As of last month, the nationwide average pre-sale price of private apartments per 3.3 square meters (pyeong) topped 20 million won for the first time.
According to the trend of private apartment pre-sale prices from the Korea Housing & Urban Guarantee Corporation (HUG) on the 17th, the average pre-sale price per unit area (square meter) of private apartments newly offered nationwide over the past year stood at 6,052,000 won as of the end of Oct. It rose 2.47% from the previous month and 5.09% from the same period a year earlier.
Converting the average pre-sale price to 3.3 square meters, it is 20,006,000 won. This is the first time that the nationwide private apartment pre-sale price has entered the 20 million won range.
The monthly average pre-sale price calculated by HUG is the average pre-sale price of private pre-sale projects for which pre-sale guarantees were issued during the 12 months up to and including the reference month.
The nationwide average pre-sale price increase appears to be due to a series of offerings in the Seoul metropolitan area of complexes with high pre-sale prices. Seoul's average pre-sale price per square meter was 14,226,000 won, up 3.25% from the previous month. It rose 0.17% from a year earlier. Converted to 3.3 square meters, Seoul's average pre-sale price is 470.3 million won.
In particular, in Seoul, Banpo Raemian Triniwon in Seocho District was subject to the pre-sale price cap, but the pre-sale price for an exclusive 84 square meters reached 2.637 billion–2.749 billion won. Hillsstate Isu Station Central in Dongjak District set general pre-sale prices, based on the highest price by dwelling type, at 1.0685 billion–2.2785 billion won.
The overall average for the metropolitan area was 9,143,000 won per square meter, up 4.89% from the previous month and 3.80% from the same period last year. In Gyeonggi Province, high-priced complexes such as The Sharp Bundang Tier One in Bundang District, Seongnam, and Hillsstate Gwangmyeong in Gwangmyeong also appeared, which, along with Seoul, are seen as having pushed up the overall price.
Pre-sale prices in the five major metropolitan cities and Sejong City were 7,658,000 won per square meter. That was up 1.60% from the previous month and a hefty 11.16% compared with the same month last year. By contrast, other regions (4,274,000 won) rose 1.46% from the previous month but fell 5.32% from a year earlier.
In Oct., the nationwide supply of newly pre-sold private apartments was 16,443 units, up 2,104 units from the previous month.