Seoul Apartment Prices Increase Again in One Month… 47.207 Million Won per 3.3㎡
(Seoul = Yonhap News) Reporter Kwon Hye-jin – Due to the rise in construction costs, last month apartment prices reached an all-time high in various regions nationwide.
In Seoul, the sales price per 3.3㎡ has risen to the 47 million won range, and major metropolitan areas such as Incheon and Busan, as well as regional prices, have also recorded historical highs.
According to the “End of November Private Apartment Sales Price Trend” announced by the Korea Housing & Urban Guarantee Corporation (HUG) on the 16th, the average sales price per ㎡ of private apartments in Seoul (based on supply area) was 1.428 million won, up 0.54% from the previous month (1.4203 million won), marking a record high.
When converted to 3.3㎡, it’s 47.207 million won.
Incheon also recorded an all-time high at 18.641 million won per 3.3㎡, and Busan at 22.635 million won per 3.3㎡.
The sales prices in other regions, including 8 provinces, also rose by 0.06% from the previous month to 14.932 million won per 3.3㎡, marking the highest price ever.
Amid this nationwide upward trend in sales prices, the national average apartment sales price also set a new record at 19.078 million won per 3.3㎡ within a month.
As a result, nationwide sales prices rose by 11.36% compared to a year ago, and Seoul’s sales prices rose significantly by 38.01%.
HUG explained that the high sales prices of recently sold complexes, against the backdrop of an overall rise in construction costs, pushed the average upward.
Recently sold ‘Acro Ritz County’ in Seocho-gu, Seoul, had an average sales price of over 66.7 million won per 3.3㎡, while ‘E-Pyeonhansesang Dangsan River Park’ in Yeongdeungpo-gu, Seoul, and Zone 1 in Deungchon, Gangseo-gu, Seoul, had average sales prices of over 50.8 million won and 42.8 million won per 3.3㎡, respectively.
HUG calculates the monthly private apartment sales prices based on an average of data over the last 12 months.
Meanwhile, last month, a total of 13,217 private apartments were sold nationwide, a decrease of 5,511 units (29%) compared to the same month last year. Compared to October, it was 4,660 units less.
The newly sold units in the metropolitan area totaled 9,376, which increased by 494 units from the same month last year but decreased by 1,734 units from the previous month.
The five major metropolitan cities and Sejong City sold 1,616 units, and other regions sold 2,225 units, respectively.