In October, the average sale price of apartments in Seoul increased by 0.61% compared to the previous month, marking the lowest growth rate recorded this year. While prices continued to rise in the Gangbuk area, declines were observed in Gangnam and Seocho.
According to KB Real Estate's "October National Housing Price Trends" report released on the 25th, the sale price of apartments in Seoul rose by 0.61% from the previous month. This increase has been shrinking for two consecutive months and is the lowest monthly growth rate of the year.
Among Seoul's districts, Nowon recorded the highest increase at 1.52%. It was followed by Jongno (1.32%), Dobong (1.29%), Seongbuk (1.25%), Jungnang (1.14%), and Dongdaemun (1.10%). In contrast, Gangnam saw a decrease of 0.33%, and Seocho dropped by 0.04% compared to the previous month.
In the metropolitan area, apartment sale prices in Gyeonggi and Incheon rose by 0.74% and 0.08%, respectively. Notably, Gyeonggi Province recorded a higher growth rate than Seoul.
Within Gyeonggi, the highest increases were seen in Dongtan (2.71%), Byeongjeom (2.42%), Gunpo (2.29%), and Suwon Yeongtong (2.12%). Conversely, Icheon (-0.84%), Anseong (-0.45%), Dongducheon (-0.26%), Goyang Ilsanseo (-0.18%), and Hwaseong Manse (-0.16%) experienced declines.
Nationally, apartment sale prices rose by 0.32% compared to the previous month.
Jeonse prices also continued to rise, with national housing jeonse prices increasing by 0.22% from the previous month. In the metropolitan area, Gyeonggi (0.46%), Seoul (0.31%), and Incheon (0.24%) had the highest growth rates.
Expectations for future housing price increases have decreased compared to the previous month. A survey conducted among approximately 6,000 real estate agencies nationwide revealed that the sale price outlook index fell by 1.5 points to 106.2.
An index above 100 indicates that more respondents expect housing prices to rise in three months, while an index below 100 suggests a prevailing expectation of decline.
The sale price outlook index for Seoul was recorded at 112.8, down 3.6 points from the previous month, the lowest level in the past six months. However, it remains above the baseline of 100, indicating that expectations for price increases still outweigh those for declines.
The jeonse price outlook index also declined, with the national index falling by 0.7 points to 120.0. In Seoul, it dropped by 3.4 points to 128.7.
Meanwhile, the "KB Leading Apartment 50 Index," which reflects price changes in the top 50 apartment complexes by market capitalization, fell by 0.39% to 98.8, marking an increase in the monthly decline rate for two consecutive months.
Earlier, on October 22, the Korea Real Estate Agency reported that the sale price of apartments in Seoul rose by 0.13% in the third week of October, a decrease from the previous week's increase of 0.16%. In contrast, Gangnam and Seocho continued their downward trend, dropping by 0.31% and 0.32%, respectively, for 11 consecutive weeks, while Songpa fell by 0.13%, marking its seventh consecutive week of decline.
* This article has been translated by AI.
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