Seoul apartment prices maintained a 91-week upward trajectory even as the Gangnam three-district cluster softened, according to data released by the Korea Real Estate Board.
- Average apartment prices across Seoul rose 0.07% during the first week of November, backed by steady demand in non-prime districts.
- The price gap between Seoul’s benchmark 84㎡ units and smaller 59㎡ properties narrowed as stricter mortgage caps altered buyer behavior.
- Real Estate research firm Real Today reported that the 29.7% year-over-year contraction in unit price spread reflects direct pressure from government loan restrictions.
The price differential between Seoul’s baseline 84㎡ units, frequently designated as the national standard size, and 59㎡ properties compressed to roughly 170 million KRW, donga.com reported. Real Today analyzed Ministry of Land, Infrastructure and Transport transaction records to publish these metrics.
Average prices for 84㎡ apartments registered at 1.301 billion KRW in September. Comparable 59㎡ units averaged 1.132 billion KRW, leaving a gap of 168.94 million KRW. Last year, the equivalent divergence stood at 240.26 million KRW, marking a 29.7% compression over twelve months.
Compared to February of last year when Seoul’s broader market recovery began, the price disparity has contracted by 59.5%.
| Period | 84㎡ Average Price | 59㎡ Average Price | Price Difference | YoY Change |
|---|---|---|---|---|
| September Last Year | 1.344 billion KRW | 1.10376 billion KRW | 240.26 million KRW | – |
| September This Year | 1.301 billion KRW | 1.132 billion KRW | 168.94 million KRW | -29.7% |
Stricter mortgage regulations restricted borrowing capacities, pushing prospective purchasers toward smaller properties with higher relative loan eligibility ceilings.
Moderate-priced housing zones demonstrated parallel compression patterns. Geumcheon, Gwanak, and Guro districts saw gaps narrow by 30.9%. Meanwhile, northern clusters including Nowon, Dobong, and Gangbuk registered a 26.7% reduction, drawing the spread between unit sizes down near the 100 million KRW threshold.
This compression in price gaps between mid-sized and small apartments is analyzed to be a result of strengthened lending regulations.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
