As construction costs continue to rise, the average sale price for the "national standard" size in Seoul's private apartments has surpassed 2 billion won once again last month.

Realhouse, a real estate subscription evaluation firm, announced on the 8th that, based on an analysis of data from the Korea Real Estate Board's subscription home service, the average sale price per 84 square meters of exclusive area for private apartments in Seoul stood at 2.00063 billion won last month.

After initially crossing the 2 billion won mark at 2.13608 billion won last May, the price briefly dipped into the 1.9 billion won range before rebounding back into the 2 billion won range four months later.

Compared to the same month last year, this represents a 22.85% increase.

Following Seoul, Gyeonggi Province recorded an average sale price of 910.52 million won (up 9.52% year-on-year, hereafter change rates), followed by Busan at 831.48 million won (down 4.34%), Daegu at 786.05 million won (up 0.12%), and Incheon at 773.36 million won (up 19.53%).

The nationwide average sale price for the national standard size was 722.90 million won, marking a 9.61% increase compared to the same month last year.

For the exclusive 59-square-meter area, Seoul recorded the highest average sale price at 1.59343 billion won, a 31.49% surge from the same month last year.

Gyeonggi Province followed at 621.70 million won (down 3.07%), Busan at 561.06 million won (down 4.27%), and Incheon at 536.88 million won (up 12.28%).

Newly supplied private apartments nationwide last month totaled 11,554 households across 22 complexes.

While this is a 42.8% increase compared to the previous month (8,092 households), it represents a 2.3% decrease compared to the same month last year (11,822 households).

An official from Realhouse stated, "With the basic building cost having been raised three times this year, increasing by over 7% in a single year, and the construction cost index rising for 12 consecutive months, the burden of construction costs continues to grow," adding, "It appears unlikely that new apartment sale prices will decrease anytime soon."

(Photo: Yonhap News)