July Nationwide Real Estate Transactions Down 7.2% from Previous Month... Only Commercial Buildings Increased

In July, the nationwide real estate transaction volume slightly decreased compared to the previous month. However, apartment transactions, which have driven the national real estate market this year, saw a significant increase compared to the same month last year.

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 September 1), the nationwide real estate transaction volume in July recorded 83,716 cases. This is a 7.2% decrease compared to June (90,245 cases). The transaction amount was 27.5143 trillion KRW, down 5.4% from the previous month (29.0827 trillion KRW).

By type, only commercial and office buildings increased by 3.6% compared to June this year, marking the sole rise. The largest declines in transaction volume were seen in factory/warehouse (collective) at 13.7%, land at 11.2%, factory/warehouse (general) at 8.2%, and single-family/multi-family houses at 7.8%. Regarding transaction amounts, except for commercial and office buildings which rose by 0.8% and factory/warehouse (general) which increased by 4.8%, all other types showed a downward trend.

In July, nationwide apartment transaction volume and transaction amount were 34,077 cases and 14.7256 trillion KRW, respectively, representing decreases of 4% and 3.7% compared to the previous month. Regional transaction volumes and amounts also generally declined slightly.

On the other hand, compared to the same month last year, apartment transaction volume and transaction amount surged by 97.2% and 210.9%, respectively. All 17 metropolitan cities and provinces nationwide recorded at least double-digit growth rates, with the transaction volume in the Seoul metropolitan area standing out.

In particular, Seoul recorded a total of 3,547 apartment transactions in July, marking a remarkable 455.1% increase compared to the same month last year. The transaction amount also rose by 488.6% to 3.9464 trillion KRW.

Jung Soo-min, CEO of Real Estate Planet, said, “It is true that the nationwide real estate transactions in July fell somewhat short of expectations. Nevertheless, the remarkable performance of apartments compared to the same month last year, along with significant upward trends in some real estate types in certain regions, leaves room to anticipate a market recovery in the second half of the year.”

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