In the Seoul apartment market, the average sale price of mid-size units (exclusive area 85–102㎡ or less) was found to be about 200 million won higher than larger mid-size units (exclusive area 102–135㎡ or less). As the burden of Seoul apartment prices grows and two- to three-person households increase, the preference for mid-size units is becoming more pronounced.
According to November statistics released by KB Real Estate on the 30th, the average sale price of mid-size apartments in Seoul was tallied at 2.2047 billion won. Compared with the larger mid-size average (2.0407 billion won), it is about 200 million won higher.
The price reversal appears to be influenced by changes in population and household structure. The share of large families, which were the main demand group for larger mid-size units in the past, has declined, and the number of two- to three-person households with fewer children even after marriage has increased, boosting demand for mid-size units.
Recently supplied new apartments can improve space efficiency with features such as balcony extensions, pantries, and dressing rooms. As a result, when viewed in terms of usable area, the perceived usable difference between the same mid-size and larger mid-size units is seen as minimal, which appears to be increasing demand for mid-size apartments with a lighter price burden.
However, there were regional differences within Seoul. In the 14 districts north of the Han River, the average sale price of larger mid-size units was 1.40246 billion won, still higher than mid-size units (1.29725 billion won). In contrast, in the 11 districts south of the river, mid-size units averaged 2.62906 billion won, higher than the larger mid-size average of 2.42905 billion won.
Large apartments over an exclusive area of 135㎡ averaged 3.6283 billion won, forming a different price tier from mid-size and larger mid-size units and showing an independent market trend.
Because transactions are centered on high-asset individuals, the industry says they move separately from the price reversal occurring between mid-size and larger mid-size units.