Seoul apartment prices break 16 billion won as outsider ownership jumps

Seoul’s housing market has shown simultaneous price surges and ownership shifts. In June, the median price of apartments south of the Han River rose to 16.033 billion won, the first time the figure has exceeded 16 billion since statistics began in 2008. Across all 25 districts, average apartment prices increased for the first time in four months, with the overall price index up 1.1% month‑on‑month and a 5.8% rise since the start of the year. Jeonse (rent‑to‑buy) prices also climbed, posting a 1.43% month‑on‑month increase and pushing the average lease value over 8 billion won.

Supply is expanding as well: July’s planned new apartment deliveries are projected at 29,671 units, about 30% more than a year earlier, with the Seoul metropolitan area accounting for roughly two‑thirds of the total. Meanwhile, half of new owners of newly built homes are non‑local residents, and personal‑ownership housing has grown 45%, highlighting a surge in outsider ownership that tax‑reform proposals are now targeting.