Seoul Apartment Sale Prices Rise Again... Average Sale Price 30.64 Million KRW per 3.3㎡

HUG, Nationwide Private Apartment Sale Prices
Slightly Increased Compared to Previous Month

The average sale price per 3.3㎡ of private apartments nationwide slightly increased in April this year compared to the previous month. The average sale price per 3.3㎡ in Seoul, which first surpassed 30 million KRW in January this year, also rose for two consecutive months. Due to the rise in raw material costs and the lifting of the price ceiling system in most areas, the upward trend in sale prices is expected to continue for the time being.

[Image source=Yonhap News]

According to the nationwide private apartment sale prices released by the Housing and Urban Guarantee Corporation (HUG) on the 15th, the sale price in April was 15,985,200 KRW, up 0.8% from the previous month (15,856,500 KRW). This is a 9.6% increase compared to the same month last year (14,582,700 KRW). HUG calculates the average sale price by surveying the sale prices of private sale projects for which sale guarantees were issued in the 12 months prior to the announcement.

The average sale price of private apartments in Seoul also rose by 0.1% compared to the previous month. The sale price per 3.3㎡ of private apartments in Seoul has maintained the 30 million KRW level for four consecutive months since January this year.

The average sale price per 3.3㎡ of apartments in Seoul in April was 30,643,800 KRW, slightly up from the previous month (30,624,000 KRW). However, this is 5.0% lower than April last year (32,244,300 KRW), which was during a period of rising housing prices.

The average sale price per 3.3㎡ of private apartments in the metropolitan area, including Seoul, was 22,057,200 KRW, up 1.5% from the previous month and 3.7% from the same month last year. In particular, the average sale price in Gyeonggi Province in April was 19,133,400 KRW, showing a significant increase from the previous month (18,202,800 KRW).

However, in Daegu, Gwangju, Sejong, and Jeju, the average sale prices for March and April remained the same. This is interpreted as many complexes halting or postponing sales due to concerns about unsold units. In fact, six regions including Daegu, Daejeon, Ulsan, Sejong, Gangwon, and Gyeongbuk have seen no subscription applications at all since the beginning of this year.

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