Incheon Home Sale Prices Turn Downward in August… Jeonse and Monthly Rents Keep Rising

Incheon’s housing sales market turned downward in August. The rental market, by contrast, continued its upward trend as leasing demand held steady.

[코리안투데이] Incheon City 2026 August Real Estate Market Trends Report © 장형임 기자

The Incheon Metropolitan Government (Mayor Park Chan-dae) announced the findings in its 2026 August Real Estate Market Trends Report, based on an analysis of property statistics from the Korea Real Estate Board.

According to the report, the rate of change in Incheon’s home sale price index in August reversed to –0.03% from 0.02% the previous month. By district, Yeonsu-gu (0.15%), Geomdan-gu (0.10%), Yeongjong-gu (0.06%) and Jemulpo-gu (0.02%) posted gains, while Gyeyang-gu (-0.01%), Bupyeong-gu (-0.02%), Seohae-gu (-0.09%), Namdong-gu (-0.13%) and Michuhol-gu (-0.18%) declined. With the price correction concentrated in areas such as Michuhol, Namdong and Seohae, the gap between districts became more pronounced.

The rental market saw its gains widen. In August, the rate of change in the jeonse price index rose to 0.41% from 0.27% the previous month. Increases were led by Seohae-gu (0.67%), followed by Yeonsu-gu (0.66%), Yeongjong-gu (0.61%), Gyeyang-gu (0.51%), Bupyeong-gu (0.50%), Namdong-gu (0.31%), Jemulpo-gu (0.22%), Geomdan-gu (0.16%) and Michuhol-gu (0.11%). The combined monthly rent price index also edged up to 0.38% from 0.37% the previous month, sustaining its upward trend, with every district rising in the order of Bupyeong-gu (0.65%), Geomdan-gu (0.49%), Jemulpo-gu (0.47%), Seohae-gu (0.40%), Yeonsu-gu (0.38%), Yeongjong-gu (0.33%), Namdong-gu (0.28%), Gyeyang-gu (0.24%) and Michuhol-gu (0.21%). As demand to rent rather than buy persists, the housing cost burden on end users is expected to continue for the time being.

Transaction volumes fell in both sales and rentals. Home sale transactions in July totaled 3,706, down 8.9% from 4,067 the previous month. By district, Yeonsu-gu recorded the most at 605, followed by Bupyeong-gu (600), Namdong-gu (521), Seohae-gu (469), Michuhol-gu (423), Geomdan-gu (387), Gyeyang-gu (374), Yeongjong-gu (122), Jemulpo-gu (116), Ganghwa-gun (84) and Ongjin-gun (5). Housing jeonse and monthly rent transactions also came to 12,150 in July, down 2.3% from 12,439 the previous month.

Lee Won-ju, director-general of the city’s Urban Planning Bureau, said, In August the sale price index declined mainly in Michuhol, Namdong and Seohae, while the jeonse and monthly rent indexes continued to rise as leasing demand held steady, centered on major complexes in areas such as Yeonsu and Bupyeong.

Meanwhile, the Incheon Metropolitan Government operates an Incheon Real Estate Market Trends service within the generative artificial intelligence tool ChatGPT so that residents can grasp local real estate market movements more easily and conveniently. Through it, the service provides real-time, customized conversations covering not only district-level rates of change and transaction volumes for home sales, jeonse and monthly rent, but also actual transaction prices for apartment sales, jeonse, monthly rent, new-home sales and occupancy rights. Those who wish to use it can enter ‘Incheon Real Estate Market Trends (2026)’ in the plugin GPT search bar of the ChatGPT app.

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