After the June 27 household debt measures that capped home mortgage limits in the Seoul metropolitan area at 600 million won were announced, the Seoul dwellings market, which had paused for breath, showed a trend of transaction recovery and a rebound in prices in September.
On Oct. 20, Zigbang analyzed actual transaction data from the Ministry of Land, Infrastructure and Transport for June to October 2025 and found that the share of record-high price transactions for Seoul apartments rose from 22% in June to 24% in September. October is still in the early stages of transactions, so cumulative counts are small, but based on reports tallied so far, the share of record-high prices is at the September level.
Within Seoul, a recovery structure centered on regulated areas and prime locations was clear. As of September, Seocho District, a previously regulated area, had the highest share of record-high prices at 54%, followed by Gangnam District at 42%, Yongsan District at 35%, and Songpa District at 32%.
Newly regulated areas such as Mapo District (44%), Seongdong District (43%), Gwangjin District (50%), Dongjak District (36%), and Gangdong District (37%) also saw a rapid rise in the share of record-high prices.
By contrast, areas such as Nowon District (1%), Dobong and Geumcheon districts (2% each), Gangbuk District (4%), and Seongbuk and Gwanak districts (6% each) saw the share of record-high prices remain in the single digits, limiting the spread of gains.
Gyeonggi Province showed a similar pattern to Seoul, recovering along core corridors. In September, Gwacheon (57%); Seongnam's Bundang (43%), Jungwon (23%), and Sujeong (21%) districts; and Hanam (11%) recorded double-digit shares of record-high prices.
However, the speed of spread showed regional gaps. So-called mid-tier areas such as Suji in Yongin (8%), Jangan (8%) and Paldal (6%) in Suwon, and Gwangmyeong (7%) showed gradual recovery, while nonregulated areas saw relatively limited increases.
On Oct. 15, the government announced the Oct. 15 package centered on a blanket designation of 25 Seoul districts and 12 Gyeonggi areas as speculative overheated districts, adjustment target areas, and land transaction permit zones.
A Zigbang official said, "This package is interpreted as a stabilization measure to manage the upper-bound price pressure formed around the Gangnam area and the Han River belt and to temper market expectations," adding, "Some have expressed regret that even areas without large price increases were included as regulated zones, but this adjustment reflects not only price levels, but also transaction flows, demand migration paths, and the potential for sentiment to spread."
The official added, "In the short term, an adaptation period following the announcement is inevitable, so transaction volume may undergo a temporary adjustment," and "however, demand segments with financial capacity are expected to continue moving toward prime locations, while end users are likely to choose alternative areas or mid-priced dwellings that fit their budgets."