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A view of an apartment cluster in Seoul. / Source: Yonhap News

Following the government’s introduction of stringent real estate loan regulations, high-priced apartment transactions in Seoul have plunged more than 70% compared to the two weeks prior, according to data released on July 14.

Real estate platform Zigbang analyzed transaction data from the Ministry of Land, Infrastructure and Transport and found that in the two weeks following the government's June 27 property policy announcement, the number of top-priced apartment deals in Seoul dropped to 300, down 74% from 1,141 transactions in the two weeks before (June 13–26). The share of high-priced deals also shrank to 22.9% during the same period.

In Seongdong District, which recorded the highest number of high-priced deals (139) in the two weeks before the announcement, the figure plummeted to 22 deals afterward—a drop of 84%. In Mapo District, such transactions fell by roughly 87% to just 18.

Gangdong District also saw a decline of 80%, from 114 to 23 transactions, while Gangnam District’s figures fell 63% to 41 deals. Other districts experienced similar drops: Dongjak (85→15), Yeongdeungpo (82→18), Gwangjin (50→16), Gangseo (34→16), and Dongdaemun (30→4).

A Zigbang official noted, “It’s too early to draw conclusions about the market based solely on transaction volume, but the overall mood in Seoul and the capital region’s housing market has clearly shifted toward a wait-and-see approach.” The official added that demand in heavily regulated areas such as Gangnam or redevelopment zones may partially shift toward less restricted districts.