Proportion of Higher-Priced Apartment Transactions Nationwide at 45.3% in November... Increases in Seoul, Ulsan, and North Jeolla [Real Estate AtoZ]

Slight Decline in Nationwide Share of Higher-Priced Transactions Compared to October
Metropolitan Area Sees Decrease, but Seoul Alone Shows Increase
Ulsan at 49.2%, North Jeolla at 49.0%, Busan at 47.5% and Rising

Last month, the proportion of apartment sales nationwide that were transacted at higher prices reached 45.3%. While this figure decreased compared to October on a national level, it increased in Seoul, Ulsan, and North Jeolla Province.

Yonhap News Agency

According to an analysis by Zigbang of the Ministry of Land, Infrastructure and Transport's actual transaction price data, the proportion of apartment sales nationwide that were concluded at higher prices last month was 45.3%. Transactions at unchanged prices accounted for 14.1%, and those at lower prices made up 40.7%. The proportion of higher-priced transactions declined from 46.6% in the previous month.

In the Seoul metropolitan area (Seoul, Gyeonggi Province, and Incheon), the share of higher-priced transactions was 45.4%, down from 47.6% in October. The proportion of unchanged-price transactions increased slightly from the previous month, and the share of lower-priced transactions also expanded, indicating a weakening of buying momentum.

In Seoul, the proportion of higher-priced transactions last month was 54.1%, up from 52.2% in October. Seoul was the only area in the metropolitan region where the share of higher-priced transactions increased. Although overall transaction volume declined as buyer sentiment weakened following the October 15 real estate measures, the proportion of higher-priced transactions expanded, driven by continued price increases in central districts such as Yeongdeungpo, Mapo, and Dongjak.

In the Gangnam area (Gangnam, Seocho, Songpa), the proportion of higher-priced transactions dropped by 3.4 percentage points, from 64.1% in October to 60.7% in November. Although some buyers adopted a wait-and-see approach after the new regulations, the high-end apartment market in Gangnam continues to demonstrate strong price resilience.

November Apartment Sales Increase and Decrease Proportion in the Seoul Metropolitan Area. Provided by Zigbang

In Gyeonggi Province and Incheon, the proportion of higher-priced transactions is either weakening or stagnating. In Gyeonggi Province, it decreased from 45.7% in October to 44.2% in November, while Incheon remained unchanged at 43.6%. Both regions saw slight increases in the proportions of unchanged and lower-priced transactions. In particular, some areas of Gyeonggi Province have seen a slowdown in the sales market as they were designated as regulated zones, and even in non-regulated areas, buyers are displaying a cautious attitude.

In non-capital regions, the proportion of higher-priced transactions fell slightly from 45.4% in October to 45.2% in November. The share of lower-priced transactions was 42.3%, and unchanged-price transactions accounted for 12.4%, indicating a generally balanced market without significant fluctuations.

Among non-capital regions, Ulsan had the highest proportion of higher-priced transactions at 49.2%, followed by North Jeolla Province at 49.0%, Busan at 47.5%, Daejeon at 46.9%, and Daegu at 45.7%. In Ulsan, the recent recovery of the shipbuilding industry has revitalized the local economy, leading to an upward trend in the housing market. Of Ulsan's 1,121 apartment sales in November, 552 were concluded at higher prices than previous transactions. In North Jeolla Province, a lack of new housing supply has supported an upward trend in both the subscription and apartment sales markets. Of the 1,401 transactions in November, 687 were higher-priced sales.

November Non-Capital Region Apartment Sales Increase, Proportion of Rising and Falling Transactions. Provided by Zigbang

Nationwide, apartment transaction volume is generally subdued. In the Seoul metropolitan area, cash-rich end-users are occasionally making purchases, particularly in central and Gangnam districts, resulting in record-high transactions in some complexes. Although the strong upward pressure on prices has eased, transaction prices remain firm, as sellers are reluctant to lower their asking prices, and prices continue to be maintained at the upper end of the range.

Kim Minyoung, manager of the Big Data Lab at Zigbang, stated, "Although the proportion of higher-priced transactions in the housing market declined slightly in November, the upward trend continued in central areas of the metropolitan region and some major provincial cities amid localized trading activity. In contrast, a conservative buying stance persists in outlying areas and smaller cities," adding, "Market responses are varying by region depending on factors such as supply conditions, location competitiveness, and industrial base. This regional differentiation is expected to continue going forward."