77 Trillion Won in Commercial Real Estate Sold Nationwide Last Year, Seoul Leads with 33.3 Trillion Won

Last year was a turbulent period marked by the 21st presidential election and a cut in the base interest rate. Among the many changes, the apartment market experienced significant shifts. The government designated all 25 districts of Seoul, as well as 12 locations in Gyeonggi Province-including Gwacheon, Gwangmyeong, Uiwang, Hanam, and Suji-as land transaction permit zones, which sent a chill through the real estate market. However, excluding commercial real estate (such as building sales, property sales, single-family homes, multi-family homes, and land) and collective real estate (such as apartments, officetels, and commercial units), the real transaction price research firm Silgeochae.com LLC released nationwide transaction data.

The total transaction amount across 17 regions nationwide reached 77 trillion won. Seoul topped the list with 33.3 trillion won, followed by Gyeonggi Province with 14.5 trillion won, and North Gyeongsang Province with 3.4 trillion won. Sejong City ranked the lowest, with 87.8 billion won in transactions.

Data provided by Silgeo.com

Among the districts in Seoul, Gangnam-gu ranked first with 8.4 trillion won in transactions, followed by Jung-gu (3.6 trillion won) in second place and Jongno-gu (3.4 trillion won) in third. Guro-gu recorded the lowest transaction amount at 200 billion won.

The total nationwide transaction volume for building and property sales reached 32 trillion won. Seoul led with 21.3 trillion won, followed by Gyeonggi Province (4.2 trillion won) in second place and Busan (1.6 trillion won) in third. Sejong City recorded the lowest transaction volume, at 8.6 billion won.

In Seoul's building and property transactions, Gangnam-gu, Jung-gu, and Jongno-gu ranked first through third, respectively, while Dobong-gu recorded the lowest amount at 43.8 billion won.

Nahaeyo Academy LLC Director Chong Bok Park

Chong Bok Park, Director of Nahaeyo Academy, a real estate expert, stated, "Last year was a period when transactions for income-generating buildings and properties listed for urgent sale were actively processed." He added, "In particular, transactions for office buildings and hospital buildings took the lead, and urgent sales are expected to continue steadily through the first half of this year."