In February, the nationwide transaction volume in the real estate market increased by more than 30% compared to the previous month. The transaction amount surged by nearly 60%.
On the 15th, according to the analysis of actual transaction prices by Real Estate Planet, a commercial real estate technology corporation, the nationwide transaction volume in February was recorded at 86,033 transactions, and the transaction amount totaled 33 trillion 280 billion won. This reflects increases of 35.1% in transaction volume (from 63,682 transactions the previous month) and 58.3% in transaction amount (from 20 trillion 853.1 billion won). Compared to the same month last year, the transaction volume (78,384 transactions) increased by 9.8%, and the transaction amount (23 trillion 151.6 billion won) rose by 42.6%.
By type, all nine real estate categories showed increases in both transaction volume and transaction amount. The transaction volume for detached and multi-family dwellings and apartments rose by 46.2% compared to the previous month, marking the largest increase. The volume for row houses and multi-family properties increased by 36.8%, highlighting the strength in housing category transactions. Other increases included factories and warehouses (group) at 38.8%, officetels at 29.7%, factories and warehouses (general) at 29.4%, land at 24.7%, commercial and office buildings at 20.6%, and retail and office spaces at 17.5%.
In terms of transaction amount, retail and office spaces saw a significant increase of 104.5% compared to the previous month, while factories and warehouses (group) also rose by 101.7%. Detached and multi-family dwellings increased by 72.4%, apartments by 66.6%, commercial and office buildings by 66.4%, factories and warehouses (general) by 58.3%, row houses and multi-family properties by 34.7%, officetels by 28.3%, and land by 24.0%.
In February, the nationwide transaction volume for apartments was recorded at 38,127 transactions. This marks a 46.2% increase compared to the previous month (26,081 transactions). The transaction amount increased from 11 trillion 887.5 billion won to 19 trillion 807.8 billion won, reflecting a 66.6% rise. When compared to February 2024 (29,791 transactions, 11 trillion 470.8 billion won), the figures represent increases of 28.0% and 72.7%, respectively.
By province, it was confirmed that all 17 provinces experienced increases in both transaction volume and transaction amount compared to the previous month. The region with the largest increase in transaction volume was Seoul, which jumped from 3,205 transactions in January to 5,870 in February, a rise of 83.2%. It was followed by Gyeonggi (9,738 transactions, 55.2%), Incheon (2,120 transactions, 49.0%), Ulsan (1,177 transactions, 40.5%), and Daejeon (1,058 transactions, 39.6%).
In terms of transaction amount, Seoul recorded 8 trillion 369.9 billion won, representing an increase of 104.0% compared to the previous month (4 trillion 103.7 billion won), securing the top position. Following Seoul were Gyeonggi (5 trillion 314.7 billion won, 64.9%), Incheon (806.8 billion won, 48.8%), Jeonbuk (363.6 billion won, 40.4%), and Daejeon (347.6 billion won, 39.9%).
In February, the number of transactions for retail and office spaces amounted to 2,497, which is a 17.5% increase compared to January (2,125 transactions), while the transaction amount rose from 661.4 billion won to 1 trillion 352.6 billion won, marking a surge of 104.5%. Compared to February of the previous year (3,211 transactions, 980.5 billion won), the transaction amount increased by 38.0%, but the transaction volume decreased by 22.2%.
Jeong Su-min, CEO of Real Estate Planet, said, "In February, the nationwide real estate market saw active transactions in both commercial and revenue-generating properties as well as residential properties, with all types of transaction indicators increasing by double digits. However, except for apartments, the trends in transaction volume vary by region, and with various factors such as real estate policy trends and interest rate fluctuations at play, careful observation of market movements is necessary."