Seoul’s housing relief depends on where you look

What happened: President Lee Jae Myung said transaction prices in key Seoul areas were falling "to a surprising degree," drawing skepticism, and later wrote on X that the government was considering buying homes in bulk for public rental housing if prices fell sharply. Key numbers: Korea Real Estate Board weekly index to Oct. Why it matters: Prices fell only in the three Gangnam districts while rising in Seoul's other 22 districts and Gyeonggi Province, and jeonse deposits climbed in the same week. Seoul Mayor Oh Se-hoon criticized Lee for preparing for a downturn while rental costs rise.

President Lee Jae Myung said transaction prices in key Seoul areas were falling "to a surprising degree," drawing skepticism, and later wrote on X that the government was considering buying homes in bulk for public rental housing if prices fell sharply.

Prices fell only in the three Gangnam districts while rising in Seoul's other 22 districts and Gyeonggi Province, and jeonse deposits climbed in the same week. Seoul Mayor Oh Se-hoon criticized Lee for preparing for a downturn while rental costs rise.