Recent trends indicate a divergence in the jeonse prices across Seoul, with the Songpa district exhibiting a downward trend in rental prices, whilst the Nowon district experiences a rise in demand and price. As of last week, the jeonse prices in Songpa decreased by 0.13%, marking the fourth consecutive week of decline. This decline is noteworthy as Songpa is the only district in Seoul where rental prices have dropped, in contrast to the adjacent districts of Gangnam and Seocho, which show stabilization or slight increases in rental prices. The slump in Songpa can be attributed to an influx of newly constructed apartments in the Jamsil area, increasing availability, while the overall demand for homes appears to be decreasing.