Seoul Apartment Prices Record Biggest Rise in 6 Years and 9 Months, Even Public Housing Shows Upward Trend
Seoul Apartment Prices Soar to 6-Year High Seoul apartment prices have shown consecutive rises, with weekly trading prices in the third week of June recording the largest increase in 6 years and 9 months. According to the Korea Real Estate Board, Seoul apartment trading prices rose 0.36% compared to the previous week, marking a new turning point in the real estate market. Background of Seoul Housing Price Surge In response to the housing price surge in Seoul, the Financial Services Commission is taking emergency measures by introducing DSR (Debt Service Ratio) for jeonse loans and policy mortgages. This is interpreted as a preemptive measure to prevent real estate market overheating and ensure financial stability. Particularly, not only Gangnam's three districts but also areas like Mapo-gu and Seongdong-gu in the 'Han River Belt' are showing increases, expanding the areas experiencing price rises. The upward trend is spreading to Seou...