President Lee Jae-myung's pressure on multi-homeowners has led to an increase in the supply of apartments for sale in Seoul. Recent data indicates that transactions are focused on apartments priced below 1.5 billion won, suggesting a shift in market dynamics amid tightening mortgage regulations. While the Gangnam area is seeing a buildup of unsold inventory, non-Gangnam districts are rapidly absorbing available listings, primarily driven by genuine demand.

According to the Ministry of Land, Infrastructure and Transport's real transaction disclosure system, the number of apartment transactions in Seoul reached 5,207 in January, marking a 55.6% increase from the same month the previous year. The substantial rise in housing supply contrasts with earlier analyses suggesting that potential buyers were unable to transact due to lending restrictions. This evolving landscape varies significantly by district; for instance, Gangnam experienced a 28.7% drop in land transaction permits, while districts with more affordable options, like Eunpyeong and Nowon, saw respective increases of 60.4% and 53.5%.

The recent increase in transaction volume is predominantly influenced by properties priced below 1.5 billion won, which accounted for 79.1% of all transactions in January. As the deadline for reporting sales draws near, the proportion of lower-priced transactions in February has exceeded 84.1%. This follows the government's regulatory measures that allow higher borrowing limits for homes priced below 1.5 billion won compared to those exceeding that threshold. Analysts note that the real estate market in Seoul is rapidly realigning to cater to genuine buyers amid stringent regulatory conditions, affecting both supply and demand.