Seoul Housing Prices Slow Down While Southern Gyeonggi Sees Surge

Seoul's apartment prices are slowing down in both the Gangnam and Gangbuk areas, while the southern Gyeonggi region continues to experience significant growth. As lending restrictions increase the burden on homebuyers in Seoul, demand is shifting to relatively lower-priced areas in Gyeonggi.

According to the Korea Real Estate Agency's report on weekly apartment price trends for the first week of November 2026, Seoul's apartment sales prices rose by 0.07% compared to the previous week. This marks the 91st consecutive week of increases, but the rate of growth has decreased by 0.02 percentage points from last week’s 0.09%, marking a reduction for three consecutive weeks. In contrast, Gyeonggi Province recorded a 0.20% increase, surpassing Seoul's growth rate.

The three districts of Gangnam (Gangnam, Seocho, and Songpa) continued their downward trend. Gangnam District saw a decline of 0.39% and Seocho District dropped by 0.37%, both for 13 consecutive weeks, while Songpa District fell by 0.17% for nine weeks in a row. The declines were primarily centered around large complexes in Apgujeong and Gaepo-dong in Gangnam and Banpo and Jamwon-dong in Seocho. The average change rate for the 11 districts south of the Han River was -0.03%.

The previously rising Gangbuk area also saw a reduction in growth. The average increase for the 14 districts north of the Han River decreased from 0.22% last week to 0.19%. While districts like Seodaemun (0.31%), Seongbuk (0.30%), and Jungnang (0.28%) still showed high growth rates, their increases were smaller than the previous week. The Real Estate Agency noted, "While some complexes have seen price reductions leading to lower transactions, there are still rising contracts being signed in high-demand large complexes and areas near subway stations, indicating mixed trends across regions."

Conversely, the southern Gyeonggi area is experiencing a surge that is spreading to neighboring regions. Yongin's Giheung District recorded a 0.60% increase, the highest in the metropolitan area, followed by Gunpo (0.57%), Anyang's Dongan District (0.55%), Hwaseong's Dongtan (0.49%), and Uiwang (0.40%). Suwon saw a 0.36% increase, which was lower than the previous week but still at a high level.

The rental market also continued its upward trend. Seoul's apartment rental prices rose by 0.17%, maintaining the same growth rate as the previous week. Seongbuk District (0.41%) saw increases centered around the Gileum and Donam-dong areas, while Nowon District (0.37%) rose due to large complexes in Wolgye and Sangye-dong. Dongdaemun (0.29%) and Seongdong (0.28%) also experienced growth. However, Songpa (-0.05%) and Seocho (-0.01%) saw declines in rental prices. The Real Estate Agency stated, "While there were increases in preferred large complexes and areas near subway stations, some regions experienced transactions at reduced prices."