May Seoul Private Apartment Sale Price per Pyeong 28.21 Million KRW... 12.5% Decrease from Previous Month

Apartment buildings in the Seoul area (Photo by Yonhap News)

[Asia Economy Reporter Ryu Tae-min] Last month, the average sale price per 3.3㎡ (pyeong) of private apartments in Seoul was approximately 28.21 million KRW.

According to the "Private Apartment Sale Price Trends as of the End of May" report released by the Housing and Urban Guarantee Corporation (HUG) on the 15th, the average sale price per 3.3㎡ of apartments in Seoul was recorded at 28.215 million KRW. This represents a 12.5% decrease compared to the previous month (about 32.24 million KRW) and a 1.35% decrease compared to the same month last year. HUG's monthly average sale price is the average sale price of private sale projects for which sale guarantees were issued during the 12 months immediately prior to the announcement.

The nationwide average sale price per 3.3㎡ of apartments was 14.4375 million KRW, down 0.99% from the previous month. This is a 5.85% increase compared to the same period last year.

The average sale price per 3.3㎡ in the Seoul metropolitan area was 20.0178 million KRW, down 5.87% from the previous month and up 3.94% compared to the same month last year. The five major metropolitan cities and Sejong City recorded an average sale price of 15.3714 million KRW, which is a 0.38% increase compared to April.

Meanwhile, the total number of newly supplied private apartments nationwide last month was 15,497 units, an 18% increase compared to the same month last year (10,622 units). In the Seoul metropolitan area, 5,441 units were supplied; in the five major metropolitan cities and Sejong City, 399 units; and in other regions, 9,657 units were supplied.

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