Seoul Private Apartment Sale Prices Average 62.09 Million Won Per Pyeong in July

The sale prices per unit area (square meter) for private apartments in Seoul rose slightly in July compared to the previous month.

According to the price trends for private apartments released by the Korea Real Estate Board and the Korea Housing & Urban Guarantee Corporation (HUG) today (the 18th), the average sale price per square meter of newly supplied private apartments nationwide over the past year stood at 6.201 million won as of the end of July, down 0.56% from the previous month.

The monthly average sale prices calculated by HUG do not reflect just a single month of the reporting standard, but rather the average sale prices of private housing development sites that received housing guarantees over the 12 months immediately preceding the publication month, including the month in question.

Converted to 3.3 square meters (one pyeong), the nationwide average sale price is 20.499 million won.

The average sale price per square meter in Seoul was 18.781 million won, marking a 0.71% increase from the previous month.

Based on 3.3 square meters, the figure came to 62.086 million won, recording the second-highest price in history following May of this year (63.55 million won).

In the Seoul metropolitan area, the sale price per square meter dropped 1.47% from the previous month to 10.769 million won.

The five major metropolitan cities and Sejong City averaged 6.365 million won per square meter, down 0.92% from the previous month, while other regional areas averaged 4.366 million won, up 0.72%.

New private apartment supply nationwide in July totaled 12,008 households, which is 2,956 fewer households than the previous month.

Seoul (135 households) decreased by 1,068 households from the previous month, and the Seoul metropolitan area as a whole (6,907 households) fell by 260 households.

The five major metropolitan cities and Sejong City (1,522 households) increased by 665 households, while other regional areas (3,579 households) decreased by 3,361 households.

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