Seoul home prices edge up as some districts decline, others rise
The Korea Real Estate Board (한국부동산원) released its weekly nationwide apartment trend for the second week of March, showing Seoul prices up 0.08% from the previous week. The national index rose 0.04% on the week, with Seoul and Gyeonggi Province driving the gain.
In Seoul, the Gangnam Three districts—Gangnam-gu, Seocho-gu, and Songpa-gu—continued to fall for a third consecutive week, with Gangnam down 0.13%, Songpa down 0.17%, and Seocho down 0.07%. Yongsan-gu also posted a decline, at 0.03%.
Gangdong-gu broke into the downward trend as well, marking the first price drop since the first week of February 2025 and ending a 56-week stretch of gains. The four districts in southeast Seoul all posted week-on-week declines, totaling a 0.11% drop for Seoul’s southeastern area and continuing a three-week downward run there.
By contrast, districts that host many units priced at 1.5 billion won or less—largely in central-north Seoul and across the northwest and southwest—saw gains. Jung-gu rose 0.27%, Seongbuk-gu 0.27%, Gangseo-gu 0.25%, and Dongdaemun-gu 0.22%.
Outside Seoul, prices in Gyeonggi Province rose 0.10% week-on-week, with notable gains in Suwon’s Yeongtong District (+0.45%), Hanam (+0.43%), and Anyang’s Dongan-gu (+0.42%). Incheon recorded smaller gains, while the regional picture overall pointed to continued regional divergence in the housing market.
Jeonse prices, the lump-sum long-term security deposits used in Korea’s rental market, rose nationwide by 0.09% from the previous week. Seoul’s jeonse rose 0.12%, higher than the national average, while Incheon and Gyeonggi posted increases of 0.08% and 0.13%, respectively, keeping the capital region’s total rise at 0.12%.
Across eight provinces, the overall price change stood at a modest 0.02% weekly increase. The nationwide jeonse trend and the differential performance within Seoul’s districts underscore persistent regional variation in demand, rental markets, and the affordability mix that shapes Korea’s housing cycle.
Why this matters for the United States: Seoul’s housing trends influence Korea’s consumer spending, household leverage, and financial conditions, all of which affect domestic demand for technology, automobiles, and other goods produced by U.S. suppliers. The pattern—strong demand in more affordable inner-city and peripheral areas alongside continued weakness in some premium districts—reflects policy pressures on mortgage lending and real estate speculation, illustrating how Korea’s housing cycle can move in tandem with or diverge from global financial conditions. For U.S. investors and companies with Korea exposure, these shifts inform risk assessment, market sentiment, and the likely path of policy actions that could affect Korean banks, investment flows, and cross-border commerce.