Seoul apartment prices rise for 86 consecutive weeks... the pace of increase is slowing
Seoul apartment sale prices have risen for 86 consecutive weeks, but the upward trend is slowing Check out the shift to declines in the Gangnam area and the jeonse trend as well
Apartment sale prices in Seoul rose for 86 consecutive weeks, setting a new record for the longestever increase. However, with the pace of gains having slowed for five straight weeks recently, the upward trend appears to have somewhat cooled.
According to the Korea Real Estate Board, as of the fourth week of September, apartment sale prices in Seoul rose 0.09% from the previous week. The three Gangnam districts—Gangnam, Seocho, and Songpa—continued to decline, and Yongsangu also turned downward for the first time in 22 weeks. Seongdonggu saw its rate of increase slow, showing a trend close to flat.
Outer areas of Seoul and the Gyeonggi region still maintained an upward trend, but the overall pace of increases slowed. Experts analyzed that the market could slow further depending on interest rate trends and changes in demand. Jeonse prices also generally continued to rise in Seoul, Gyeonggi, and Incheon.