In February, the Proportion of Seoul Apartment Transactions with Over 5% Price Drop Decreased by More than 10 Percentage Points

Zigbang, Analysis of Actual Apartment Transaction Prices in Seoul for February

Last month, the proportion of Seoul apartments traded at prices more than 5% lower than the previous transaction price decreased by more than 10 percentage points compared to the previous month.

[Image source=Yonhap News]

On the 22nd, Zigbang analyzed the actual transaction price data from the Ministry of Land, Infrastructure and Transport and found that among apartments traded in Seoul in February this year, 30.3% were traded at prices that dropped more than 5% (significantly dropped) compared to the previous transaction price, down 11.4 percentage points from 41.7% in the previous month.

This survey compared the price difference with the previous transaction when the same-sized housing unit in the same apartment complex was repeatedly traded. Canceled transactions, first transactions by housing type, and transactions more than one year after the previous transaction were excluded from the count.

Nationwide, the proportion of transactions with a drop of more than 5% decreased by 7.3 percentage points from 38.7% to 31.4%.

In Incheon, the proportion of transactions at significantly lower prices was 40.8% in January this year but recorded 29.2% last month, decreasing by more than 10 percentage points. Additionally, Ulsan (41.1%→30.7%), Sejong (36.0%→23.1%), and Gyeonggi (40.7%→30.7%) also saw a sharp decline in the proportion of significantly dropped transactions.

On the other hand, during the same period, the proportion of apartments traded at prices more than 5% higher than the previous transaction price nationwide increased from 21.1% to 24.2%.