Private Apartment Sale Price in Seoul Metropolitan Area 5.52 Million Won...0.43% Decline

Seoul Sale Price 7.97 Million Won, Down 1.83% Compared to Previous Month

[Asia Economy Reporter Moon Jiwon] The average sale price per square meter of private apartments nationwide over the past year was 3,591,000 KRW as of the end of last month, showing a 0.72% decrease compared to the previous month.

The Housing and Urban Guarantee Corporation (HUG) released on the 16th the results of the "Private Apartment Sale Price Trends as of the End of February 2020," which compiled and analyzed sale guarantee project information for private apartments nationwide.

According to the survey results, by region, the Seoul metropolitan area recorded 5.52 million KRW, down 0.43% from the previous month; the five major metropolitan cities and Sejong City rose by 0.18%; and other provinces fell by 1.82%.

Seoul's price was 7.972 million KRW, down 1.83% from the previous month.

New sale prices were relatively low in areas such as Suwon and Paju in Gyeonggi Province, and the project in Gwangjin-gu, Seoul, was excluded from this month's survey as one year had passed since its sale, resulting in a slight decline in sale prices in the metropolitan area.

Last month, the total number of newly sold private apartment units nationwide was 8,106, a 4% increase compared to the same month last year (7,800 units).

The number of newly sold units in the metropolitan area totaled 5,013, accounting for the largest share of 61.8% of the nationwide sale volume this month. The five major metropolitan cities and Sejong City had a total of 1,287 units, and other provinces had a total of 1,806 units newly sold.

Detailed information on nationwide private apartment sale prices and new sale unit trends can be found on the HUG Housing and Urban Guarantee Corporation website or the National Statistics Portal.

This content was produced with the assistance of AI translation services.