[Deep Dive] Seoul Apartment Prices Rise 0.21%: Gangnam Declines While Outskirts Surge
Seoul apartment prices rose 0.21% in the second week of August, maintaining an upward trend but at a slower pace. Polarization is deepening as Gangnam areas shift to a decline due to tax burdens while the outskirts continue their strong momentum.
Seoul Apartment Prices Continue to Rise, but at a Slower Pace
According to the Korea Real Estate Board's weekly apartment price trends as of August 10, 2026, Seoul apartment sales prices rose 0.21% week-over-week. While maintaining an upward trajectory, the growth rate decelerated by 0.05 percentage points compared to the previous week (0.26%). Concerns over general housing supply shortages and rising jeonse (key money deposit) ratios continue to provide a firm floor for sales prices. However, the ripple effects of the recently announced August 13 housing supply measures and tighter financial regulations appear to be gradually inducing a wait-and-see approach among buyers.
Gangnam Turns Negative While Outskirts Surge
The most notable development in this recent data is the extreme regional polarization. As the government's announced tax reform plans increase the burden on high-value homeowners, the Gangnam area—which traditionally leads the Seoul real estate market—has shifted to a downward trend. Seocho-gu and Gangnam-gu recorded -0.04% and -0.02%, respectively, marking their first declines in 16 and 14 weeks.
Conversely, the outskirts in the Gangbuk and southwestern regions are demonstrating robust strength. Despite tighter lending rules, actual demand is heavily concentrating on mid-to-low-priced apartments with relatively lower entry barriers, driving the price increases.
- Key growth areas in Gangbuk: Jungnang-gu (0.46%), Seongbuk-gu (0.43%), Seodaemun-gu (0.41%)
- Key growth areas in the Southwest: Gwanak-gu (0.34%), Geumcheon-gu (0.30%)
Market Outlook and Implications for Investors
The current metropolitan real estate market exhibits a mixed picture; while there is steady demand centered around large apartment complexes and transit hubs, the temperature difference between districts is stark. In the short term, higher borrowing thresholds driven by household debt management policies and interest rate volatility will serve as the core variables shaping the market. Investors and homebuyers should look beyond the surface-level overall index growth, closely analyzing the localized impacts of tax regulations and new supply plans while establishing highly conservative financial strategies.