The average price of apartments in the nation has declined for the first time in nearly two and a half years. 

According to Korea Real Estate Board on Thursday, the average price of apartment units nationwide dipped zero-point-01 percent this week from last week, marking the first fall since the second week of September in 2019. 

The average apartment price in Seoul slid by zero-point-02 percent for the second week in a row, while the prices in Gyeonggi Province and Incheon dropped by zero-point-03 percent and zero-point-02 percent, respectively. All 25 districts in the capital city, including those in the affluent areas of Gangnam, saw a downturn in prices. 

As for apartments in areas outside the capital region, their average price remained unchanged from last week, halting a 21-month climb.

Prices contracted largely on tighter restrictions on mortgage loans and series of key interest rate hikes, as well as a wait-and-see attitude by some potential buyers ahead of the presidential election.