January Seoul Private Apartment Sale Price 37.14 Million KRW per 3.3㎡... 21% Increase Over One Year (Comprehensive)

Housing and Urban Guarantee Corporation Sale Price Trends
3.3㎡ in the Seoul Metropolitan Area at 25,058,000 KRW

Apartment viewed from Yongsan-gu, Seoul on the 5th. Photo by Jinhyung Kang aymsdream@

As construction costs continue to rise, apartment sale prices are steadily increasing, with the average sale price of private apartments in Seoul surpassing 37 million KRW per 3.3㎡ (pyeong) last month.

According to the 'Private Apartment Sale Price Trends' released by the Housing and Urban Guarantee Corporation (HUG) on the 16th, as of the end of January, the average sale price of private apartments in Seoul was recorded at 11,234,000 KRW per ㎡. Converted to 3.3㎡ (calculated to decimal points), this amounts to 37,137,000 KRW.

This represents a 6.07% increase compared to the end of December last year (10,590,000 KRW per ㎡) and a 21.03% rise compared to January of the previous year (9,282,000 KRW per ㎡).

HUG's monthly average sale price is the average sale price of private sale projects for which sale guarantees were issued during the previous 12 months.

The average sale price in the Seoul metropolitan area was 7,580,000 KRW per ㎡ (25,058,000 KRW per 3.3㎡), marking a 2.76% increase from the previous month and a 16.37% increase compared to the same month last year. Nationwide, the average sale price was 5,284,000 KRW per ㎡ (17,468,000 KRW per 3.3㎡), up 0.44% from the previous month and 10.95% higher than the same month last year.

Last month, the total number of newly supplied private apartments nationwide was 7,239 units, a 248% increase compared to 2,080 units in the same month last year. The new supply in the Seoul metropolitan area was 2,407 units, 1,608 units in the five major metropolitan cities and Sejong City, and 3,224 units in other regions.

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