February Seoul Private Apartment Sale Price 30.44 Million KRW per 3.3㎡

Slight Decline but Remaining in the 30 Million Won Range for Two Consecutive Months

Last month, the average sale price of private apartments in Seoul slightly declined from the previous month. However, it remained in the 30 million KRW range per 3.3㎡ for the second consecutive month.

According to the "Private Apartment Sale Price Trends as of the End of February 2023" released by the Housing and Urban Guarantee Corporation (HUG) on the 15th, the average sale price of private apartments in Seoul was 30,445,800 KRW per 3.3㎡, down 0.6% from the previous month. Compared to the same month last year, it fell by 6.02%.

The monthly average sale price announced by HUG refers to the average sale price of private sale projects for which sale guarantees were issued during the 12 months immediately prior to the announcement.

The nationwide average sale price of private apartments was 15,602,400 KRW per 3.3㎡, down 0.71% from the previous month but up 9.04% compared to the same month last year. The metropolitan area recorded 21,327,900 KRW, down 0.78% during the same period but up 1.02% year-on-year.

The five major metropolitan cities and Sejong had an average price of 16,273,200 KRW, down 2.1% from the previous month but up 11.06% year-on-year. Other provinces saw an increase of 0.67% and 12.63% respectively during the same period, reaching 12,955,800 KRW.

Last month, the number of newly supplied private apartments nationwide was 6,717 units, a 48% decrease compared to 12,888 units in the same month last year. Of the 3,832 units in the metropolitan area, 775 units were supplied in Seoul. The five major metropolitan cities and Sejong had 1,803 units, and other provinces had 1,082 units newly supplied.