Last month, the sale price per 3.3 square meters of apartments in Seoul exceeded 47.2 million won, marking a 38% surge in one year.
According to the private apartment sale price trends published on Nov. 16 by the Korea Housing and Urban Guarantee Corporation (HUG), the average sale price per square meter (based on supply area) for private apartments in Seoul over the past year was 14.28 million won. This represents an increase of 0.54% compared to the previous month (14.203 million won) and a rise of 38.01% from the same month last year (10.347 million won).
When viewed on a basis of 3.3 square meters, the sale price of apartments in Seoul was 47.207 million won, up 255,000 won from the previous month (46.952 million won). The sale price of private apartments in Seoul surpassed 47 million won last month, setting a record high. The monthly average sale price published by HUG refers to the average sale price of private sale establishments for which sale guarantees were issued over the preceding 12 months.
Looking at the sale price of Seoul apartments per 3.3 square meters by area, the prices were ▲ 4.5309 million won for areas below 60 square meters ▲ 4.9352 million won for areas above 60 square meters to below 85 square meters ▲ 5.441 million won for areas above 85 square meters to below 102 square meters ▲ 5.6823 million won for areas above 102 square meters, indicating that larger areas had higher sale prices.
In the metropolitan area, the sale price per 3.3 square meters was 29.061 million won, a decrease of 0.20% compared to the previous month. However, compared to the same month last year, this represents an increase of 20.43%. The average sale prices per 3.3 square meters in Incheon and Gyeonggi Province were 18.641 million won and 21.336 million won, respectively, about half of Seoul's average sale price.
In the case of the five major metropolitan cities and Sejong City, the price was 19.726 million won per 3.3 square meters, an increase of 0.78% from the previous month. Moreover, other regions saw an increase of 0.06%, with the price at 14.932 million won per 3.3 square meters. Compared to the same month last year, the sale prices in these regions increased by 16.31% and 2.00%, respectively.
The average sale price per 3.3 square meters for private apartments nationwide was 19.078 million won, up 0.22% from the previous month and 11.36% from the same month last year.
Meanwhile, in November, the total number of newly launched private apartments nationwide was 13,217 units, a decline of 29% compared to the same month last year (18,728 units). By region, 9,736 units were launched in the metropolitan area, 1,616 units in the five major metropolitan cities and Sejong City, and 2,225 units in other regions.