Seoul Apartment Official Prices Show Largest Increase in Five Years

TechubNews · 2026-03-17T10:28:48+00:00

Seoul's publicly announced apartment prices this year have surged sharply by double-digit percentages, marking the highest increase in five years, primarily driven by price increases in Gangnam and Han River district apartments. The three Gangnam districts' publicly announced prices have averaged a 24.7% increase, with Songpa District leading at 29.04%. In contrast, the national average increase is only 9.16%, with some regions even experiencing declines. This change may lead to increased property holding taxes and requires close monitoring of adjustments in government tax policies and urban planning.

TechubNews

2026-03-17 10:28:48

Abstract generation in progress

Driven by the rising apartment prices in Seoul, the announced public prices for multi-family residences in Seoul have surged by double digits this year, reaching the highest increase in five years. This appears to be significantly influenced by the sharp rise in apartment prices in the Gangnam and Han River areas.

This year’s announced public prices for multi-family residences in Seoul use the same realization rate (69%) as last year. The figures are based on January 1st, applying a 69% rate to individual market prices. Overall, the public prices for Seoul apartments have increased much more than the rates of actual transaction prices and sale prices. Notably, the average increase in public prices in the Gangnam districts (Seocho, Gangnam, Songpa) reached 24.7%, exceeding Seoul’s average.

The Han River area also showed high growth, with Dongdaemun District leading Seoul with a 29.04% increase. Additionally, several districts outside the Gangnam area experienced public price increases exceeding 20%. However, peripheral areas like Dobong District and Gangbuk District saw relatively lower increases, resulting in a wide disparity in overall growth.

Outside Seoul, the public price increase rates are relatively low or showing a downward trend. The national average increase is 9.16%, but regions like Jeju and Gwangju have actually declined compared to last year. The number of residential properties with public prices exceeding 1.2 billion won, used as the basis for comprehensive property tax assessment, has also increased significantly from last year, reflecting the distribution of major real estate markets.

These changes may lead to increased tax burdens for property owners, so careful management of public prices is necessary. It will be important to monitor future government policies on taxation and urban planning based on real estate market trends. The public prices are expected to be officially announced by the end of April, after which they will be finalized through an objection process.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes