▲ Apartment complexes in Seoul viewed from Namsan
The average selling price for private apartments with a dedicated area of 59㎡ in Seoul has been found to be roughly three times the national average, maintaining a steady upward trend.
According to an analysis of Korea Real Estate Board's CheongyakHome data by Real House, a real estate evaluation firm, the national average selling price for private apartments with a dedicated area of 59㎡ stood at 503.72 million won as of July.
By region, Seoul recorded an average of 1.56257 billion won, which is close to three times the national average (503.72 million won).
Compared to the previous month, it rose by 3.90%, and compared to the same month last year, it jumped by 26.7%.
Gyeonggi Province (676.83 million won) rose by 0.11% from the previous month and 10.7% compared to the same month last year.
The national average selling price for apartments with a dedicated area of 84㎡, widely known as the "national standard size," was 718.2 million won.
In Seoul (1.90872 billion won), prices fell by 2.33% from the previous month but rose by 13.1% compared to the same month last year, while Gyeonggi Province (950.25 million won) increased by 1.3% from the previous month and 18.6% compared to last year.
Newly supplied private apartments nationwide in July totaled 24 complexes and 13,059 households, marking a 14.0% decrease from the previous month.
Real House explained that with Seoul's standard-sized apartment prices climbing to the 1.9 billion won range and tax reform proposals introduced to differentiate holding tax burdens based on actual residency status, homebuyers must now consider post-occupancy holding costs in addition to the initial purchase price, making actual residency plans a critical variable in subscription draws.
(Photo: Yonhap News)
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