Apartment prices in Seoul have remained on an upward streak, with the median price surpassing 700 million won for the first time ever.

According to a monthly housing prices report released by Kookmin Bank on Friday, the median price of apartments in the capital in January hit 705 million won, up three percent or 20 million won compared to the end of last year.

The median price is the cost of a property ranked exactly in the middle of a range of properities.

The record figure comes only eight months after the median apartment price hit 600 million won last April. 

According to the report, the average sale price for Seoul apartments stands at 676 million won, or lower than the median price.