Sub-600 million won apartments reach 21.9% of Seoul sales in first three quarters
In short
Apartments priced under 600 million won made up 21.9% of Seoul apartment sales in January-September 2026, up 5.0 percentage points from 16.9% a year earlier, according to an analysis by the property platform Dabang. Nowon district had the largest share of those sales at 24.3%. In Gyeonggi Province, the share of sales at 600 million won or more rose to 40.0%.
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Apartments priced under 600 million won made up 21.9% of Seoul apartment sales in the first three quarters of 2026, according to an analysis released on 20 October by the property information platform Dabang (다방). The figure is 5.0 percentage points above the 16.9% recorded in the same period last year. Newsis and Maeil Business described it as one in five sales. [ 1 , 2 , 3 , 4 ]
Dabang based the analysis on Ministry of Land, Infrastructure and Transport transaction prices for apartment sales in Seoul and Gyeonggi Province in 2025 and 2026. By quarter, the Seoul share was 21.3% in the first quarter, 20.5% in the second and 25.4% in the third. Those were increases of 6.8, 3.0 and 6.5 percentage points on the same quarters a year earlier, making three straight quarters of year-on-year rises, Dong-A Ilbo and Maeil Business reported. [ 1 , 2 , 3 , 4 ]
Among Seoul's 25 districts, Nowon accounted for 24.3% of sub-600-million-won sales, the largest share, followed by Dobong (12.3%) and Guro (9.3%). Newsis and Maeil Business reported that the combined share of Nowon and Dobong rose from 30.0% last year to 36.6%. [ 1 , 3 ]
Gyeonggi Province moved the other way. Sales at 600 million won or more were 40.0% of its apartment sales in the first three quarters, up 1.3 percentage points. Newsis gave quarterly shares of 38.8% in the first quarter, 43.8% in the second and 36.3% in the third, the last down from 39.6% a year earlier. Yongin had 15.2% of the province's sales at that level and Hwaseong 13.1%. Newsis and Yonhap said Hwaseong's share rose 5.1 points, and both gave rises for Namyangju (3.8% to 6.1%) and Guri (2.0% to 4.1%). [ 1 , 3 , 4 ]
The outlets offered explanations. Newsis and Maeil Business said demand rose for homes that can be bought with policy loans amid a rental housing shortage. Dong-A Ilbo said 600 million won is generally seen as the upper price limit for policy-loan purchases, and is the limit for Bogeumjari and Didimdol loans (the latter for newlyweds and households with two or more children), and that buyers appeared to be turning to cheaper homes as Seoul prices firmed. Yonhap said all of Seoul is a regulated area and mortgage limits of 200 million to 600 million won apply by price band, which it said drew first-time buyers and other end users to lower-priced homes. [ 1 , 2 , 3 , 4 ]
A Dabang official, quoted by Newsis, said Seoul saw a higher share of sales under 600 million won while Gyeonggi saw a higher share at 600 million won or more, so the two moved differently. [ 1 ]
Why it matters
The outlets read the figures as a sign that buyers in Seoul are moving toward lower-priced homes that policy loans can cover, while Gyeonggi showed the opposite pattern. The documents give the data only for the first three quarters of 2026 and the same period of 2025.
Key facts
- Dabang analysed Ministry of Land, Infrastructure and Transport transaction price data for Seoul and Gyeonggi apartment sales in the first three quarters of 2025 and 2026. [ 1 , 3 , 4 ]
- Apartments under 600 million won were 21.9% of Seoul apartment sales in January-September 2026, against 16.9% a year earlier, a rise of 5.0 percentage points. [ 1 , 2 , 3 , 4 ]
- By quarter, the Seoul share was 21.3% in the first quarter, 20.5% in the second and 25.4% in the third, up 6.8, 3.0 and 6.5 percentage points on a year earlier. [ 1 , 2 , 3 , 4 ]
- Nowon had 24.3% of Seoul's sub-600-million-won sales, followed by Dobong (12.3%) and Guro (9.3%). [ 1 , 2 , 3 , 4 ]
- The combined share of Nowon and Dobong rose from 30.0% to 36.6%. [ 1 , 3 ]
- In Gyeonggi Province, sales at 600 million won or more were 40.0% of apartment sales in the first three quarters, up 1.3 percentage points from a year earlier. [ 1 , 3 , 4 ]
- Yongin had 15.2% of Gyeonggi's sales at 600 million won or more and Hwaseong 13.1%. [ 1 , 3 , 4 ]
Confirmed by several sources
- Seoul's share of apartment sales under 600 million won was 21.9% in January-September 2026, up 5.0 percentage points from 16.9% a year earlier. [ 1 , 2 , 3 , 4 ]
- The Seoul share was higher than a year earlier in all three quarters of 2026. [ 1 , 2 , 3 , 4 ]
- Nowon, Dobong and Guro had the largest shares of Seoul's sub-600-million-won sales, at 24.3%, 12.3% and 9.3%. [ 1 , 2 , 3 , 4 ]
- Gyeonggi's share of sales at 600 million won or more rose 1.3 percentage points to 40.0%, with Yongin (15.2%) and Hwaseong (13.1%) the largest. [ 1 , 3 , 4 ]
Still unclear
- Why the share of lower-priced sales rose in Seoul The outlets give explanations as interpretation, not as findings of the analysis: Newsis and Maeil Business point to demand for policy-loan-eligible homes amid a rental housing shortage, Dong-A Ilbo to firm Seoul prices pushing buyers to cheaper homes, and Yonhap to Seoul-wide regulation and tiered mortgage limits.
- Quarterly and city-level details for Gyeonggi Only some outlets give them: Newsis reports Gyeonggi shares of 38.8%, 43.8% and 36.3% for the three quarters, with the third quarter down 3.3 percentage points, while Yonhap alone says Gyeonggi prices rose sharply mainly in the south this year.