Last month, the rise in Seoul apartment prices fell to the lowest level in five months. Analysts said the increase in listings after the plan to end the grace period for heavy capital gains taxes on multiple-home owners influenced the market.
According to the "February nationwide dwellings price trends survey" released by the Korea Real Estate Board (REB) on the 16th, last month's rise in Seoul apartment prices was 0.74%. That is 0.33 percentage points lower than January's 1.07%. The growth rate is the lowest in five months since September last year (0.58%).
In Seoul's Gangnam District, prices rose just 0.01% last month, slowing from 0.60% in January. It is the lowest since March 2024 (-0.03%). Songpa (1.43%→0.06%), Seocho (1.16%→0.30%), and Yongsan (1.37%→0.42%) also saw lower growth rates.
By contrast, Gwanak (1.36%), Yeongdeungpo (1.31%), Seongbuk (1.29%), Seongdong (1.25%), Gangseo (1.19%), Guro (1.19%), Jongno (0.98%), and Dongdaemun (0.98%) still had high growth rates.
Meanwhile, Seoul apartment jeonse prices rose 0.41% last month, slowing from 0.58% in January. In Songpa District, jeonse prices fell 0.47% over the month, and growth also slowed in Gangnam (0.17%), Dobong (0.25%), and Yongsan (0.31). Areas with higher jeonse price growth included Nowon (0.90%), Seongdong (0.87%), Seongbuk (0.80%), Seocho (0.75%), and Seodaemun (0.53%).