In the previous month, the average pre-sale price for the standard 84-square-meter layout of private apartments in Seoul exceeded 2.1 billion won for the first time. The national average also hit 727 million won, setting a new record high.
On June 8, Realhouse, a company specializing in pre-sale evaluations, said its analysis of Cheongyak Home data showed that in May the national 12-month moving average pre-sale price for 84 square meters in private apartments was 727.02 million won. That is 11.67 million won higher than the previous record high in March (715.35 million won), the highest since statistics began in 2021. It rose 2.23% from the previous month (711.17 million won) and 10.10% from the same month a year earlier (660.33 million won).
The rise in Seoul was particularly notable. The average pre-sale price for 84 square meters in Seoul was 2.13608 billion won, up 11.49% from the previous month (1.91585 billion won), surpassing the 2.1 billion won threshold for the first time. It increased by 220.22 million won in a month and by 32.13% from the same month a year earlier (1.61668 billion won).
Seoul's standard-layout pre-sale price entered the 1.9 billion won range for the first time in December, rising from 1.77724 billion won in November last year to 1.90493 billion won, and remained in the 1.9 billion won range through April this year. However, in May it broke through the 2.1 billion won threshold.
The rise in Seoul's pre-sale prices was largely driven by the supply of high-priced complexes. In May, "Summit The Hill" (432 households) and "ACRO Riversky" (285 households) supplied in Dongjak District posted pre-sale prices for 84 square meters in the 2.9 billion won and 2.7 billion won ranges, respectively, far above the Seoul average.
In May, the national average pre-sale price per square meter was 8.55 million won, up 1.18% from the previous month (8.45 million won). It surpassed the previous record high (8.54 million won) set in March and was up 10.46% from the same month a year earlier (7.74 million won).
In the greater Seoul area, Seoul recorded 24.22 million won per square meter, up 7.54% from the previous month, marking a record high. Incheon also rose 5.86% to 8.85 million won, surpassing the 8.8 million won threshold for the first time. The supply of large-scale complexes in Songdo International City is seen as driving the rise in Incheon's average pre-sale prices.