Last month, the sale price per square meter of private apartments in Seoul exceeded 20 million won for the first time.
On the 5th, according to an analysis by Real House, a specialized company in sale evaluations, the sale price per square meter (based on exclusive area) of apartments in Seoul for August was recorded at 20.07 million won, surpassing 20 million won for the first time.
The sale price of apartments in Seoul increased by 2.87% compared to July and by 8.34% compared to the same period last year.
Looking at the sale price per unit area (㎡) of apartments in Seoul, it was at the level of 12.58 million won in August 2021, but fell slightly to 12.50 million won in August 2022 due to the dampening effect of COVID-19 on the sales market. Following that, it began to recover, recording 14.30 million won in August 2023, which is an increase of 14.33% in one year. The price surged further, reaching 18.52 million won in August 2024 (an increase of 29.57%).
When converting the unit price to the national housing size of 84㎡, the sale price of apartments in Seoul approaches 1.68588 billion won, nearly reaching 1.7 billion won.
Looking at the sale prices per square meter by region, the national average price is 7.75 million won, which is a decrease of 1.75% compared to the previous month. In Gyeonggi (9.65 million won -> 9.86 million won), Busan (10.15 million won -> 10.28 million won), and Gangwon (5.56 million won -> 5.60 million won), the sale prices increased slightly, while in Incheon (7.84 million won -> 7.67 million won) and Jeju (10.49 million won -> 7.01 million won), the sale prices fell.