Seoul's apartment prices have risen for 86 consecutive weeks, setting a new record for the longest increase. However, the overall growth in Seoul has slowed, with high-priced areas like Gangnam and Yongsan showing signs of decline, highlighting regional disparities.
According to the Korea Real Estate Agency's report on weekly apartment price trends for the fourth week of September 2026 (as of September 28), nationwide apartment sale prices increased by 0.06% compared to the previous week. The metropolitan area saw a rise of 0.12%, while Seoul's prices climbed by 0.09%, with each growth rate down by 0.05 and 0.04 percentage points, respectively, from the previous week. Seoul's apartment prices have now risen for 86 consecutive weeks since the first week of February last year, marking the longest increase on record.
In Seoul, the weakness in the Gangnam area has become pronounced. Gangnam District saw a decline of 0.56%, primarily in major complexes in Apgujeong and Daechi-dong. Seocho District dropped by 0.33%, mainly in Banpo and Jamwon-dong, while Songpa District fell by 0.19%, particularly in Bangi and Jamsil-dong. Gangnam and Seocho have experienced declines for eight weeks, and Songpa has seen a decrease for four weeks.
Yongsan District also turned downward, dropping by 0.01% mainly in Munbae and Ichon-dong. In contrast, areas in Gangbuk, such as Seodaemun (0.41%), Dongdaemun (0.36%), Seongbuk (0.36%), and Nowon (0.34%), showed relatively high growth rates. In Gangnam, Geumcheon (0.25%) and Gangseo (0.23%) continued to rise.
A representative from the Real Estate Agency stated, "While transactions are being concluded in large complexes and near subway stations with steady demand, some areas are experiencing downward adjustments, resulting in mixed trends across regions, yet the overall trend in Seoul remains upward."
The rental market also continued its upward trend. Nationwide apartment rental prices increased by 0.09% compared to the previous week, with the metropolitan area rising by 0.14%, Seoul by 0.16%, and provincial areas by 0.03%.
In Seoul, the rise in Gangbuk was particularly notable. Seongbuk, Gangbuk, and Nowon each rose by 0.36%, while Dobong (0.30%) and Dongdaemun (0.28%) also recorded high growth rates. In Gangnam, Seocho saw a decline of 0.23% due to the impact of new supply. Conversely, Geumcheon (0.27%), Gangdong (0.20%), Yeongdeungpo (0.18%), and Gangseo (0.17%) experienced increases.
The Real Estate Agency representative added, "While some complexes are seeing price adjustments due to new supply, areas with favorable living conditions are driving overall rental prices up in Seoul."
* This article has been translated by AI.
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