The rise in Seoul apartment prices widened again after a week. While price adjustments appeared in areas packed with high-end apartments such as Gangnam District and Seocho District, gains stood out mainly in relatively lower-priced areas, including northern districts such as Jungnang, Seongbuk, Gangbuk, Dobong, and Nowon, and in western and southern districts such as Gangseo, Guro, and Gwanak.
According to the "weekly apartment price trends for the fourth week of August (as of the 24th)" released on the 27th by the Korea Real Estate Board (REB), Seoul apartment sale prices rose 0.29% from the previous week. The increase widened by 0.07 percentage points from 0.22% last week.
The apartment price growth rate in the 14 northern districts of Seoul reached 0.40%, double that of the 11 southern districts (0.20%). Jungnang District recorded the highest increase in Seoul at 0.56%, with Seongbuk District and Gangbuk District each up 0.55%, and Dobong District and Nowon District each up 0.54%.
In Jungnang District, prices rose mainly around stations in Sinnae and Sangbong neighborhoods, and in Seongbuk District, mainly for small and mid-sized apartments in Jeongneung and Gireum neighborhoods. In Gangbuk District, large complexes in Mia and Beon neighborhoods led gains; in Dobong District, Chang and Dobong neighborhoods; and in Nowon District, Sanggye and Junggye neighborhoods saw rising transactions.
In the southern districts, differences by area were clear. Apartment prices in Gangnam District fell 0.11%, and Seocho District also declined 0.05%. In Gangnam District, major complexes in Daechi and Apgujeong neighborhoods saw prices drop, and in Seocho District, Jamswon and Banpo neighborhoods led the declines.
By contrast, Gangseo District rose 0.50% centered on areas near stations in Deungchon and Yeomchang neighborhoods, and Guro District climbed 0.49% centered on Guro and Gocheok neighborhoods. Gwanak District also rose 0.46%, mainly in large complexes in Sillim and Bongcheon neighborhoods.
The Korea Real Estate Board (REB) said, "Although some complexes saw listings with adjusted prices amid a wait-and-see mood and there were also declining transactions, rising contracts were detected mainly in major complexes with good transportation conditions and high preference."
Apartment prices in the greater Seoul area also widened their gains. The region rose 0.22% this week, with the increase expanding from the previous week. Incheon held the same growth rate as the previous week at 0.01%, while Gyeonggi Province's rise widened from 0.15% to 0.23%.
In Gyeonggi Province, Yeongtong District in Suwon posted the highest increase at 0.75%, led by small and mid-sized apartments in Mangpo and Yeongtong neighborhoods. Gwangmyeong City rose 0.69% mainly in major complexes in Haan and Cheolsan neighborhoods, and Suji District in Yongin climbed 0.66% centered on Pungdeokcheon and Sanghyeon neighborhoods. By contrast, Ilsandong District in Goyang fell 0.16%, and Icheon City declined 0.13%.
Nationwide apartment sale prices rose 0.11%. Provincial areas also gained 0.01%, extending the upward trend. North Jeolla rose 0.09%, Ulsan 0.08%, South Gyeongsang 0.04%, and Daejeon and North Chungcheong each climbed 0.03%. By contrast, Jeju fell 0.07%, South Chungcheong 0.04%, North Gyeongsang 0.03%, and Busan 0.02%.
The jeonse market also continued to rise. Nationwide apartment jeonse prices increased 0.11%, with the greater Seoul area up 0.20% and Seoul up 0.22%. The rise in Seoul's jeonse prices widened from 0.19% last week to 0.22%.
In Seoul, Seodaemun District posted the highest growth at 0.45%, centered on Bukgajwa and Namgajwa neighborhoods. Dobong District and Nowon District each rose 0.37%, Seongbuk District climbed 0.36%, and Jongno District increased 0.35%. In the southern districts, Geumcheon District rose 0.44%, Gwanak District 0.28%, and Gangseo District and Dongjak District each 0.26%. Seocho District fell 0.04% due to the impact of new move-in supply in Jamwon and Banpo neighborhoods.
Regarding the Seoul jeonse market, the Korea Real Estate Board (REB) noted, "As rental demand continued mainly in areas near stations with excellent job-housing proximity and major complexes, rising transactions were observed."