Seoul Recorded 965 Cases in July, Up 345% from Early Year
Reported Transactions Share Also Rose 3%P in Half a Year
Highest Price: Apgujeong-dong 'Shinhyundai 11th' 7.6 Billion Won
As the real estate market continues its upward trend, the number of apartment transactions at record-high prices nationwide has reached its highest level this year. In Seoul, one out of every ten transactions was sold at a price higher than the previous record.
Doubled Since the Beginning of the Year
According to Proptech company Zigbang on the 4th, the number of apartment transactions at record-high prices nationwide in July totaled 2,317. This is about a 23% increase (440 transactions) compared to one month earlier (1,877 transactions) and more than doubled compared to the beginning of the year. The figures slightly decreased between January (1,149 transactions) and February (1,125 transactions) this year but then increased to 1,517 in March, 1,530 in April, 1,602 in May, and 1,877 in June.
In July, record-high transactions were concentrated in the metropolitan area. Seoul recorded the highest number with 965 transactions, followed by Gyeonggi with 577 and Incheon with 127. Notably, Seoul saw a 345% surge (748 transactions) compared to January (217 transactions). In non-metropolitan areas, Busan (94), Gangwon (72), Daegu (71), and Gyeongnam (66) showed relatively high numbers. However, Chungnam (51), Gyeongbuk (48), Chungbuk (38), Gwangju (26), Daejeon (26), and Jeju (26) showed a decrease in record-high transactions compared to the beginning of the year.
The proportion of record-high transactions within total transactions also showed an upward trend. Nationwide, it remained at 4% throughout the first half of the year but rose to 5% in July. In Seoul, it jumped from 8% at the beginning of the year to 11% in July, marking the highest figure within the year. Jeju had the highest proportion of record-high transactions nationwide at 14% in July, influenced by the relatively small total number of transactions (about 185). Seoul (11%) ranked second nationwide in proportion. Gangwon was at 5%, while other regions remained between 2% and 4%.
Gangnam Unbeatable, Mapo and Yeouido Strong
Among the complexes that recorded new highs last month, most of the top-priced sales were concentrated in the three Gangnam districts of Seoul. ‘Shinhyundai 11th Complex (183㎡)’ in Apgujeong-dong, Gangnam-gu, ranked first at 7.6 billion KRW, followed by ‘Seonkyung 2nd Complex (128㎡)’ in Daechi-dong, Gangnam-gu, at 4.13 billion KRW, and ‘Yeoksam I-Park (116㎡)’ in Yeoksam-dong, Gangnam-gu, at 3.24 billion KRW. Complexes ranked 6th to 10th were also located in Gangnam and Songpa districts.
Outside Gangnam, Mapo and Yeouido showed strong performance. ‘Hangang Bamseom Xi (133㎡)’ in Hajung-dong, Mapo-gu, ranked 4th at 3 billion KRW, and ‘Gwangjang (151㎡)’ in Yeouido-dong, Yeongdeungpo-gu, ranked 5th at 2.97 billion KRW. Complexes ranked 11th to 13th were also located in Mapo and Yeouido. ‘Jugong 8th Complex (83㎡)’ in Burim-dong, Gwacheon-si, Gyeonggi-do, was the only non-Seoul complex to make it into the top 20.
Kim Eun-seon, head of Zigbang’s Big Data Lab, said, "With loan regulations tightening this month, we need to observe how transaction volumes move," but added, "Seoul is maintaining a strong stable trend, and especially in high-priced areas like Gangnam, the impact of loan regulations is less significant, so we expect the trend of record-high transactions to continue for some time."
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