Seoul apartment prices rose for an 85th consecutive week, matching the longest streak in the available Korea Real Estate Board series. The citywide index increased 0.13% in the third week of September, down from 0.16% a week earlier.
Gangnam declines as northern districts rise
The record-length run does not describe a uniform market. Gangnam fell 0.42%, Seocho declined 0.37% and Songpa dropped 0.14%. Gangnam and Seocho have now declined for seven consecutive weeks, while Songpa has fallen for three.
At the same time, districts with more apartments priced below the highest market tier continued to rise. Seodaemun gained 0.44%, while Dongdaemun and Seongbuk each rose 0.39%. The Korea Real Estate Board said preferred large complexes and areas with good transport access continued to support prices.
The citywide increase now reflects strength outside the traditional premium districts.
Editorial synthesis from the weekly data
The divergence shifts attention away from the traditional assumption that Seoul's premium southern districts set the direction for the whole city. The current increase is being sustained by strength elsewhere even as the best-known high-price areas weaken.
Gyeonggi and jeonse add pressure
Gyeonggi also outpaced Seoul for a second week. Its apartment sales index rose 0.23%, led in part by Suwon's semiconductor corridor: Yeongtong increased 1.09% and Gwonseon gained 0.66%.
Rental prices add another layer. Seoul jeonse prices rose 0.19%, slightly faster than the previous week's 0.17%. Seongbuk, Gangbuk and Nowon each increased more than 0.4%, while Gangnam and Seocho remained in decline.
Analysts cited a shortage of jeonse listings and liquidity moving from southern Gyeonggi as factors supporting middle- and lower-priced Seoul areas. Those pressures can push households toward districts where purchase prices remain lower than in Gangnam but competition is intensifying.
The next release could take Seoul beyond the previous 85-week duration record. More important than the streak itself will be whether the gap between premium districts and the rest of the metropolitan market continues to widen.