This year, the official prices for apartments and multi-unit housing across South Korea increased by an average of 9.16% compared to last year, with Seoul experiencing a much higher rate of 18.67%. According to the Ministry of Land, Infrastructure, and Transport, this significant increase in Seoul's housing prices is indicative of a widening disparity between the capital and other regions, as eight cities and provinces, including Daegu and Gwangju, saw decreases in their housing prices. The contrast in trends illustrates a pronounced polarization in the housing market between metropolitan and provincial areas.

In Seoul, the districts known as the 'Gangnam Three' (Gangnam, Seocho, and Songpa) and areas adjacent to the Han River registered particularly steep increases in property values. The Gangnam area recorded an exceptional rise, with price increases of 26.05% in Gangnam, 22.07% in Seocho, and 25.49% in Songpa. Other districts that are part of the Han River belt also saw significant gains, with price hikes ranging from 21.36% to 29.04% in districts such as Seongdong and Yangcheon. No district in Seoul reported a decrease in property value, highlighting the ongoing demand and rising costs in these desirable areas.

The official housing price data, effective as of January 1, was released on the 17th, allowing public access to the information from the 18th to March 6. This increase follows a consistent application of a 69% ratio for market value realization, as part of the government's efforts to adjust real estate price assessments. As a result, property owners in the affluent districts are expected to face significantly higher property taxes this year, which could have broader implications for the affordability and accessibility of housing in the capital over the long term.