The Bank of Korea analyzed that the 6·27 measures have to some extent calmed the overheating in the greater Seoul area dwellings market. The 6·27 measures are a plan announced on Jun. 27 to strengthen household debt management. Transactions of high-priced dwellings exceeding 600 million won have decreased, and the central bank also sees a decline in "gap investing," in which buyers purchase while carrying over a jeonse lease.
On the 11th, the central bank released these findings through the report "Assessment of the dwellings market and household lending after the 6·27 measures," included in the Currency and Credit Policy Report (September 2025). The 6·27 measures are characterized by capping mortgage loan limits for the greater Seoul area and regulated zones at 600 million won.
According to the central bank, the share of transactions for dwellings exceeding 860 million won in Seoul fell from 51.3% in June to 36.8% in July. The share of transactions for dwellings over 1.2 billion won also declined, from 33.9% in June to 23.2% in July.
860 million won is the highest dwellings price that can be purchased outside regulated zones—where the loan-to-value (LTV) ratio is 70%—when taking out the mortgage loan up to the 600 million won limit. 1.2 billion won is the highest dwellings price purchasable in regulated zones—where the LTV is 50%—when borrowing up to the mortgage limit.
The pace of household lending growth also slowed. The increase in household lending in July was 4.3 trillion won, about one-third less than the previous month (6.1 trillion won). This was due to banks and other financial institutions tightening counter lending reviews, halting broker-originated loans, and limiting monthly application caps. However, as dwellings transactions rose in May–June, the increase in household lending expanded to 5.4 trillion won in August, though the central bank noted "the extent of the increase is limited."
However, dwellings prices in Seoul are still on the rise. As of last month, apartment price growth rates in Gangnam, Seocho, and Songpa were 5.0%, 6.9%, and 11.0%, respectively. Compared with the average of the past three years, Gangnam is 1.0 percentage point (p), Seocho 1.9 p, and Songpa 5.5 p higher. The central bank said, "For apartments exceeding 1.5 billion won, record-high transactions continued even after July," adding, "Expectations for further price increases and potential purchase demand are also seen as solid."
Regarding the 9·7 measures to supply 1.35 million homes in the greater Seoul area by 2030, the central bank gave a positive assessment. Park Jong-u, an assistant governor at the central bank, said, "After the 6·27 measures, there were calls for supply measures to proceed in tandem, and we see the 9·7 measures as responding to that," adding, "They will help stabilize market sentiment to some extent."