Due to the impact of rising construction costs, the sale prices of private apartments in Seoul have increased by about 27% compared to a year ago. Nationwide, the increase rate remained in the 17% range for two consecutive months.
According to the private apartment sale price trend data released by the Housing and Urban Guarantee Corporation (HUG) on the 16th, as of the end of April, the average sale price per square meter of apartments nationwide was 5,683,000 KRW, up 0.89% from the previous month. Compared to the same month last year, it rose by 17.33%. The upward trend has continued for 14 months since February last year.
In particular, Seoul showed a sharp increase of 26.75% year-on-year, with the average sale price per square meter reaching 11,770,000 KRW. Compared to the previous month, it rose by 2.36%. Converted to 3.3㎡, the price is 38,909,000 KRW. By exclusive area, apartments over 85㎡ up to 102㎡ were priced at 41,236,000 KRW per 3.3㎡, and those over 102㎡ were 45,488,000 KRW, with the average sale price exceeding 40 million KRW significantly.
The average sale price per square meter of apartments in the Seoul metropolitan area, including Seoul, was 7,890,000 KRW, up 1.5% from the previous month and 18.04% year-on-year. The five major metropolitan cities and Sejong City recorded 6,383,000 KRW per square meter, up 1.14% from the previous month and 26.42% compared to a year ago. Other provinces had an average of 4,418,000 KRW per square meter, up 0.26% from the previous month. The year-on-year increase rate was relatively low at 10.46%.
In April, the total number of newly supplied private apartments nationwide was 17,847 units, a 93% increase compared to the same month last year. By region, the Seoul metropolitan area had 7,428 units (114 units in Seoul), and the five major metropolitan cities and Sejong City had 5,598 units. The supply of private apartments in other provinces was 4,821 units.
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