Woori Bank analysis finds apartment resale declines across Seoul’s Gangnam-area districts
An analysis reported on November 6 by Ham Young-jin, head of Woori Bank’s real estate research lab, identified 16 apartment transactions in Seoul’s Gangnam, Seocho and Songpa districts priced at least 5% below the preceding sale of the same size in the same complex between October 29 and November 4. Songpa accounted for eight cases, Gangnam six and Seocho two. Ham said declines extending to smaller apartments indicated price-adjustment pressure, but whether this represented temporary distressed sales or a broader downturn remained uncertain.