Seoul Apartment Price Growth Slows to 2026 Low in October

Seoul apartment prices continued to rise in October, but the pace of growth slowed to its weakest level this year, according to KB Real Estate’s latest monthly housing market data.

Apartment sale prices in the capital increased 0.61 percent from September. The monthly gain narrowed for a second consecutive month and marked the smallest increase recorded so far in 2026.

The figures show a market split between strong gains in northern Seoul and declines in some of the traditionally expensive southern districts. Nowon posted the largest increase among the districts listed, rising 1.52 percent. Jongno followed with a 1.32 percent gain, while Dobong rose 1.29 percent, Seongbuk 1.25 percent, Jungnang 1.14 percent and Dongdaemun 1.10 percent.

By contrast, apartment prices fell 0.33 percent in Gangnam and 0.04 percent in Seocho. The divergence suggests that price momentum has shifted toward relatively less expensive areas even as the overall Seoul index remains in positive territory.

Price growth elsewhere in the capital region outpaced Seoul in several locations. Apartment values in Gyeonggi Province rose 0.74 percent, while Incheon recorded a 0.08 percent increase. Within Gyeonggi, Hwaseong’s Dongtan area climbed 2.71 percent and Byeongjeom rose 2.42 percent. Gunpo gained 2.29 percent and Suwon’s Yeongtong district advanced 2.12 percent.

Not every part of Gyeonggi shared the rise. Icheon declined 0.84 percent, Anseong fell 0.45 percent and Dongducheon dropped 0.26 percent. Goyang’s Ilsanseo district and Hwaseong’s Manse area also moved lower.

Nationwide apartment sale prices increased 0.32 percent from the previous month. Jeonse prices, referring to Korea’s lump-sum deposit rental system, rose 0.22 percent nationally. In the capital region, jeonse prices gained 0.46 percent in Gyeonggi, 0.31 percent in Seoul and 0.24 percent in Incheon.

Market expectations also cooled. A nationwide sales-price outlook index based on a survey of more than 6,000 real estate agencies fell 1.5 points to 106.2. A reading above 100 means more respondents expect prices to rise over the next three months than fall.

Seoul’s outlook index dropped 3.6 points to 112.8, its lowest level in six months. The nationwide jeonse outlook slipped 0.7 point to 120.0, while Seoul’s reading fell 3.4 points to 128.7.

The KB Leading Apartment 50 Index, which tracks monthly changes among 50 high-value apartment complexes, declined 0.39 percent to 98.8. The index’s fall widened for a second straight month, adding to signs that the strongest segment of the market is losing momentum despite continued gains in the broader capital region.