Seoul apartment prices rise for 85 consecutive weeks, tying the longest record ever
Seoul apartment prices have risen for 85 consecutive weeks, matching the longest run on record Despite weakness in Gangnam, large complexes and station-area properties outside Gangnam are leading the uptrend
Seoul apartment sale prices have risen for 85 consecutive weeks, reaching the same level as the longestever period of increase. This tally is based on the third week of September, and the overall Seoul sale price rose 0.13% from the previous week.
The Gangnam 3 districts showed weakness amid concerns over increasing tax burdens, but in nonGangnam areas such as Seodaemungu, Dongdaemungu, Seongbukgu, and Nowongu, the upward trend continued, centered on large complexes and areas near subway stations. Korea Real Estate Board explained that although there were adjusted transactions in some complexes, demand in areas with favorable living conditions drove the overall rise in Seoul.
Apartment prices in Gyeonggido also saw a larger increase, and apartment prices in the Seoul metropolitan area and nationwide also maintained their upward trend. Jeonse prices also rose in both Seoul and Gyeonggi, continuing the overall strong trend in the housing market.