consecutive months.
Regionally in Seoul, the 14 districts in the northern area recorded a decline to 124.8, down 0.3 points from the previous month, while the 11 districts in the southern area fell to 108.9, down 2.4 points. In contrast, Gyeonggi and Incheon saw increases to 117.6 and 103.7, respectively, up 2.4 points and 0.5 points from the previous month.
* This article has been translated by AI.
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