Seoul Apartment Prices Turn Upward Again After One Month

Following the end of the government's temporary suspension of higher capital gains tax rates for multi-homeowners, Seoul apartment prices, which had been declining in March, have resumed an upward trend after just one month. The real transaction price index for Seoul apartments in April rose by 0.08% compared to the previous month.

By residential area, the Northeast region recorded the highest monthly price increase for apartment sales transactions at 0.61% in April. The Southwest (0.21%) and Northwest (0.1%) regions also saw gains, while the Central and Southeast regions experienced declines.

From January to April, the cumulative increase across Seoul stood at 3.2%, with the Northeast (4.6%) and Southwest (4.4%) regions showing the largest gains.

The Seoul Metropolitan Government attributed this price increase to concentrated demand from genuine buyers focused on relatively lower-priced apartments, where the financial burden of acquisition is comparatively lower due to loan restrictions.

In May, Seoul apartment sales transactions totaled 7,282 units, a decrease of 15.2% from the previous month. The proportion of transactions for properties priced at 1.5 billion won or less increased by 0.4 percentage points to 76.4% over the same period.