In July, it was revealed that the nationwide real estate transaction volume exceeded 100,000 units, marking the highest level in 26 months. According to the report on the real estate market trends by property specializing company Real Planet released on the 19th, a total of 108,520 real estate transactions occurred nationwide in July, which is a 7.6% increase from the previous month (93,690 units).
This figure represents the largest volume since May 2022 (119,693 units). The transaction amount reached 43.6165 trillion won, a 11.9% increase from the previous month (38.9707 trillion won), recording the highest level since August 2021 (50.7932 trillion won).
Nearly half of all transactions were related to apartment sales. The transaction volume for apartments in 17 cities nationwide was 47,777 units, with a transaction amount of 26.5984 trillion won. Compared to the previous month (43,325 units, 23.4511 trillion won), both the transaction volume and amount increased by 10.3% and 13.4%, respectively. This is the highest transaction volume since August 2021 and the highest transaction amount since December 2020.
In Seoul, there were 8,558 apartment transactions with a total amount of 10.4491 trillion won, representing more than a two-fold increase in both volume and amount compared to the same period last year.
However, transactions for officetels and single-family homes stagnated in July. The nationwide officetel transaction volume decreased by 8.9% to 2,799 units, showing the largest decline among all types of real estate. Except for Jeollabuk (330.4% increase), Gyeonggi (14.7% increase), and Chungnam (7.1% increase), the transaction volumes in 14 out of 17 regions decreased compared to the previous month, especially with Gyeongsangbuk (29 units) experiencing a 73.9% decrease.
Real Planet’s CEO Jeong Sumin stated, “In July, most types of real estate transactions, including the apartment market showing recent fervor, increased compared to the previous month.” He also emphasized the need to closely monitor and respond to market changes as the real estate market shows a complex trajectory due to government policies and economic conditions.
(Photo provided by Real Planet, Yonhap News)