Seoul Apartment Actual Transaction Prices Rise 15.5% Year-on-Year... Largest Gain Since 2021

Actual transaction prices for apartment sales in Seoul rose 15.5% over the past year, recording the highest growth rate since November 2021.

According to the apartment actual transaction price index by the Korea Real Estate Board released by the Seoul Metropolitan Government, the actual transaction price for apartment sales in Seoul rose 0.72% from the previous month and 15.50% from the same month last year in August.

The year-on-year growth rate is the highest since November 2021 (17.92%).

By region, the northeastern area showed the highest growth rate, rising 1.54% from the previous month.

This was followed by the central downtown area (1.06%), the northwestern area (0.40%), and the southwestern area (0.29%).

The southeastern area fell by 0.29%.

Compared to January of this year, apartment sale prices across Seoul rose 8.3%.

In particular, the upward trend was prominent in outer areas such as the northeastern area (11.5%) and the southwestern area (8.4%).

By size, prices rose across all sizes.

In particular, medium-to-large apartments with a dedicated area exceeding 85㎡ to 135㎡ or less recorded the largest increase, rising 1.32% from the previous month.

The actual transaction price for Seoul apartment jeonse (lump-sum housing leases) rose 0.30% from the previous month in August, continuing an upward trend for 16 consecutive months.

By region, the southwestern area (1.30%) and northwestern area (0.17%) rose, while the central downtown area (-0.35%), northeastern area (-0.10%), and southeastern area (-0.08%) declined.

Apartment transaction volumes continued to decline.

As of the 16th, the volume of apartment sales transactions in Seoul for September stood at 2,923, down 18.3% from the previous month (3,578).

Jeonse transaction volume fell 17.9% from the previous month to 6,454, and monthly rent transaction volume decreased by 6.4% to 7,750.

Total jeonse and monthly rent transaction volume in September reached 14,204, down 12.0% from the previous month.

Compared to the same month last year, jeonse and monthly rent transaction volumes plummeted by 46.9% and 19.8% respectively, highlighting a contraction in transactions despite the autumn moving season.

The Seoul Metropolitan Government forecasted, "Even considering the reporting deadline until the end of October, the downward trend compared to the previous year will continue."
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.