In the court auction market, the successful bid price ratio of Seoul apartments (the ratio of the winning bid to the appraised value) exceeded 100% for the second straight month.
According to the November auction trend report by GGAuction, a company specializing in public auction data, on the 4th, the successful bid price ratio for Seoul apartments was 101.4%, down 0.9 percentage points (p) from October (102.3%). Still, the ratio has been above 100% for two consecutive months.
By district, the successful bid price ratio for apartments exceeded 100% in a total of 11 districts, including Gangdong-gu (122.5%), Dongjak-gu (119.1%), and Songpa-gu (118.9%).
The successful bid rate for Seoul apartments (the ratio of successful bids to the number of auctions held) was 50.3%, up more than 10 percentage points from the previous month (39.6%).
In contrast, the number of Seoul apartment auctions held was 153, the lowest in two years and six months since May 2023 (145). The average number of bidders also fell to 7.3 from 7.6 in October.
The number of apartment auctions held nationwide was 3,136, increasing from October (2,964) and surpassing 3,000 again in two months.
The successful bid rate was 39.8%, up 4.2 percentage points from October (35.6%). In contrast, the successful bid price ratio was 86.6%, down 1.0 percentage point from the previous month (87.6%), turning downward for the first time in four months.
The average number of bidders was 7.0, the lowest since January this year (6.6), it was found.