The rise in Seoul apartment prices has slowed for the first time in nine weeks.

According to the Korea Real Estate Board on Thursday, apartment sale prices in Seoul rose by zero-point-four percent for the June 24-30 period compared with a week prior, marking 22 consecutive weeks of growth. 

However, the rate was slightly lower than the zero-point-43 percent increase recorded the week prior.

The slowdown comes amid the government’s new lending restrictions introduced on June 28, including a cap on mortgage loans of 600 million won, or around 440-thousand U.S. dollars. 

Gangnam and other key districts along the Han River saw the most notable slowdowns, though some areas still posted sharp increases, such as Yangcheon District, which saw a zero-point-six percent rise, the largest since December 2019, driven by redevelopment demand.

The full impact of the new measures remains uncertain, as they were only in effect for part of the latest survey period.