Among the 25 districts in Seoul, 24 apartment prices fell, except Seocho-gu.

With the Bank of Korea taking the first "big step" in history, the real estate industry predicts that the real estate market will stagnate for a long time.
The Korea Real Estate Agency also explained, "As there are concerns about a big step increase in the benchmark interest rate, sales have stagnated and buying sentiment has shrunk, widening the overall decline in Seoul."

Apartment prices in Seoul, which have been on the decline since the last week of May, fell 0.03% for the past three consecutive weeks, and fell 0.04% this week.
Gangnam-gu, where apartment prices fell for the first time in four months last week, recorded the same rate (-0.01%) as the previous week.
In particular, Yongsan-gu, which had been flat for three consecutive weeks after shrinking apartment prices, fell 0.01% this week, turning to a decline in 16 weeks.
Among the 25 autonomous districts in Seoul, apartment prices in 24 districts, excluding Seocho-gu (0.03%), fell.

Apartment prices in Seoul have been falling for seven consecutive weeks, and Seocho-gu, where prices are still rising, draws attention. However, the rate of change is actually still insignificant at two decimal places. The huge decline is just an illusion as the change is converted into an actual price, the amount seems large.

Anyway, the real estate market is expected to stagnate for a long time due to the Bank of Korea's decision to take the first "big step" in history.