More non-Seoul residents invest in Seoul apartments, says report

Recent data suggests a notable trend, with one in four apartments traded in Seoul being purchased by individuals residing outside the city. This indicates a growing interest in the anticipated rise in apartment prices within Seoul, even among those living in areas beyond the city limits.

A comprehensive real estate market survey, based on apartment sale and purchase data compiled by the Korea Real Estate Board, reveals that out of 36,439 recorded apartment transactions, 8,955 were initiated by individuals residing outside Seoul. This accounts for a substantial 24.6 percent, marking the highest percentage since 2006 when these statistics were first recorded.

The surge in non-Seoul residents engaging in apartment transactions suggests a heightened awareness of the limited apartment supply in Seoul and a perception that the decline in housing prices is approaching its conclusion. “People living outside Seoul appear to be strongly motivated to invest in Seoul apartments, driven by the awareness of the city’s apartment supply shortage and the belief that the downward trend in housing prices is reaching its end,” said a researcher at the institute.


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