Last month, the transaction volume of apartments in Seoul and Sejong more than doubled compared to January.
On the 16th, Zigbang analyzed the actual transaction prices of the apartment sales market for the first quarter, finding that both the transaction volume and total transaction value of apartments nationwide have increased for three consecutive months, with the transaction volume in March approximately 70% higher than in January.
The nationwide apartment sales transaction volume rose consecutively for three months, from 26,050 cases in January 2025 to 38,252 in February and 44,181 in March. The total transaction value also steadily expanded from 11.8773 trillion won in January to 20.3028 trillion won in February and 23.2192 trillion won in March. Compared to January, the transaction volume increased by about 1.7 times, while the total transaction value nearly doubled.
In March, the transaction volume of apartments in the metropolitan area totaled 21,828 cases, with a transaction value of 17.1997 trillion won. Among them, Seoul recorded a total of 7,369 transactions, and the total transaction value was 9.4947 trillion won, resulting in increases of 2.3 times in both transaction volume and transaction value compared to January. The discussions on the easing of the land transaction permit system since January and expectations for interest rate cuts seem to have altered market sentiment, leading to actual transactions and supporting a recovery trend, Zigbang noted.
In the Seoul apartment market in March, Gangnam-gu recorded the highest transaction volume among districts with 589 transactions. Following were Gangdong-gu (518), Seongdong-gu (491), Nowon-gu (470), Songpa-gu (452), Yeongdeungpo-gu (445), Dongjak-gu (442), and Mapo-gu (421) in terms of active transactions.
Zigbang explained that Gangnam has consistently seen high-priced apartment transactions due to its scarce locations, academic districts, and infrastructure. Seongdong-gu and Mapo-gu maintained stable transaction flows in March, continuing from February, supported by excellent views of the Han River and proximity to the city center.
After the easing of the land transaction permit area, Songpa-gu saw a significant increase in transactions, focusing on the Jamsil area, which hosts large complexes. Nowon-gu maintains steady transactions due to its characteristics of having a high proportion of mid- to low-priced apartments. Dongjak-gu's transactions increased around regions with development potential, such as the branded complexes in Sangdo-dong and remodeling expectations in Sadang-dong.
In March, the total transaction value in Gangnam-gu was 1.5058 trillion won, the highest among individual districts, followed by Songpa-gu (786.3 billion won) and Seongdong-gu (732.4 billion won).
Following Seoul, both the Gyeonggi and Incheon apartment markets saw increases in transaction volume and total transaction value in March. The cities with the highest transaction volumes were Hwaseong (939 transactions), Yongin Suji-gu (663), and Seongnam Bundang-gu (572). In terms of total transaction value, Seongnam Bundang-gu topped the list with approximately 763.6 billion won, followed by Yongin Suji-gu (524.9 billion won) and Hwaseong (514.0 billion won).
In Incheon, Seo-gu had the highest transaction volume in March with 536 transactions, followed by Namdong-gu (491) and Yeonsu-gu (406). The total transaction values were highest in Seo-gu (233.6 billion won), followed by Yeonsu-gu (227.5 billion won) and Namdong-gu (180.4 billion won).
In March, the transaction volume in the provinces was 22,353 cases, a rise of about 47% compared to January, while the total transaction value was 6 trillion won, a 50% increase over the same period. Sejong City experienced the largest increase in transactions, with March's volume at 687 cases, which is 2.6 times higher than January (266 cases), and the total transaction value at 351 billion won, representing a 2.8 times increase. Zigbang explained that following price adjustments, the influence of low-priced listings being cleared, alongside expectations for the establishment of the presidential office in Sejong, seem to have stimulated market sentiment.
A Zigbang official noted, "The combination of price adjustments that have continued since late last year, expectations for interest rate cuts, and some regulatory relaxations have likely led the previously cautious demand to begin moving in the first quarter," adding, "Transactions were active mainly in high-priced units in Gangnam and other popular areas, where demand with financial capacity moved first, clearly preferring high-priced apartments reflecting location premiums. Following that, transactions continued in regions with high demand for actual users or residential areas with excellent access to the city center. "
The official further stated, "As we entered early April, the market is showing signs of catching its breath, so it is necessary to monitor the flow for the second quarter more closely," adding, "With the presidential election in June still uncertain in terms of policy direction, alongside global economic slowdown and domestic economic conditions acting as burdens on the market."