South Korea Property Market One Year After 10·15 Measures

Why it matters

The persistent rise in housing prices despite multiple rounds of government intervention highlights the complexity of the South Korean real estate market. The shift of demand toward lower-priced areas suggests that regulatory constraints on high-end properties may be inadvertently driving up the cost of entry-level housing.

One year after the South Korean government introduced the 10·15 real estate measures to curb speculation, Seoul apartment prices have continued to climb. As of October 14, 2026, data indicates that the aggressive regulatory package, which included expanded land transaction permit zones and tighter loan restrictions, has struggled to stabilize the market as intended.

What happened with the 10·15 measures?

The government implemented a series of cooling measures beginning last year to address rising housing costs. Despite these efforts, the Korea Real Estate Board reported that Seoul apartment매매 (purchase) prices increased by 10.41% by the first week of October 2026 compared to the week following the policy announcement. Similarly, 전세 (charter) prices have risen by 9.96% over the same period.

Why this is trending in South Korea

The trend reflects public frustration and ongoing uncertainty among prospective homebuyers as regulatory measures have failed to lower market prices. Experts note that while the policies may have temporarily slowed price growth in some sectors, they have fueled a so-called balloon effect where demand shifts to more affordable regions, causing prices in those areas to rise.

What is confirmed and what is not

It is confirmed that the 10·15 measures included loan regulations, tax reforms, and the designation of speculative zones. However, the long-term effectiveness of the latest proposed property tax reforms, which are currently awaiting parliamentary review, remains to be seen. Whether these measures will eventually curb the persistent supply-demand imbalance in the Seoul metropolitan area is not confirmed.

Frequently asked questions

How much have Seoul apartment prices risen since the 10·15 measures?

According to the Korea Real Estate Board, Seoul apartment purchase prices increased by 10.41% in the year following the 10·15 measures, while charter (jeonse) prices rose by 9.96%.

Why are Seoul apartment prices still rising?

Experts suggest that despite regulatory efforts, persistent supply shortages and the tendency for demand to shift toward more affordable regions—a phenomenon known as the 'balloon effect'—have kept upward pressure on prices.

What were the main goals of the 10·15 real estate measures?

The measures aimed to curb speculative demand and stabilize the housing market by expanding land transaction permit zones, designating more speculative districts, and tightening loan and tax regulations.

Are real estate transactions increasing in South Korea?

No. National real estate transaction volume has been declining for five consecutive months, reaching its lowest level since January of the previous year due to interest rate burdens and loan restrictions.

What is the current status of the proposed property tax reforms?

The property tax reform package, introduced by the government on August 3, is currently pending review by the National Assembly.

Has the government achieved its goal of housing stability?

Market analysts indicate that while the measures may have temporarily slowed the speed of price increases, they have not achieved the goal of price stabilization, leaving many prospective homebuyers in a state of uncertainty.