May Nationwide Real Estate Transactions 'Stir'... Apartment Volume Up 10% Month-on-Month

The nationwide real estate transaction volume in May slightly increased compared to the previous month. In particular, the volume of apartment transactions, which has been driving the rebound in the national real estate market this year, rose compared to both the previous month and the same month last year.

[Image source=Yonhap News]

According to an analysis by Real Estate Planet, a big data and AI-based commercial real estate specialist company, based on the Ministry of Land, Infrastructure and Transport's actual transaction price data (as of July 1), the nationwide real estate sales transaction volume in May this year was 93,432 cases, a 1.5% increase from the previous month (92,044 cases).

Transaction volumes by type also generally increased compared to the previous month. Multi-family housing increased the most by 16.4%, followed by officetels at 12.4%, commercial stores and offices at 11.3%, apartments at 10.7%, factories and warehouses at 9.5%, single-family and multi-family houses at 1.9%, and commercial and office buildings at 1.7%.

National real estate sales transaction volume. [Image provided by Real Estate Planet]

In particular, the nationwide apartment sales transaction volume and transaction amount in May were 36,964 cases and 14.9021 trillion KRW, respectively, marking increases of 10.7% and 10.2% compared to the previous month. Compared to the same month last year, they rose by 22.3% and 60.6%, respectively, showing the only upward trend among all types.

However, the nationwide real estate transaction volume in May was still down 21.9%, and the transaction amount decreased by 23.5% compared to the same period last year, indicating that it has not yet recovered to the transaction levels of the previous year.

Jung Sumin, CEO of Real Estate Planet, said, “The nationwide real estate transactions in May rebounded from the somewhat sluggish performance in April and climbed back onto an upward trend, raising expectations for market recovery.” However, she added, “Since the increase is not large and fluctuations vary by type and region, more precise analysis is required at this point.”

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