Seoul Housing Prices Rise Again, with Seongbuk Up 15% This Year

Seoul's apartment prices are on the rise again, expanding their growth for the first time in six weeks. This year, apartment prices in Seongbuk District have increased by over 15%, with 11 of Seoul's 25 districts recording double-digit growth rates.

According to the Korea Real Estate Agency's report on weekly apartment price trends for the first week of October 2026, the average sale price of apartments in Seoul rose by 0.12% compared to the previous week. This marks an increase of 0.03 percentage points from last week's growth of 0.09%, halting a five-week trend of slowing price increases. Seoul's apartment prices have now risen for 87 consecutive weeks, with a cumulative increase of 8.31% this year.

By district, Seongbuk saw the highest increase at 15.21% this year, followed by Seodaemun (12.81%), Gangseo (12.24%), Guro (12.07%), Nowon (11.86%), Dongdaemun (11.76%), and Gwanak (11.73%), all of which recorded double-digit cumulative growth rates.

This trend contrasts sharply with last year, when only four districts—Seongdong, Seocho, Gangnam, and Songpa—saw apartment prices rise by more than 10% by the same week. This year, the number of districts with double-digit growth has increased to 11, while the four districts that led last year's price increases have all been excluded. Notably, Gangnam has experienced a cumulative decline of 0.60% this year, and Seocho has only seen a modest increase of 1.09%.

This week, price increases were particularly pronounced in non-Gangnam areas. Gwanak's growth rose from 0.21% to 0.33%, while Geumcheon increased from 0.25% to 0.34%. Guro (0.20% to 0.28%) and Mapo (0.08% to 0.22%) also saw their growth rates increase.

In contrast, Gangnam (-0.56% to -0.34%) and Seocho (-0.33% to -0.27%) continued their downward trends, although the rate of decline has slowed. The overall growth rate in the northeastern region slightly decreased from 0.28% to 0.27%, indicating regional variations.

In the rental market, prices are rising at a steeper rate than sale prices. This year, Seoul's apartment rental prices have increased by 8.35%, surpassing the cumulative increase in sale prices of 8.31%. This marks a shift from last year, when sale prices rose by 5.53% and rental prices by only 1.87% by the same week.

Notably, the cumulative rental price increase in the northeastern region stands at 11.44%, exceeding the sale price increase of 11.09%. Among districts, Seongbuk (14.08%), Nowon (13.52%), Gangbuk (10.94%), Seongdong (10.84%), and Dobong (10.82%) all recorded double-digit rental price increases.

This week, Seoul's apartment rental prices rose by 0.16%, the same as the previous week. While some areas experienced price declines due to an influx of new units, demand for rentals in regions with good school districts and transportation options has sustained an overall upward trend.