Unlike last year, this year there has been an increase in auction and public sale listings due to price declines and long-term loan delinquencies in collective real estate such as building sales, single-family homes (multi-family), and land across the country (apartments, commercial buildings, officetels, villas, and mixed-use buildings). However, excluding these collective real estate types, reports showing rising trends in the number of commercial real estate transactions, total transaction amounts, and average prices are appearing in various places.
Silgeochae.com LLC, a commercial real estate transaction price research company, released statistical data reported to the Ministry of Land, Infrastructure and Transport from January to the end of February 2025. The total transaction amount for building sales, single-family home sales, multi-family home sales, and land sales in the 25 districts of Seoul was a staggering 2,794.3 billion KRW.
Among the 25 districts of Seoul, Seocho-gu recorded the highest building sales amount at 611.4 billion KRW, followed by Gangnam-gu with 536.6 billion KRW, and Yongsan-gu ranked 5th with 175.15 billion KRW. The lowest was Dobong-gu with 2.4 billion KRW. The gap between 1st place Seocho-gu and 25th place Dobong-gu was 609 billion KRW. The average transaction price per property was highest in Seocho-gu at 22.89 billion KRW, followed by Gangnam-gu at 9.94 billion KRW, Yongsan-gu ranked 10th at 3.33 billion KRW, and the lowest 25th place was 590 million KRW, matching the total transaction amount ranking.
Park Jongbok, Director of Na Haeyo Academy LLC, stated, “The phenomenon different from last year is that building transactions south of the Han River are increasing due to large building sales and corporate transactions, while the northern districts of Seoul show a high number of transactions but an increase in small-scale real estate deals.”
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