Seoul: Housing prices fell in all regions of South Korea except Seoul and its surrounding metropolitan area in the first half of 2025, data showed Monday.
According to Yonhap News Agency, the average monthly housing sale price in the greater Seoul area rose by 0.1 percent during the first six months of the year compared to end-December, as per data compiled by the Bank of Korea (BOK). The growth was driven by surging home prices in Seoul and parts of the greater capital area, encouraged by easing financial conditions and expectations of further price increases under the new liberal government. To address this, the government introduced tighter lending regulations in late June.
Seoul, in particular, experienced a 0.39 percent increase in housing prices over the six-month period. In contrast, other regions witnessed a decline in housing prices amid an economic slowdown. The average monthly housing sale price in the country's southeastern regions fell by 0.11 percent compared to end-December, a decline that widened from a 0.08 percent drop recorded in the second half of 2024.
In the eastern province of Gangwon, the average monthly home price declined 0.1 percent, following a 0.02 percent decrease in the previous half. Prices in the central Chungcheong region also fell by 0.06 percent in the first half, with the decline widening from a 0.04 percent fall in the second half of 2024.
A BOK official commented, "The fall in housing prices in non-Seoul areas is attributable to the prolonged slump in the housing market, where unsold housing units have continued to accumulate amid domestic uncertainties." The official further noted that the housing price gap between the Seoul and non-Seoul regions has widened.