Business · Markets · 1 hr ago
16 Seoul Gangnam-area apartment sales were at least 5% below previous prices
In Seoul’s Gangnam Three Districts, 16 reported apartment sales were at least 5% below previous prices for the same complex and apartment size during one week.
The districts are Songpa, Gangnam and Seocho, with Songpa recording the most lower-priced sales.
In Seocho, an 84-square-metre home at Raemian One Bailey sold for 57 billion won, 14.5 billion won less than its previous sale.
Lower prices also appeared in apartments worth 10 billion to 30 billion won, not only in high-end homes.
Analysts point to tighter loan rules, the cost of financing expensive homes and uncertainty about future prices as possible reasons buyers are waiting and some sellers are accepting less.
One week of sales does not prove the whole area is in decline, since apartment features differ and reported sales may lag the contract date.
Future prices and sales volumes will show whether the dip continues or proves temporary.
Sixteen apartment sales in Seoul’s Gangnam-area districts were reported at least 5% below the previous sale price for the same complex and unit size.
The sales were reported from October 29 to November 4, with eight in Songpa-gu, six in Gangnam-gu and two in Seocho-gu.
The largest price drop was 1.45 billion won for an 84-square-metre unit at Raemian One Bailey in Seocho-gu.
The steepest percentage decline was 30.9%, for a 49-square-metre unit at Seongwon Daechi 3 Complex in Gangnam-gu.
An analyst attributed the pattern to tighter lending rules, financial burdens on high-priced homes and possible changes in tax policy.
The article cautioned that one week of reported deals was not enough to conclude that the three districts had entered a broad downturn.
- Who
- Sellers of apartments in Gangnam-gu, Seocho-gu and Songpa-gu, Seoul.
- What
- Sixteen reported sales were at least 5% below the previous price for the same complex and unit size.
- When
- From October 29 to November 4, 2026.
- Where
- Seoul’s three Gangnam-area districts: Gangnam-gu, Seocho-gu and Songpa-gu.
- Why
- The analyst cited tighter lending rules, financial pressure from high-priced homes and possible tax-related listings. The article said buyers may also be waiting for prices to adjust.
This story does not have two clearly opposing sides.
Sixteen reported apartment sales in the three districts were at least 5% below the previous price for the same complex and unit size.
Maeil Business reported the figures based on an analysis of the government’s real-estate transaction disclosure system.
- Total qualifying sales
- 16
- District breakdown
- Songpa-gu: 8; Gangnam-gu: 6; Seocho-gu: 2
- Largest price drop
- 1.45 billion won at Raemian One Bailey
- Steepest percentage decline
- 30.9% at Seongwon Daechi 3 Complex
- Sales period
- October 29–November 4, 2026
What people are saying
The result is interpreted as the combined effect of recently tightened lending regulations, the financial burden of high-priced homes, and the possibility of listings coming onto the market due to tax changes.
If transaction volume recovers after bargain listings are absorbed and subsequent transaction prices rebound, the recent adjustment may be limited to a temporary price readjustment.