Seoul's apartment prices have risen for the 84th consecutive week. While the Gangnam area, including Gangnam, Seocho, and Songpa, experienced declines, northern districts such as Jungnang, Dobong, and Seodaemun recorded significant increases, driving up the overall housing prices in the city.
According to the Korea Real Estate Agency's report on weekly apartment price trends for the second week of September 2026, the national average apartment sale price increased by 0.08% compared to the previous week. The metropolitan area saw a rise of 0.15%, while Seoul's prices climbed by 0.16%, with both growth rates slightly lower than the previous week by 0.01 and 0.04 percentage points, respectively. Notably, this marks 84 consecutive weeks of price increases in Seoul since the first week of February last year. In contrast, regional prices remained stable.
In Seoul, a stark contrast emerged between the northern and southern districts. The 14 northern districts saw a 0.29% increase, a decrease from the previous week's 0.33%, yet still significantly above the city average.
Jungnang District recorded the highest increase among Seoul's 25 districts, rising by 0.51%, primarily driven by large complexes in Shinnae and Sangbong-dong. Dobong District increased by 0.47%, focusing on small to medium-sized complexes in Chang-dong and Banghak-dong, while Seodaemun District also rose by 0.47%, mainly in Hongun and Bukgajwa-dong. Seongbuk District (0.43%) and Dongdaemun District (0.36%) continued their upward trends, centered around Jeongneung and Donam-dong, and Imun and Dapsimni-dong, respectively.
Conversely, the 11 districts in Gangnam saw only a 0.04% increase, halving the growth rate from the previous week's 0.08%. All three Gangnam districts experienced declines, with Gangnam District dropping by 0.36%, the largest decrease, followed by Seocho and Songpa, which fell by 0.26% and 0.12%, respectively. Gangnam and Seocho have seen declines for six consecutive weeks, while Songpa has dropped for two weeks.
A representative from the Korea Real Estate Agency explained, "While there are localized downward adjustments in listings leading to some declining transactions, strong demand for preferred properties such as new builds, large complexes, and small to medium-sized units has resulted in overall price increases in Seoul."
The rental market also continued its upward trend. Nationwide, apartment rental prices rose by 0.10% compared to the previous week. The metropolitan area saw a 0.16% increase, while Seoul's rental prices rose by 0.17%, and regional prices increased by 0.04%. The growth rates in the metropolitan area and regions remained consistent with the previous week, while Seoul's increase was slightly lower by 0.02 percentage points.
In Seoul's rental market, the northern districts showed a pronounced upward trend. The 14 northern districts rose by 0.27%, three times the increase seen in the 11 Gangnam districts (0.09%). Nowon District, focusing on large complexes in Sangye and Gongneung-dong, recorded the highest increase in Seoul at 0.45%, followed by Jungnang District (0.40%) and Dongdaemun District (0.34%), which also showed strong growth.
In contrast, the Gangnam area saw Seocho District decline by 0.26%, influenced by the influx of new units in Jamwon and Banpo-dong, while Gangnam District fell by 0.17%, primarily in major complexes in Daechi and Suseo-dong.
A representative from the Korea Real Estate Agency noted, "As some complexes have seen price adjustments in transactions, the overall rental prices in Seoul have risen, driven by properties in well-located areas and large complexes."
* This article has been translated by AI.
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