Business · Companies · 3 hrs ago
Seoul apartment listings top 80,000 as sales transactions fall
The number of apartments listed for sale in Seoul passed 80,000, reaching 80,430 on November 4.
Listings had climbed by 33.1% in the three months after the government announced tax changes on August 3.
The changes lower property tax burdens for people living in their only home, while reducing tax benefits for owners of expensive homes they do not live in and for multiple-home owners.
Listings increased in the wealthy Gangnam area and in outer districts, with Seongbuk recording the biggest percentage rise.
At the same time, Seoul apartment sales transactions fell to 3,431 in September, the lowest monthly figure in nine months.
President Lee Jae-myung said listings were rising quickly, transactions were falling and actual sale prices in some major areas were also dropping.
The figures show more homes being offered for sale even as fewer deals are being completed.
Seoul apartment listings reached 80,430, passing 80,000 for the first time since listings began rising again after an August tax overhaul announcement.
The total was up 33.1% from the day the government announced the overhaul on August 3.
Listings rose across the city, including in the three Gangnam districts and in outer districts such as Seongbuk, Gangseo and Nowon.
Seoul recorded 3,431 apartment sales in September, the lowest monthly total in nine months.
President Lee Jae-myung said listings were rising rapidly while transactions and actual sale prices in major areas were falling.
- Who
- Seoul apartment owners put properties up for sale, according to the report. Asil counted the listings.
- What
- Seoul apartment listings rose above 80,000, while sales transactions fell.
- When
- The listing count was 80,430 on the 4th; the article was published on November 3, 2026.
- Where
- Seoul, South Korea.
- Why
- Listings began rising after the government announced a tax overhaul on August 3, which reduced tax benefits for owners of high-priced, non-resident homes and multiple-home owners.
This story does not have two clearly opposing sides.
Seoul apartment listings stood at 57,001.
Listings briefly exceeded 80,000.
Listings had fallen to 69,175, one day before the end of the multi-home capital gains tax surcharge grace period.
The government announced its tax overhaul, when Seoul apartment listings numbered 60,409.
Seoul recorded 3,431 apartment sales, the lowest monthly total since December of the previous year.
Asil counted 80,430 Seoul apartment listings.
- Seoul listings on the 4th
- 80,430
- Increase since August 3
- 20,021 listings, or 33.1%
- Gangnam districts' listings
- 29,802, up from 22,182 on August 3
- Seongbuk listings
- 2,376, up 61.1% since August 3
- Seoul apartment sales in September
- 3,431 transactions
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What people are saying
Apartment listings in the Seoul area are increasing rapidly, aren’t they? Transaction volumes are falling rapidly.
Actual transaction prices in major areas are continuing to fall. They are falling to a surprising extent, although there are areas where that is not the case.