Recent data indicates a significant slowdown in the price rise of high-end apartments in Seoul. According to a report from KB Kookmin Bank, the average transaction price for the top 20% of apartments in February was approximately 3.47 billion KRW, marking a mere increase of 5.27 million KRW from January. This change is a stark contrast to the 27.44 million KRW increase seen in January and falls below one-tenth of the average monthly increase of 59.96 million KRW observed from February of last year to this February.

This decline in price increase follows a trend that has persisted since March 2024, where price surges often reached several tens of millions KRW. Notably, during the market peak around the government transition in June of last year, prices in the top bracket surged by over 134.77 million KRW within a month. Given the current statistical evidence, the reported price increase of less than 10 million KRW in February strongly signals a downward trend in high-end apartment prices.

Furthermore, recent surveys from the Korea Real Estate Agency show a consecutive drop in average apartment prices in key districts like Gangnam, Seocho, and Songpa, as well as Yongsan. In particular, the latest KB statistics reflect a downturn in Gangnam apartments, indicating a shift in market dynamics that could lead to a notable fall in the average prices of high-end apartments moving forward, especially as the March statistics are expected to integrate more recent data showing this decline.