The pace of apartment price increases in Seoul has slowed for a fifth consecutive week, industry data showed Thursday, suggesting a cooldown in the housing market.
 
According to the Korea Real Estate Board’s national weekly price trend survey, as of July 28, apartment prices in Seoul rose zero-point-12 percent from the previous week.

That’s slightly down from the zero-point-16 percent rise recorded a week ago.
 
Although there has been an overall increase in transactions for redevelopment projects, the surge in Seoul has slowed, due in part to softening demand and people taking a wait-and-see approach to the real estate market.

While the Seoul districts of Mapo and Yongsan saw apartment prices increase by small margins of zero-point-11 percent and zero-point-17 percent, respectively, nearby Incheon saw a nominal decrease while the surrounding Gyeonggi Province saw a nominal increase. 

Apartment sale prices and jeonse prices across the country also both rose zero-point-01 percent, maintaining the same gains as last week.