In April, Seoul's apartment auction bid success rate rose to 48.7%, marking a record high in five months and signaling a recovery trend in the auction market.
According to GGAuction on May 8, the number of Seoul apartment auctions in April was 152, down about 6% from 161 in the previous month, but the bid success rate climbed 5.2 percentage points from 43.5% to 48.7%. This is the highest level since 50.3% in Nov. last year.
The successful bid price ratio also came in at 100.5%, up 1.2 percentage points from 99.3% a month earlier, moving back above 100%.
Nationwide, the number of auctions increased about 8% to 3,409 from 3,167 the previous month. The bid success rate rose 0.8 percentage points to 35.7%, while the successful bid price ratio fell 0.3 percentage points to 87.0%.
In Seoul, as the number of auctioned properties decreased and the share of first-round sales increased, it appears to have led to a higher bid success rate. In particular, large apartment complexes with appraised values of 1.5 billion won or less showed strength in the successful bid price ratio.
By district, Gangdong District's successful bid price ratio was 105.5%, up 9.9 percentage points from a month earlier, and Guro District rose 7.2 percentage points to 99.6%.
As for individual cases, a hospital in Seocho-dong, Seocho District, was sold for 29.17889 billion won, 83.0% of its appraised value of 35.15514 billion won, and an apartment in Singil-dong, Yeongdeungpo District (exclusive area 84.9㎡) drew 29 bids and was sold for 1.2 billion won, 109.1% of its appraised value of 1.1 billion won.