Over Half of Seoul Metropolitan Area Apartments Priced Between 1.5 Billion and 2 Billion Won Sold at Record Highs in July

It was analyzed that transactions exceeding 1.5 billion won to 2 billion won accounted for 53.8% of record-high sales in the Seoul metropolitan area apartment market last month, exceeding half of the total.

This is up 5.9 percentage points from 47.9% during the same period last year, marking the largest proportion of record-high transactions among all price brackets in the metropolitan area.

The price bracket with the largest increase was the segment exceeding 1.2 billion won to 1.5 billion won, which was tallied at 47.0%, up 23.6 percentage points from 23.4% a year ago.

The proportion of record-high prices for properties exceeding 600 million won to 900 million won rose by 14.2 percentage points year-on-year to 20.7% this July, while those exceeding 900 million won to 1.2 billion won (36.7%) increased by 20.6 percentage points.

During the same period, the proportion of record-high transactions for properties priced at 300 million won or less shrank from 3.5% to 1.5%, while those exceeding 300 million won to 600 million won saw only a slight increase from 4.15% to 5.0%.

In price brackets exceeding 2.0 billion won, the proportion of record-high transactions all declined: properties exceeding 2.0 billion won to 2.5 billion won dropped from 56.2% to 44.0%, those exceeding 2.5 billion won to 3.0 billion won fell from 71.4% to 25.8%, and those exceeding 3.0 billion won decreased from 70% to 32.5%.

By price bracket, properties exceeding 300 million won to 600 million won accounted for the largest share at 37.9%, followed by properties priced at 300 million won or less (23.2%), those exceeding 600 million won to 900 million won (19.6%), and those exceeding 900 million won to 1.2 billion won (8.9%).

In Seoul, the proportion of record-high transactions for properties exceeding 1.5 billion won to 2 billion won was the highest among all price brackets at 48.7%, while properties exceeding 1.2 billion won to 1.5 billion won (46.4%) and exceeding 900 million won to 1.2 billion won (40.4%) also recorded high proportions of record highs.

For properties exceeding 600 million won to 900 million won, the proportion surged significantly from 9.4% a year ago to 28.1% this year.

In Gyeonggi Province, the proportion of record-high transactions rose from 4.0% to 17.1% for the bracket exceeding 600 million won to 900 million won, and from 17.2% to 33.3% for properties exceeding 900 million won to 1.2 billion won. High proportions of record-high prices were also observed for properties exceeding 1.2 billion won to 1.5 billion won (48.4%) and exceeding 1.5 billion won to 2 billion won (62.8%).

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.