In January, the count of applications for land transaction permits to purchase apartments in designated areas in Seoul saw a significant increase of 34% compared to December. This rise in applications, amounting to 6,450, represents a consistent upward trend, with a total of over 16,000 applications made since the designation of the entire Seoul area as a land transaction permit zone in October last year. Notably, 79.8% of these applications have been processed, indicating a robust engagement in the property market despite fluctuations in price growth rates.

However, the application prices increased by only 1.8% in January, a slight decline from the previous month's increase of 2.31%. The areas with the highest price growth include the affluent Gangnam district, where the increase reached 2.78%, and the Han River Belt comprising seven districts, which also surpassed the city average with a 1.87% rise. In contrast, suburban districts experienced lower increases in property prices, suggesting a shift in buyer interest and potentially hinting at a cooling market among high-value apartment segments.

The report released by the Korea Real Estate Agency indicated that the overall trading price index of Seoul apartments rose by 0.35% compared to December and 13.49% year-on-year, signaling persistent demand in the housing market. While smaller apartments showed the highest increase, larger units faced a price drop, illustrating diverse market dynamics within the housing segments. Additionally, the index for lease pricing also saw rises, emphasizing the ongoing challenges in housing affordability for many residents in Seoul, evident from an annual lease price increase of 5.6% last year, the highest in five years.