The average sale price of private apartments in Seoul has surpassed 60 million won per 3.3 square meters (one pyeong) for the first time. The figure set a record high as high prices at certain complexes were reflected.
According to private apartment sale price trends released by the Korea Housing & Urban Guarantee Corp. (HUG) on Sunday, Seoul's average sale price per square meter stood at 19.224 million won as of the end of May this year. That marks an 8.85% increase from the previous month. On a 3.3-square-meter basis, the figure came to 63.55 million won, entering the 60 million won range for the first time.
HUG explained that the increase reflected the high prices of two complexes launched in Dongjak-gu in May.
The statistics represent not a single month but the average sale price at private sale projects that received sale guarantee certificates over the 12 months leading up to the release, including that month.
The national average sale price per square meter also rose 4.00% from the previous month to 6.475 million won. Converted to 3.3 square meters, the figure reached 21.405 million won, a record high.
By region, the polarization trend was pronounced. The average sale price per square meter in the greater Seoul area stood at 11.081 million won, up 5.35% from the previous month. The five metropolitan cities and Sejong City rose 6.40% to 7.098 million won. By contrast, other regions fell 0.02% to 4.281 million won.
While sale prices rose, supply fell sharply. The number of private apartments offered for sale nationwide in May totaled 4,828 units, down 16,292 units from the previous month.
By region, Seoul recorded 717 units, an increase of 478 units. By contrast, the greater Seoul area fell by 3,194 units to 2,954 units. The five metropolitan cities and Sejong City fell by 2,977 units to 737 units, while other regions fell by 10,121 units to 1,137 units.
