Seoul Apartment Prices Surged 11% in First Year of Administration, Breaking Record

Apartment prices in Seoul rose by 11% during the first year of the Lee Jae-myung administration, data showed.

According to the cumulative fluctuation rate of Seoul apartment sales prices by administration submitted by the Ministry of Land, Infrastructure and Transport to People Power Party lawmaker Kang Dae-shik's office on the 26th, the surge in apartment prices during the early term of the Lee Jae-myung administration between 2025 and 2026 was the largest among all past administrations.

The Moon Jae-in administration followed with an 8.2% increase from 2017 to 2018, and the Lee Myung-bak administration recorded a 5.4% increase from 2008 to 2009.

Conversely, apartment prices fell during the first year of other administrations, dropping 0.4% under the Park Geun-hye administration from 2013 to 2014, 1.3% under the Roh Moo-hyun administration from 2003 to 2004, and 11.2% under the Yoon Suk Yeol administration from 2022 to 2023.

The Ministry of Land, Infrastructure and Transport estimated these government-by-government apartment price growth rates using housing price trend survey indicators from the Korea Real Estate Board, which have been conducted since December 2003.

Even when expanding the scope to the greater Seoul metropolitan area, including Gyeonggi Province and Incheon, the Lee Jae-myung administration recorded the highest apartment price increase rate in its early term at 5.5%.

The Lee Myung-bak administration followed at 5%, the Moon Jae-in administration at 4.1%, and the Park Geun-hye administration at 0.1%, while the Roh Moo-hyun and Yoon Suk Yeol administrations saw declines.

Regarding the cumulative fluctuation rates of apartment sales prices across entire presidential terms, the Roh Moo-hyun administration recorded the highest increase at 42.99%, followed by the Moon Jae-in administration at 26.36% and the Park Geun-hye administration at 11.91%.

In contrast, the Lee Myung-bak administration dropped by 1.77% and the Yoon Suk Yeol administration fell by 4.02%, showing lower fluctuation rates.

Looking at real estate policy announcement statistics by past administration, the Moon Jae-in administration issued the most with 16 cases.

This was followed by the Roh Moo-hyun and Lee Myung-bak administrations with 9 cases each, the Yoon Suk Yeol administration with 8 cases, and the Park Geun-hye administration with 7 cases.

Under the Lee Jae-myung administration, which has surpassed its first year in power, three real estate policies have been announced to date.

(Reported by Kim Jiuk | Video by Lee Dain | Graphics by Lee Jeong-ju | Produced by SBS Digital News)
※ Please note: This article was translated by AI and may contain errors.