Seoul apartment winning bid rates rose for a third consecutive month, with small apartments — less affected by lending regulations — leading the gains as their rate approached 113%.
According to the "June Auction Trend Report" published by GG Auction on the 9th, the number of Seoul apartment auctions held last month reached 150, up about 7% from 140 the previous month. The winning bid ratio fell to 34.0%, down 6.0 percentage points from 40.0% the previous month, marking the lowest level in two years and six months.
The winning bid rate rose 0.9 percentage points from the previous month to 101.7%, extending its upward trend to three consecutive months. The average number of bidders also increased by 1.3 to 7.2, from 5.9 the previous month. In particular, the winning bid rate for small apartments of 60 square meters or less — which carry a relatively lighter price burden — showed a steep upward trend, recording 105.1% in April, 109.2% in May, and 112.8% in June. Indeed, in June, a 65.4-square-meter unit in Geumho-dong, Seongdong-gu, Seoul, drew 33 bidders, pushing the winning bid up to 1.53382 billion won, or 143.4% of its appraised value of 1.07 billion won.
For Gyeonggi apartments, 841 auctions were held, up about 21% from 694 the previous month. Auction listings increased sharply, centered on Uijeongbu and Pyeongtaek, while the winning bid ratio stood at 41.0%, similar to 41.1% the previous month. The winning bid rate was 88.3%, down 0.7 percentage points from 89.0% the previous month, but strength continued in regulated areas such as Seongnam, Dongan-gu in Anyang, and Gwangmyeong, where average winning bid rates exceeded 100%. The average number of bidders was 6.6, up 0.4 from 6.2 the previous month.
In Incheon, 301 auctions were held, with the winning bid rate recording 78.2%, down 1.6 percentage points from the previous month. Seo-gu and Yeonsu-gu posted winning bid ratios in the 80% range, but Michuhol-gu was in the 60% range, driving down the winning bid rate.
In the provinces, the Ulsan apartment winning bid rate reached 94.7%, surging 6.1 percentage points from the previous month. It was the highest level in four years and one month, since May 2022. Gwangju and Daejeon also rose to 81.1% and 81.9%, up 1.2 percentage points and 0.6 percentage points, respectively. Daegu (81.1%) and Busan (83.7%) fell 5.5 percentage points and 0.1 percentage points, respectively, from the previous month.
The number of apartment auctions held nationwide rose about 16% from the previous month to 3,701, the highest number in 12 years and three months since March 2014 (4,063). This came as auction listings increased significantly, centered on provincial apartments.
The highest winning bid nationwide in June was a detached house located in Itaewon-dong, Yongsan-gu, Seoul, which was won at 19.61 billion won, or 84.2% of its appraised value of 23.28869 billion won. The property with the most bidders in June was a 93.1-square-meter unit in Godeok-dong, Pyeongtaek, Gyeonggi, which drew 36 bidders and found a new owner at 882.7 million won, or 108.7% of its appraised value of 812 million won.
