Seoul Home Sale Price Gains Slow While Jeonse and Monthly Rents Rise

by Choi Daeyul

Published 15 Apr.2026 14:00(KST)

Korea Real Estate Board Releases March Housing Price Trend Survey

While the rate of increase in home sale prices in Seoul has been steadily declining, the rates for both jeonse (long-term lease) and monthly rent have been rising, according to recent data.

According to the nationwide housing price trend survey for March, released by Korea Real Estate Board on April 15, the comprehensive home sale price index for Seoul rose by 0.39% compared to the previous month. This marks a smaller increase than in January (0.91%) and February (0.66%) of this year. Last month’s growth rate is the lowest on a monthly basis since May of last year (0.38%).

The Korea Real Estate Board explained, “There has been an increase in listings, particularly in Seoul and the greater metropolitan area, resulting in transactions at lower prices. However, some areas where redevelopment is underway continue to see transactions at higher prices. Amid these mixed trends, the overall upward movement is being maintained.”

By housing type, the rate of increase for apartments slowed significantly. Last month, the apartment sale price index rose by 0.34%, about half the increase seen in the previous month (0.74%). In contrast, row houses (from 0.64% to 0.53%) and detached houses (from 0.32% to 0.35%) showed relatively smaller changes.

An apartment complex in Gangnam-gu, Seoul. Photo by Yonhap News Agency

On the other hand, the rate of increase in jeonse prices has grown. Last month, the comprehensive jeonse price index for Seoul homes rose by 0.46%, an increase of 0.11 percentage points from the previous month. After consistently narrowing since December of last year (0.53%), the rate of increase expanded again after three months. The districts of Seongbuk-gu (0.75%) and Nowon-gu (0.70%) saw especially notable rises.

The trend for monthly rents is similar to that of jeonse. Last month, the monthly rent price index rose by 0.51%, marking the largest monthly increase so far this year. In particular, the monthly rent price index in Nowon-gu soared by 0.99% in just one month, continuing its upward momentum. In Nowon-gu, the index rose by 0.78% in January, 0.87% in February, and cumulatively by 2.64% over three months. According to the Korea Real Estate Board, this increase was concentrated around subway station areas in Sanggye-dong and Junggye-dong. Seocho-gu also saw a rise of 0.74% from the previous month.