Seoul Apartment Prices Rise Further Even as Lee Hardens Resolve

Seoul apartment prices extended a rally that is testing the government’s efforts to curb speculative buying and sharpening President Lee Jae Myung’s criticism of those who own more than one home.

Prices in the capital climbed 0.27% in the week ended Feb. 2, according to data released Thursday by Korea Real Estate Board, marking the 53rd straight weekly increase. Gains slowed a tad from 0.31% in the previous week. The unbroken run of increases underscores how resilient demand has remained despite repeated government interventions and Lee’s warning, including his caution against extending favorable tax treatment for property sales.