The average pre-sale price for 59㎡ exclusive area units in private apartments in Seoul has surpassed 1.5 billion won. It jumped by nearly 27% from the same period a year earlier, widening the gap to about three times the national average.
On the 10th, Real House, a firm specializing in pre-sale evaluations, analyzed data from Korea Real Estate Board (REB)'s Cheongyak Home and found that as of last month, the average pre-sale price over the past 12 months for 59㎡ exclusive private apartments nationwide was tallied at 530.72 million won.
Seoul's average pre-sale price for 59㎡ exclusive units was 1.56257 billion won, the highest in the country. That is 2.9 times the national average. It rose 3.9% from a month earlier and increased 26.7% from the same month last year.
In Seoul, even the 59㎡ exclusive units, typically sought by newlyweds or three-person households, have average pre-sale prices exceeding 1.5 billion won, adding to the funding burden for would-be subscribers.
Gyeonggi Province's average pre-sale price for 59㎡ exclusive units was calculated at 676.83 million won. The month-over-month increase was only 0.11%, but it was up 10.7% compared with the same period last year.
Pre-sale prices for 84㎡ exclusive units also remained elevated. The nationwide average pre-sale price for 84㎡ exclusive private apartments was 718.2 million won.
Seoul's average pre-sale price for 84㎡ exclusive units was 1.90872 billion won, nearing 2 billion won. It fell 2.33% compared with the previous month but rose 13.1% from a year earlier. In Gyeonggi, the average pre-sale price for 84㎡ exclusive units was 950.25 million won, up 1.3% month over month and 18.6% year over year.
In contrast to rising pre-sale prices, new supply declined. Last month, 24 complexes totaling 13,059 units of private apartments were newly supplied nationwide, down 14.0% from the previous month.
Kim Seon-a, head of pre-sale analysis at Real House, said, "With the pre-sale price of the 'national average floor plan' in Seoul climbing into the 1.9 billion won range, and with a tax reform plan that differentiates property tax burdens depending on whether the unit is owner-occupied, pre-sale buyers now have to factor in not only the pre-sale price but also the holding-stage expense after move-in," adding, "Plans for actual residence will be an important variable in subscriptions."