January Nationwide Apartment Sale Price per 3.3㎡ at 12.99 Million KRW... Up 8.85% YoY

(Photo by Yonhap News)

[Asia Economy Reporter Moon Jiwon] In January of this year, the average sale price per 3.3㎡ of private apartments nationwide was surveyed at 12,992,100 KRW.

According to the 'Private Apartment Sale Price Trends' as of the end of last month, released by the Housing and Urban Guarantee Corporation (HUG) on the 15th, the average sale price per 3.3㎡ of apartments nationwide was 12,992,100 KRW, up 1.59% compared to the previous month.

Compared to the same month last year, it increased by 8.85%.

HUG explained, "The relatively high new sale prices in Gwangju and Sejong, as well as the rise in the average sale price in Jeju, contributed to the increase compared to the previous month."

By region, the Seoul Capital Area recorded 19,427,100 KRW per 3.3㎡, down 0.24% from the previous month. The five major metropolitan cities and Sejong rose by 2.47%, and other provinces increased by 2.08%.

Seoul remained the same as the previous month at 28,267,800 KRW per 3.3㎡. Compared to the same month last year, it rose by 5.48%.

HUG calculates the average sale price based on projects sold within the last 12 months as of the announcement date. Projects for which 12 months have passed since the issuance of the sale guarantee certificate are excluded from the calculation.

Last month, the total number of newly sold private apartments nationwide was 8,223 units, a 290% increase compared to the same month last year (2,106 units). Compared to the previous month (32,371 units), it decreased by about 75%.

The number of newly sold units in the Seoul Capital Area was 5,485 units, accounting for the largest share of 67% of the nationwide supply this month. The five major metropolitan cities and Sejong had a total of 2,166 units, and other provinces had a total of 572 units newly sold.