Recently, the nominal housing price growth rate in Korea has been relatively stable compared to other countries. However, prices of high-priced houses in Seoul have risen sharply on a global scale. OECD and BIS data are based on the national average house price, so they may not fully reflect the price fluctuations of high-priced houses in areas like Gangnam in Seoul. In fact, according to the Knight Frank report, Seoul's high-priced housing prices rose by 25.2% year-on-year in the third quarter of last year, ranking second highest among 46 cities worldwide. This indicates that Seoul's housing market is becoming polarized, with a widening price gap between high-priced houses and general houses.
