This Year, Seoul's Total Real Estate Sales Amount to 23.4637 Trillion Won

The second half of 2023 ended with a real estate slump, but this year, unlike last year, the transaction amount, number of transactions, and average price per unit for real estate excluding collective real estate (apartments, pre-sale commercial buildings, villas, officetels, etc.)?such as building sales, property sales, single-family homes, multi-family homes, and land?are breaking records.

[Photo by Silgeorae.com]

According to data released by Real Transaction Dot Com LLC, an organization that investigates actual real estate transaction prices, the total number of transactions for building sales, property sales, single-family homes, multi-family homes, and land was 4,727, with a total transaction amount of 23.4637 trillion KRW. The monthly average number of transactions was 429, and the average transaction price per unit was 5.58 billion KRW.

[Photo by Silgeorae.com]

Regarding this phenomenon, Park Jong-bok, director of the Bogo Nahhaeyo Academy, stated, “While the apartment market is still cooling, this can be seen as an indicator that income-generating real estate transactions are continuing.” He added, “However, relying solely on these statistics and becoming immersed in the idea that the real estate market is recovering, leading to reckless investments using excessive financial loans that do not match reality, is risky.”