Seoul City has seen its largest population drop in five years this year amid soaring housing prices in the capital city.

According to data compiled by the Ministry of Interior and Safety and provided to People Power Party Rep. Tae Young-ho, Seoul had a population of just over nine-point-56 million as of June.

The figure represents a drop of 154-thousand-856, or one-point-59 percent from a year earlier. It is the largest annual drop in five years.

The data do not include foreign residents.

Rep. Tae said that while the population drop of the city is not new, the sharp decline this year is attributed to soaring home prices and the economic recession.