Last Month's Seoul Apartment Sale Price 34.94 Million KRW per 3.3㎡... Up 17% in One Year

The sale prices of private apartments in Seoul have risen by more than 17% over the past year.

View of city apartments from the observatory of 63 Building in Yeouido, Seoul. / Photo by Hyunmin Kim kimhyun81@

According to the 'Private Apartment Sale Price Trends' as of the end of December last year, announced by the Housing and Urban Guarantee Corporation (HUG) on the 15th, the average sale price per square meter of apartments in Seoul was 10.59 million KRW (34.94 million KRW per 3.3㎡).

This amount represents a sharp increase of 2.36% compared to the previous month and 17.36% compared to the same period last year. At the end of 2022, the sale price per square meter in Seoul apartments was 9.024 million KRW, not yet exceeding 10 million KRW, but it steadily rose to 10.347 million KRW in November last year.

The sale price per square meter of apartments in the Seoul metropolitan area, including Seoul, was surveyed at 7.377 million KRW, up 6.18% from the previous month. Compared to the same period last year, it increased by 14.82%.

The five major metropolitan cities and Sejong City (5.378 million KRW per ㎡) rose by 4.82% and 9.90%, respectively, during the same period. Other provinces (4.408 million KRW per ㎡) decreased by 0.44% from the previous month but rose by 13.74% compared to the same period last year.

The nationwide apartment sale price per square meter was 5.261 million KRW, up 1.51% from the previous month and 12.29% from the same period last year. This marks a continuous rise for 10 consecutive months since February last year.

The total number of newly supplied private apartments nationwide in December was 17,397 units, a 54% increase compared to the same month last year (11,304 units). The number of newly supplied units in the metropolitan area was 12,646, with 878 units in the five major metropolitan cities and Sejong City, and 3,873 units newly supplied in other provinces.