Last month, the average sale price of private apartments in Seoul was found to have slightly decreased compared to the previous month.
According to the Korea Housing & Urban Guarantee Corporation (HUG) report on private apartment sale price trends announced on the 18th, the average sale price per square meter (based on supply area) of private apartments nationwide for the past year was 5,972,000 won as of the end of July, which is a 1.31% increase compared to the previous month and a 5.11% increase compared to the same month last year.
The average sale price announced by HUG is the average sale price of private sale projects for which sale guarantee certificates were issued over the 12 months prior to the announcement, including the month of the announcement.
The average sale price in Seoul was 13,745,000 won per square meter, down 1.39% from the previous month, but up 3.23% from the same month last year. In the Greater Seoul area, the average price was 8,794,000 won, down 0.28% from the previous month, but up 4.81% from the same period last year.
The five major metropolitan cities and Sejong City (6,249,000 won) increased by 3.71% compared to the previous month, while other regions (4,705,000 won) saw an increase of 0.11%.
Converting the national average sale price as of the end of July to a unit of 3.3 square meters (1 pyeong), it is approximately 19,741,000 won. HUG explained that the increase in the national average sale price was influenced by the significant rise in the sale price per square meter in Busan, which reached 7,603,000 won due to the reflection of some high-priced complexes.
The average sale price per pyeong in Seoul as of the end of July is at a level of 45,359,000 won. The decrease in Seoul's sale price was analyzed to be influenced by significant reductions in supply both from the previous month and the same month last year.
Meanwhile, the volume of new private apartment sales nationwide was recorded at 12,186 units, an increase of 393 units compared to the previous month. In the Greater Seoul area, the number decreased to 4,126 units, a decrease of 1,281 units, while Seoul saw a decrease of 181 units, totaling 82 units.
The five major metropolitan cities and Sejong City had an increase of 1,278 units for a total of 3,923 units, and other regions showed an increase of 396 units for a total of 4,137 units.