Apartment sales and rental prices in Seoul are continuing to rise. Despite a localized wait-and-see attitude, demand is flowing into key complexes and areas with development potential, leading to ongoing upward transactions. The increase in apartment prices that began in core areas is now spreading to mid-priced regions on the outskirts and to areas with strong market fundamentals in the metropolitan area.
According to the Korea Real Estate Agency's report on nationwide weekly apartment price trends for the third week of July 2026, released on July 23, apartment sales prices in Seoul rose by 0.27% compared to the previous week. Although the increase was slightly lower than the previous week's rise of 0.30%, the upward trend remains robust.
In the 14 districts of northern Seoul, prices increased by 0.33%, with Seongbuk District (0.47%) seeing significant gains primarily in large complexes in the Gileum and Hawol-dong areas. Nowon District (0.43%) also experienced a notable rise, particularly in smaller units in Sangye and Junggye-dong. Other districts such as Jung-gu (0.42%), Jongno-gu (0.40%), and Jungnang-gu (0.40%) also saw increases, driven by major complexes and areas with redevelopment prospects.
In the 11 districts of southern Seoul, prices rose by 0.23%. Guro District (0.38%) saw increases in smaller complexes in the Gaebong and Sindorim-dong areas, while Yeongdeungpo District (0.35%) rose mainly in the Singil and Daerim-dong areas. Geumcheon District (0.32%), Gangseo District (0.29%), and Songpa District (0.29%) also continued to rise, particularly around transportation hubs and major complexes.
Overall, apartment sales prices in the metropolitan area increased by 0.18%. Gyeonggi Province recorded a smaller increase of 0.17%, down from 0.21% the previous week. Bundang District in Seongnam (0.58%) showed a high increase in areas with good living conditions, such as Seohyeon and Gumi-dong, while Suji District in Yongin (0.50%) and Jungwon District in Seongnam (0.49%) also contributed to the upward trend. However, some areas, such as Icheon (-0.12%) and Paju (-0.10%), experienced declines.
In Incheon, the increase was minimal at 0.01%. While Seohae District (0.11%) and Michuhol District (0.07%) saw rises, areas like Namdong District (-0.14%) and Yeongjong District (-0.07%) limited the overall increase.
In regional markets, apartment sales prices remained stable at 0.00%. While Ulsan (0.07%), Jeonbuk (0.05%), Chungbuk (0.03%), and Jeonnam-Gwangju (0.04%) saw increases, areas like Jeju (-0.07%), Chungnam (-0.04%), Daegu (-0.03%), and Sejong (-0.04%) experienced declines. Nationwide, weekly apartment sales prices rose by 0.09%.
Weekly apartment rental prices nationwide also rose by 0.11%, the same as the previous week. In Seoul, rental prices increased by 0.27%, indicating sustained demand from tenants. Contracts were signed for major complexes in preferred areas, such as transportation hubs and school districts.
In northern Seoul, Nowon District (0.43%), Seongbuk District (0.42%), Gangbuk District (0.39%), and Jungnang District (0.38%) led the increase in rental prices. In southern Seoul, Songpa District (0.39%) saw rises primarily in Jamsil and Sincheon-dong, while Geumcheon District (0.38%) and Gangdong District (0.32%) increased due to demand in school districts and major complexes.
Rental prices in the metropolitan area rose by 0.19%. Gyeonggi Province recorded a 0.17% increase, with significant rises in Giheung District in Yongin (0.60%), Gwangmyeong City (0.52%), and Dongtan District in Hwaseong (0.47%). In Incheon, prices rose by 0.09%, driven by increases in Yeongjong District (0.15%) and Bupyeong District (0.12%).
In regional markets, rental prices increased by 0.04%. Ulsan (0.12%), Jeonbuk (0.09%), Busan (0.06%), and Sejong (0.04%) saw upward trends, while Jeju (-0.04%) and Gyeongbuk (-0.02%) experienced declines.
Nam Hyuk-woo, a real estate researcher at Woori Bank, noted, "Due to the impact of reduced loan limits in the financial sector, there is a continued influx of actual demand for mid-priced apartments around 600 million won in northeastern Seoul, while the transition to mid-range areas appears somewhat limited. In southern Gyeonggi Province, sellers benefiting from the rising prices in Dongtan and Suwon are attempting to transition to preferred locations like Bundang and Suji, driving price strength."
* This article has been translated by AI.
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