Seoul Home Prices Rise as Seongdong, Gangdong Districts Rebound

Seoul apartment sales prices have returned to an upward trend this week, bolstered by rebounds in some districts and a narrowing of price declines in others. The overall increase in Seoul apartment prices moderated slightly to 0.10% this week from 0.12% last week, but remained higher than the national average of 0.04% and the metropolitan area's 0.07%. However, price movements are showing distinct regional variations, underscoring a divergence in market sentiment.

Seongdong and Gangdong districts rebounded with price increases of 0.04% and 0.01% respectively, while Gangnam District saw its price decline narrow to -0.10% from -0.22% the previous week.

In contrast, Seocho District's price decline widened again to -0.06% from -0.02% last week, and Songpa District also continued to weaken, with prices falling -0.02% this week, down from -0.01% last week.

Korea Real Estate Board attributed the mixed price movements to areas experiencing a slight slowdown in transactions, alongside regions showing some upward momentum driven by proximity to subway stations, large complexes, and redevelopment initiatives.