Last month, housing prices in Seoul increased by 0.84%, significantly outpacing the national average. Areas such as Seongbuk, Nowon, and Seodaemun saw increases of over 1.5%, with the upward trend spreading to key regions in southern Gyeonggi, including Suwon's Yeongtong District, Seongnam's Bundang District, and Yongin's Giheung District.
According to the Korea Real Estate Agency's "September National Housing Price Trend Survey" released on the 15th, the comprehensive housing price in Seoul rose by 0.84% compared to the previous month, far exceeding the national increase of 0.30% and the metropolitan area's rise of 0.60%.
The increase was particularly notable in northern Seoul. Seongbuk District (1.61%) saw gains centered around the large complexes in Donam and Jeongneung-dong, while Nowon District (1.58%) rose mainly in Sangye and Junggye-dong. Seodaemun District (1.57%), Gwangjin District (1.41%), and Dongdaemun District (1.40%) also recorded high increases.
In contrast, Gangnam District experienced a decline of 1.14%, primarily in the Daechi and Apgujeong areas, while Seocho District fell by 0.60%, particularly in the Banpo and Jamwon areas. However, areas within Gangnam, such as Gwanak District (1.22%), Guro District (1.19%), and Gangseo District (1.17%), showed positive trends.
In the metropolitan area, housing prices in Gyeonggi rose by 0.63%, driven by increases in Suwon's Yeongtong District, Seongnam's Bundang District, and Yongin's Giheung District. Conversely, Incheon saw a slight decline of 0.11%, particularly in the Michuhol, Namdong, and Seohae districts.
Nam Hyuk-woo, a researcher at Woori Bank's Real Estate Research Institute, stated, "The strong housing prices in southern Gyeonggi, centered around Suwon, are spreading to adjacent areas, attracting real demand to relatively affordable regions like Uiwang, Gunpo, and Hwaseong Byeongjeom. The demand for purchasing homes, driven by a shortage of rental listings, along with the desire to upgrade to better neighborhoods, is supporting the overall price increase in southern Gyeonggi."
Last month, both jeonse (long-term lease) and monthly rental prices also rose. The national comprehensive jeonse price increased by 0.34%, while in Seoul, it rose by 0.74%. The metropolitan area saw a 0.60% increase, while regional areas experienced a 0.09% rise. The national comprehensive monthly rental price increased by 0.39%, with Seoul's increase of 0.82% more than double the national average.
In Seoul, demand for rentals continued to rise, particularly in key areas such as near subway stations and large complexes, leading to increased jeonse prices. In Gyeonggi, jeonse prices rose by 0.53%, mainly in Suwon's Yeongtong District and Gwangmyeong's subway station areas, while Incheon saw a 0.50% increase in large complexes in Seohae and Yeonsu districts.
The Real Estate Agency noted, "While some areas have seen downward adjustments in prices, steady demand continues in preferred locations with good living conditions, leading to price increases in Seoul and the metropolitan area. There is consistent rental demand in highly desirable areas, with jeonse and monthly rental prices rising across school districts, transit hubs, and large complexes."
* This article has been translated by AI.
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