Nationwide Private Apartment Sale Prices Rise Again... 16.26 Million KRW per 3.3㎡

In July of this year, the nationwide private apartment sale prices recorded an increase for the fifth consecutive month.

[Image source=Yonhap News]

According to the private apartment sale price trends as of the end of July, released by the Housing and Urban Guarantee Corporation (HUG) on the 16th, the average private apartment sale price nationwide was 4,927,000 KRW per square meter, or 16,259,100 KRW per 3.3 square meters. This represents a 0.26% increase compared to the previous month (4,914,000 KRW per square meter). Compared to July last year (4,404,000 KRW), it rose by 11.86%. HUG's average sale price is surveyed based on private sale projects for which sale guarantees were issued during the 12 months immediately prior to the announcement.

The average sale price per 3.3 square meters for private apartments in Seoul was 31,927,500 KRW, maintaining the same level as the previous month. It increased by 13.16% compared to July last year. The average sale price per 3.3 square meters for private apartments in the metropolitan area was 22,512,600 KRW, down 0.32% from the previous month but up 10.89% compared to the same month last year.

In the five major metropolitan cities and Sejong, the average price was 17,031,300 KRW, a 0.12% decrease from the previous month. Compared to the same month last year, it rose by 10.46%.

Other provinces recorded an average price of 13,332,000 KRW, a 1.00% increase from the previous month and a 13.89% rise compared to the same month last year.

Last month, the nationwide supply of newly sold private apartments was 8,487 units, a 43% decrease compared to the same month last year (14,803 units). Of these, 3,292 units were newly sold in the metropolitan area, 2,041 units in the five major metropolitan cities and Sejong, and 3,154 units in other provinces.

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