Seoul's apartment prices have risen for the 88th consecutive week, with an increase of 0.16% over the past week, marking two weeks of growth. Yongsan, which had seen declines for two weeks, has also turned upward. While the Gangnam area continues to experience a downturn, outer districts such as Jungnang, Seongbuk, and Seodaemun are driving the overall increase in Seoul.
According to the Korea Real Estate Agency's report on weekly apartment price trends for the second week of October 2026, the average apartment sale price in Seoul rose by 0.16% compared to the previous week, following a six-week period of declining prices.
Yongsan saw a 0.03% increase this week, marking its return to growth after three weeks. This uptick reflects renewed transactions in high-end areas along the Han River that had previously shown a downward trend.
The 14 districts north of the Han River experienced an average increase of 0.31%. Jungnang (0.42%) saw gains primarily in small to mid-sized apartments in Shinnae and Sangbong-dong, while Seongbuk (0.41%) rose mainly in large complexes in Donam and Jeongneung-dong. Seodaemun (0.40%), Dobong (0.39%), and Nowon (0.37%) also recorded significant increases.
In contrast, the 11 districts south of the Han River had a modest average increase of just 0.04%. However, Geumcheon (0.36%) saw growth in the Siheung and Doksan-dong areas, Guro (0.34%) in the Guro and Sindorim-dong station areas, and Gwanak (0.34%) in Bongcheon and Sillim-dong. Gangnam (-0.35%) and Seocho (-0.27%) have continued their decline for ten weeks, while Songpa (-0.21%) has seen six weeks of falling prices.
The Real Estate Agency noted, "While some properties have been released at lower prices, leading to declining transactions, prices have risen for preferred large complexes, small to mid-sized apartments, and properties near transit stations."
The rental market also continues to rise, with Seoul apartment rents increasing by 0.18% compared to the previous week. Notable increases were seen in Seongbuk (0.39%), Nowon (0.38%), Jungnang (0.37%), and Mapo (0.27%). Rents in the metropolitan area rose by 0.18%, while provincial areas saw a 0.04% increase.
Nam Hyuk-woo, a researcher at Woori Bank's Real Estate Research Institute, stated, "In mid-priced areas of Seoul such as Seongbuk, Dongdaemun, Gangseo, and Seodaemun, the lack of available properties for sale and rent is preventing sellers from lowering their asking prices. As loan burdens increase, actual buyers are moving to relatively lower-priced areas in the outskirts of Seoul or popular regions in Gyeonggi Province."
Despite Yongsan's rebound, experts remain cautious about the high-end housing market. Nam added, "In the Gangnam area, price adjustments are occurring primarily in regions with high-end apartments priced over 4 billion won. The Han River belt, including Yongsan, is also likely to see continued price weakness due to lending restrictions and tax uncertainties affecting high-end properties."
* This article has been translated by AI.
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